EdenTree's Harris: How to gain exposure to the 'Lipstick Effect'

As fears of political and economic uncertainty rise, we can see the effect taking hold on the British consumer.

For example, Visa announced UK consumer spending fell in four of the five months to October. I believe we will now see the effect accelerate, as consumers forego big-ticket purchases, such as furniture items or new cars, while maintaining or increasing expenditure on less expensive discretionary spending items.  We are already seeing signs of this hitting the stockmarket. Earlier this year, DFS' share price dived by more than 20% after its CEO blamed uncertainty about the General Election for a profit warning. EdenTree IM launches short-dated bond fund The sofa giant saw a 'sign...