Insights & News - EFGAM New Capital

Macro

Token Limit Exceeded

From bragging rights to budget caps: what the corporate token economy tells us about enterprise AI adoption.

27 August 2026
Read time: 5 mins

Podcast

Joining the party late – Europe’s bullish turn

After years of being the market’s perennial underdog, Europe is finally having a moment. In this episode Moz Afzal sits down with Gerry Fowler, Head of European Equity Strategy at UBS, to explore why sentiment on European equities has shifted and why this upgrade in tone looks structurally different from false dawns of the past. Gerry walks through the bottom-up story reshaping the market – from AI capex “late cycle joiners” in cables, turbines and semis equipment to a broadening industrial recovery fueled by German fiscal stimulus. The pair also discuss why Spain and Italy have outperformed and the bifurcated outlook for European autos.

25 August 2026

Podcast

Is the AI boom cracking? Inside July’s sell-off and beyond

Enterprise artificial intelligence demand is booming, semiconductors remain volatile, and July’s sharp sell-off has left investors asking whether the AI trade is cracking or simply resetting. Hosted by Moz Afzal, Global CIO at EFG, in conversation with Henry Walters, EFG Equity Analyst, this episode explores what drove the July wobble – from crowded positioning and leverage to rising rates and credit spreads – against a backdrop of robust tech earnings and surging AI capital expenditure. They also discuss the battle between open and closed AI models as well as the key risks that could shape where AI infrastructure spending goes next.

07 August 2026

Podcast

Where technology ends and human intuition begins – onboard with Team Malizia

What happens when the models, forecasts and systems have done all they can – and it’s down to human judgment? Ocean racing skipper Boris Herrmann explains how he leads Team Malizia through some of the toughest races on the planet. While much of the race outcome is already determined through the preparation beforehand, intuition, trust and teamwork still play a vital role. Listen to this fascinating episode to hear what life is like in some of the most remote and demanding conditions.

24 July 2026

Podcast

Secondaries first: rethinking private market liquidity

In EFG’s Outlook 2026 publication, private equity secondaries were highlighted as a key opportunity within private markets. In this episode, EFG CIO Moz Afzal is joined by Jake Elmhirst, Partner and Head of Private Wealth Secondaries Solutions at Coller Capital, to discuss why secondaries have become a core building block in client portfolios. They explore the current liquidity squeeze in private markets, how secondaries can offer diversification and potentially attractive risk adjusted returns, and why the growth of perpetual and semi liquid structures is changing how private wealth accesses private equity.