This year we are launching a new image and style for the discretionary investment management side of our service. As a result of this, you will notice that your Market Review & Outlook has a new look to it. You can also view it as a video, or listen as a podcast, below.
For the second year running we have been positively surprised by the resilience of markets, with near record low levels of volatility across asset classes, as well as indices at or near all-time highs. Although valuations appear lofty, we still see positivity in many areas including Europe, Japan and Asia.
Over the last quarter, higher rated bonds performed better than most in Fixed Interest, but we maintain our low interest rate sensitivity stance to protect capital whilst collecting a handsome yield. Global growth and continued Quantitative Easing (QE) should help to support fragile bond-issuers, but we remain selective in the credits we are exposed to.
Our considered equity allocation proved beneficial over the period as our higher conviction areas provided the best performance. We remain underweight UK as we perceive that there are better opportunities elsewhere which we expect to continue over the next quarter.
- Download the Investment Market Review & Outlook here.
- Download the Investment Model Portfolio Performance documents here.
View the video here:
Listen to the Podcast: