Double Take By Newton

Stay up to date on key topics influencing the world of investing. We pair industry experts with Newton’s investigative research professionals to discuss top-of-mind issues shaping the economic landscape.  Learn more at: www.newtonim.com/double-take-podcast/ DisclosuresFor Institutional Clients Only. Issued by Newton Investment Management North America LLC ("NIMNA" or the "Firm"). NIMNA is a registered investment adviser with the US Securities and Exchange Commission (“SEC”) and subsidiary of The Bank of New York Mellon Corporation (“BNY Mellon”).  The Firm was established in 2021, comprised of equity and multi-asset teams from an affiliate, Mellon Investments Corporation.  The Firm is part of the group of affiliated companies that individually or collectively provide investment advisory services under the brand “Newton” or “Newton Investment Management”.  Newton currently includes NIMNA and Newton Investment Management Ltd. (“NIM”) and Newton Investment Management Japan Limited (NIMJ).Any statements of opinion constitute only current opinions of NIMNA, which are subject to change and which NIMNA does not undertake to update. This publication or any portion thereof may not be copied or distributed without prior written approval from the firm. Statements are correct as of the date of the material only. This document may not be used for the purpose of an offer or solicitation in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or not authorized. The information in this publication is for general information only and is not intended to provide specific investment advice or recommendations for any purchase or sale of any specific security. Some information contained herein has been obtained from third party sources that are believed to be reliable, but the information has not been independently verified by NIMNA. NIMNA makes no representations as to the accuracy or the completeness of such information. No investment strategy or risk management technique can guarantee returns or eliminate risk in any market environment and past performance is no indication of future performance. The indices referred to herein are used for comparative and informational purposes only and have been selected because they are generally considered to be representative of certain markets. Comparisons to indices as benchmarks have limitations because indices have volatility and other material characteristics that may differ from the portfolio, investment or hedge to which they are compared. The providers of the indices referred to herein are not affiliated with NIMNA, do not endorse, sponsor, sell or promote the investment strategies or products mentioned herein and they make no representation regarding the advisability of investing in the products and strategies described herein.Double Take was previously published by Mellon Investments Corporation. On September 1, 2021, all of Mellon Investments Corporation’s active equity and multi-asset strategies were transferred to Newton Investment Management North America LLC.