North America

Underweight GBP and EUR

In the US, one exciting opportunity is in sustainable packaging, where volumes are moving meaningfully toward aluminium, which is infinitely recyclable and should have a lower overall life cycle impact compared to plastic.

Recent sharp movements are 'rare'

2019 was marked by US dollar appreciation

$12trn of global bonds trading with sub-zero yields

Joins from Fidante Partners

OCF 0.06%

Equities sold off aggressively during 2003 SARS outbreak

'Train is not going off the tracks'

Return of big banks and the end of austerity?