Re-evaluating portfolios for H2 2018

Due to join in early 2019

Following high level of redemption requests

Fixing an overheating economy

In client meetings, it is usual to be asked about what we are worried about.

Everyone likes low prices, but if I said to you the level of Japanese consumer prices are now at the same level as way back in October 1998, then correctly you would conclude something is not quite right.

The UK macro landscape is anything but settled. As Brexit D-Day fast approaches and signs of any tangible progress yet to materialise, markets are gearing up for a prolonged period of uncertainty and confusion.

Geopolitical tensions rear their head in a meaningful way at least once a year, as a number of concerns join forces to generate headlines.

European credit markets were hit this year by the rise in global trade tensions, a sudden spark in equity volatility and further political risks in Europe, mainly Italy.

The US administration appears to be targeting export-oriented entities out of China.