What if a hard Brexit actually happens?

Chris Brown, Chief Investment Officer With six months to go, we thought it would be a good time to take stock of where we are on Brexit and the implications the different possible outcomes would have on our portfolios and returns. From a market perspective, a fudgy, compromisey, typically European style deal which pleases no […]

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Jeremy Corbyn, Political Risk, and the UK

Chris Brown, Chief Investment Officer What would happen if Jeremy Corbyn swept to victory in 2020 with a decisive Labour majority? Does April’s revival in UK equities mean markets are more optimistic about a Brexit deal? Here we look at UK political risk and how it might affect our clients’ investment portfolios. Tax rates and […]

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Q1 2018 Investment Review and 2018 Outlook

2017 turned out to be an unusually quiet year for financial markets. Politics was as rumbustious and headline making as always but markets generally look through this unless someone somewhere is about to do something really stupid (like start a trade war, of which more below). Meanwhile, the news from the economy was of strong […]

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Q4 2017 Investment Review

Our outlook at the start of 2018 is pretty similar to the one we had at the start of 2017. We know that equity markets have come a long way since the lows of 2009 and we know that we are probably nearer the end of the current economic cycle (which is now over seven […]

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Priceless – Tidings of Comfort & Joy

Ros Price, Investment Committee Member. It’s the time of year when – at least until MiFID ll rule changes allow starting next January – when fund managers have inboxes deluged with the outlook for next year. Most make quite turgid reading I am sorry to say and that’s not just the content, but the writing […]

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Priceless – China and its new assertiveness

Ros Price, Investment Committee Member. More than two thousand delegates meet, on a five yearly basis, in the Great Hall of the People in Beijing, in order to revise the constitution of the Communist Party of China as well as appoint the New Central Committee, Politburo  and incidentally to appoint or re-appoint the Party leader […]

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When Small is Beautiful

Chris Brown, CIO. As a smaller, partner-owned firm, we think we have a couple of key advantages over the bigger boys (and girls) which we particularly value today. First, we are able to own a wider variety of assets as we are not size constrained when evaluating investments. Second, if and when the investment climate […]

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Priceless – Ten Years On, What Did We Learn From The Crisis

Ros Price, Investment Committee Member. To those of us who were working in financial markets then, it seems as if it were only yesterday that the financial crisis started to emerge in the summer of 2007 with the implosion of a couple of hedge funds which specialised in so-called sub-prime debt . Where did the […]

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Weak and Uncertain

Chris Brown, CIO. Here’s a brief note on the UK election and the implications for markets. We will leave the political analysis to those better placed than us to deliver it. Our only observation is that this is a pretty unprecedented outcome. Few if any of the current political elite were preparing for this result […]

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