Investment markets welcomed 2017 with a reluctant optimism which continued almost all the way through the first quarter. The positivity wavered at the end of March as Trump’s effective execution of policy was brought into question and Article 50 was triggered by the UK, initiating the start of the split from the European Union.
Global economic data is generally improving and, while every region has its challenges, we see opportunities in a multitude of areas. As has been the theme of recent times, politics may hold back progress rather than further it in many countries, and our own disengagement from the EU may create volatility for some time to come.
While last year’s unforeseen political outcomes created many more positive investment returns than we expected we believe that this year’s events may be less extreme, but with more mixed responses. As such, we remain well diversified in our assets and vigilant to the risks and the opportunities that will inevitably arise.
Read our full Market Review and Outlook contains a more detailed overview of the last 3 months and some of our thoughts for the next quarter: