Markets change, but human nature does not. This year's pandemic-induced swings in sentiment have created opportunities to buy best-in-class cyclical businesses in unloved industries.
Mainstream investors are still looking elsewhere
The pet care market offers moderate but stable growth prospects, helped by a constant rise in pet ownership and increase in spending per pet.
How should investors behave in the current environment? There are many studies that show high yielding shares have historically provided superior total returns compared to the broad UK market.
Firstly, equities. The companies we invest in continue to pay their dividends, even when many others are cutting or suspending theirs and/or raising equity.
The market response first, to the Covid-19 crisis, and second, to the huge stimulus packages announced to offset it, has been astonishing.
As multi-asset investors focused on income generation, we do not think going against global central banks is prudent, and until we see a meaningful turnaround in economic data, our preference for adding to risk is likely to remain for debt over equity...
Fiscal stimulus and central bank intervention possibilities
The onset of the current crisis has exposed fragilities in the global economy caused by a long obsession with efficiency, to the exclusion of all else.
Deciding how best to ease the UK's coronavirus lockdown is proving as divisive as Brexit.
The first quarter was a rollercoaster for global credit markets with a severe, homogeneous sell-off, followed by a sharp, if more modest, central bank-induced recovery.
The global lockdown has decimated some businesses with those in leisure, travel or retail seeing revenues collapse to zero.
During the 2008 Global Financial Crisis, recovery was largely in the hands of the governments bailing out troubled companies and providing liquidity to the system.
Investors who have sat out the bull market in precious metals may wonder if they have missed the train.
2020 will be remembered by UK income investors for decades to come.
Following the financial crash of 2008, investors have benefited from a decade of bullish markets, and while there were indications that a slowdown was on the horizon, economic stasis caused by a flu pandemic was not on anyone's radar.
Emerging markets have underperformed global and developed market indices over the past ten years, in spite of having greater opportunities for earnings growth.
A steep contraction in the UK economy is all but inevitable. Indeed, the latest survey data points to a sharp drop in activity since the start of the Covid-19 crisis.
With the UK facing the prospect of the sharpest drop in economic activity for more than 300 years, now seems a challenging time to be searching for growth.
Industrial real estate was historically the grafter of the real estate market, the small, often hidden part of a manager's portfolio.
Covid-19 and the measures taken to contain it have caused an extraordinary level of operating losses, debt accumulation and dividend cancellation across the UK equity market.
While new coronavirus cases are plateauing, although not yet declining significantly, countries in Europe are beginning to judge the economic pain wreaked by Covid-19 containment measures to be worse than the infection itself and are shifting focus slowly...