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Market Concentration: Impact & Risks

A thought leadership piece from Chris Sutton, Investment Manager at the Edinburgh and London-based investment firm Aubrey Capital Management, Chris examines market concentration and the evolving global economy, focusing on the growth and impact of US dominance, along with its potential risks and rewards for global investors.


Since the 2008 financial crisis, global equities and bonds have surged, with the US now representing nearly 65% of global share value, while Europe, Japan, and China’s shares have declined, and India’s influence has risen, even surpassing the UK. Chris’s analysis delves into the risks of this concentrated US dominance, particularly in the tech sector, where NVIDIA alone has driven almost 50% of this year’s global return – a figure that raises questions about the sustainability of such narrow market leadership.


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