American Century & Franklin Templeton on the New Rules of International Investing

Key event: a thematic rotation away from nearly two decades of U.S. tech concentration toward a resurgence in international investing. For portfolios, this suggests gradually increasing non‑U.S. equity exposure (developed and emerging markets) to capture valuation dispersion and diversification benefits while reviewing sector and FX exposures; the shift is thematic and likely gradual rather than immediately market‑moving.

Analysis

Key event: a thematic rotation away from nearly two decades of U.S. tech concentration toward a resurgence in international investing. For portfolios, this suggests gradually increasing non‑U.S. equity exposure (developed and emerging markets) to capture valuation dispersion and diversification benefits while reviewing sector and FX exposures; the shift is thematic and likely gradual rather than immediately market‑moving.