Quarterly Multi Asset Discretionary Reports

Investment Review Q1

An easing of lockdown should lead to an economic rebound to support rising yields and inflation rates. We are optimistic that UK equities will move out of the shadows of Brexit uncertainty and, together with a successful vaccine roll out, this presents interesting opportunities not seen for some time.

Investment Review Q2

Half way through 2021 and the pandemic – certainly in the UK – seems to have entered a new phase. How policy makers deal with this remains to be seen, but at the moment it seems that re-opening of our economies will continue as planned.

Investment Review Q3

As governments look forward, we are seeing a return of domestic politics and international brinkmanship - US debt ceiling, Polexit, China/Taiwan for examples; could this be back to normal or evidence of a rise in protectionism?

Investment Review Q4

An increasing caution on the outlook for risk assets follows naturally after three years of rising equities. Inflation has risen sharply recently and how central banks react will be crucial for markets this year. Long term investors are having to select from a reducing list of investment options.