After a torrid Q4 amid a global sell-off, we see plenty of reasons for sustained optimism for the rest of 2019.
As UK equity income investors, one sector we have found attractive is data or information service providers, which offer services to either corporates or consumers.
Brexit continues to dominate the headlines, with the overall prognosis no clearer.
Equities saw a relatively indiscriminate sell-off in Q4 of 2018, with increased volatility and widening valuation spreads.
We are all tired of talking about backstops and customs unions and voting blocs, but Brexit chat still manages to get centre stage to the exclusion of all else.
Fuelled by loose monetary policy, fixed income managers have had a tailwind for the past ten years.
When we look back at 2018, the market made several mistakes.
In 2018, emerging markets experienced a risk-off period, taking a hit from a combination of rising US interest rates, dollar appreciation and major political tensions pitting the US against China, Russia and Turkey.
If we have learned one thing in more than 30 years of investing in continental Europe it is that it is much more important to be invested in the right companies rather than trying to make top-down calls.
While our politicians, the media and many investors have their attention fixated on the Brexit negotiations, UK management teams have been getting on with the day job - and deal-making is on the agenda.
After many years, Indian corporate earnings seem to be accelerating, with around 20% growth expected over the next couple of years.
As we begin 2019, there are several key risks facing global asset markets.
We are excited and bullish about the opportunity set in Japan both from an equity and multi-asset, risk-adjusted perspective.
As 2019 gets underway, the macro environment is worsening.
Fuelled by cheap QE money
When it comes to the Japanese market currently, cash is in abundance, valuation metrics are not stretched and corporates have the capacity to increase returns to shareholders.
Caught between the growth potential of emerging economies and US tech, and the relative comfort of the UK domestic market, European equities are often overlooked by UK investors.
QT a big risk
Untainted by Brexit
2018 was a difficult period for the Japanese equity market.
Finished substantially ahead for 2018
The past six months in European markets have been dominated by two factors: profit warnings in the more cyclical sectors and an aggressive derating of mid-cap growth stocks.