Macro Minutes: SPACs: A Key Driver of Recent Equity Supply Trends

In May’s Macro Minutes video, Capital Markets Innovation Research Analyst Tom Kirby discusses recent equity supply trends, how Special Purpose Acquisition Companies (SPACs) fit into this big picture, and recent developments in the SPAC market.

Key Points

  • Global aggregate equity supply expanded over the last 12 months.
  • SPAC activity is a key factor of recent equity supply expansion, particularly in the US.
  • Sentiment towards SPACs is recently challenged following increased scrutiny and poor performance.


*The foregoing information constitutes the views of Fisher Investments based on information believed to be reliable. There can be no assurances that Fisher Investments will continue to hold these views. These views may change at any time based on new information, analysis, or reconsideration.
About Fisher Investments

Founded in 1979, Fisher Investments is an independent, fee-only investment adviser with $197 billion under management.* Fisher Investments maintains four principal business units, Fisher Investments Institutional Group, Fisher Investments Private Client Group, Fisher Investments 401(k) Solutions Group and Fisher Investments Private Client Group International, which serve a global client base of diverse investors. The clients of Fisher Investments and its affiliates include over 100,000 clients. Founder and Executive Chairman Ken Fisher’s “Portfolio Strategy” column for Forbes ran from 1984 through 2016, making him the longest continually running columnist in the magazine’s 90+ year history. He has also authored several New York Times bestsellers on finance and investing. (*As of 3/31/2022)