Equities

Country selection is key

Last September, we estimated the chances of a US recession occurring in 2016 as one in three. This prediction was less bold than it sounds since recessions have occurred, on average, about once every five years in US history.

£4bn hedge fund run by Martin Hughes

Agreed merger with Deutsche Börse

Now predicts two quarter point rises

OBR forecasts 2% growth in 2016

Managed by affiliate DNCA

Investors have been complaining about the lack of volatility for some time now. Perhaps given the bumpy start to 2016, a few are feeling they should have been more careful what they wished for, writes Investec AM's Alastair Mundy.

The structural forces of ageing populations, increasing debt levels, the abundance of capital and competition, and a move to protectionism by many countries creates a backdrop of low growth.

Follows acquisition in 2014