News and views

The Year of the Pig

Earlier this month we witnessed the Chinese New Year and the start of the year of the pig. For the Chinese, the year of the pig has a specific relevance, good fortune and a beautiful personality. For the sceptics among us that view economic statistics from China with some caution, pig might stand for perpetually […]

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It’s a Small World

It’s a Small World Yes, at times every stock market and in 2018, almost every asset class seems to be highly correlated unfortunately in last year’s case – to the downside. One could be forgiven for thinking that means the investment world has become smaller. Perhaps the weight of money pouring into passive investing effectively […]

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Mid Monthly Update – January 2019

January Sales                 The sales that occur in January and with reasonable frequency throughout the year. This is a familiar story as figures from the British Retail Consortium (see below) would indicate unless you’re Aldi or LIDL. Any coincidence that they are both private companies and can run […]

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We are indebted to you…

For your support this year as 2018 comes to an end. It is also worth noting that one of our concerns is the amount of debt the private sector has built up, notably in the US where cheap funding costs have enabled many companies to borrow cheaply to buy back their own stock and in […]

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Credit Where Credit is Due – A Brexit Distraction

And that is the last time I shall mention the ‘B’ word in this piece. Regular readers and investors will be familiar with our thematic approach to investing rather than the conventional geography and asset class template commonly used in our industry. We publish our key investment themes to invest in but don’t often mention […]

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Hotel California

Not a reference to the appalling wildfires around the inappropriately named town of Paradise but a Brexit reference to the May deal – ‘you can check out but you might never leave’, a modest adaptation of the lyrics from that classic song by The Eagles. Writing the mid-monthly update during a tumultuous period in British […]

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Shareholders are revolting!

One of the noteworthy events of October so far in amongst the party conferences was the UK shareholders overturning the decision of one of the UK’s leading corporates to re-locate from London to Rotterdam in the face of Brexit. As a consequence, Unileaver will remain Unilever. Anyone who has been to Rotterdam might question the […]

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Mid Monthly Update – August 2018

Summer Fair While many will have attended a village summer fayre in recent weeks, the existing political climate is about fairness in society manifesting itself through populism which has been in focus since the Brexit referendum and the Trump election. While some political campaigning has targeted voters’ fears, more recent non-political campaigns have been about […]

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Mid Monthly Update – July 2018

PRIDE July is a busy month, the middle of the three summer months containing many sporting events as well as cultural gatherings. No Glastonbury this year but we’ve had the Pride parade in London promoting diversity which will be replicated in cities across the UK. The annual events that are Wimbledon and the British Grand […]

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Example news piece

The following is an extract from a news update which we email to our clients on a monthly basis. This is an example of the content we produce. If you would like any further information then please do not hesitate to contact the team using the Contact Us link at the top of the page. […]

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*Fund Manager of the Year Awards 2018*

We are delighted to announce that our Dynamic Fund was Highly Commended in the Managed Cautious category at the Investment Week Fund Manager of the Year Awards 2018 on 5th July.      

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Supermarket Sweep

  While today marks the first of May and you may be tempted to find a pole to dance around, it also sees the end of April, some unsettled weather and the passing of one of this country’s gameshow hosts, Dale Winton.   One of Dale’s most well-known TV shows was Supermarket Sweep which aired […]

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Indexation Fixation

‘An index is not a portfolio construction tool’. A quote attributable to Hugh Young, then of Aberdeen Asset Management (now Aberdeen Standard Investments).   The Emperor’s New Clothes Around twenty-odd years ago, someone hoodwinked the investor community that market capitalisation indices were the most important measurement of a portfolio’s performance.  This was probably led by […]

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Three Degrees

Index funds do not care if you make money. All they care about is that they get more assets when the market goes up. Large actively managed funds, benchmarked to an index, don’t really care if you make money… all they care about is that you make more money than if you had invested in […]

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Passive?!

‘Accepting or allowing what happens or what others do, without active response or resistance’ Source: Oxford Dictionary The chart below from Bloomberg doesn’t look like passive behaviour, more like panic behaviour. The SPDR S&P 500 exchange-traded fund (ETF) suffered a record USD23.6 billion in outflows last week. The momentum investors that bought what went up, […]

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StagNation

Today is the first of December and minds turn to thinking of Christmas and the delivery of presents by Santa and his team of reindeer. This horned team of stags (can you name all eight of them?) is not what the title of this blog is about. Thinking back to last week’s budget, the revised […]

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Strategic Asset Allocation – Why?

We were somewhat surprised to read earlier this month that the most popular recipient of inflows during a record month for net retail sales of open-ended funds according to the Investment Association for September 2017, was the UK Strategic Bond sector. Historically bonds have been something of a safe haven, an anchor of relative stability […]

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Shoulder to Shoulder

With MIFID II in the headlines and due to come into effect from 3 January 2018, it is interesting that with almost each passing day, fund groups are emerging from the woodwork stating that they will shoulder the financial burden of research costs and not charge the funds that they manage.  How generous of them!  […]

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University Challenge: Dissecting Student Loan RPI

For those fans of the above and its host who smugly ridicules the students when they get answers wrong – he is looking at the answer, you will be disappointed to learn that this blog is not about the BBC2 show. As we enter the first month of autumn, students are either returning to their […]

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