Stock markets have set record highs several years in a row. At the end of 2025 a minority of companies in AI, banking and defence made up 37% of the MSCI World Index. But, share prices have struggled to hang on to these highs over the past few months, and the best and worst-performing sectors have traded places or ‘rotated’. So, how do we separate the wheat from the chaff?

In this article for the CFA Institute®’s Enterprising Investor blog, CCLA’s investment team looks at the long-run outperformance of ‘quality’ shares over the broader stock market. At times, quality shares may lag the market over shorter timeframes. But they have delivered long-term outperformance for investors with that time horizon.

Quality shares’ performance has been hard to predict from one quarter to the next. But in the long run, their outperformance, of the broader market and of growth shares, has been significant. Find out why in our latest article. 

How should investors be positioned now that the 90-day tariff pause has ended? Momentum is all about catching the next ‘wave’. But over longer time horizons, ‘quality shares’ have been the outstanding asset class. 

A quarterly review of the CCLA Better World Global Equity Fund including commentary, fund performance, fund activity and positioning and outlook.  

CCLA has been distinguished by Square Mile Investment Consulting and Research with a Responsible-Positive Prospect rating for its Better World Global Equity Fund.

A quarterly review of the CCLA Better World Global Equity Fund including commentary, fund performance, fund activity and positioning and outlook.  

A quarterly review of the CCLA Better World Global Equity Fund including commentary, fund performance, fund activity and positioning and outlook.