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Anticipated downturns should not weigh on long-term decisions

There has always been a demand for income, but in the past decade, the hunt for yield has become more challenging due to the ultra-low interest rate environment.

Value stocks may have enjoyed a welcome change in fortunes in recent weeks, but they have been swimming against the tide for years as investors have sought the perceived security of quality and low-volatility stocks.

Sub-advised by Baillie Gifford and Marathon Asset Management

Research from Willis Owen

Assessing their usefulness and reliability

Trust up 20.9% in the year to 31 July

UK weighting reduced

Repositioning portfolio

Investors should not be afraid of taking risks