UK

Philip Hammond, the newly appointed Chancellor, has been given an excuse to abandon the concept of austerity and try to address two key issues at the Autumn Statement: housing and infrastructure.

Shares dropped by nearly 3%

Reporting to Frédéric Janbon

To be managed by William Lock

Does not rule out further rate cuts

Previously co-manager on UK Alpha fund

Investors pulling out of UK equities and property

Working with several institutional funds

EMs back in favour

The UK faces increased economic uncertainty and potentially lower growth. Meanwhile, the weak pound may lead companies to raise prices to offset higher input costs, writes Tineke Frikkee, manager of the Smith & Williamson UK Equity Income fund.