The UK remains out of favour among global investors and, with domestic fund flows retreating, we have been taking this opportunity to add to UK equities as sentiment seems to have reached extreme levels.
Outperformers of last five years likely to struggle
When the referendum vote for Brexit occurred in June 2016 few could have predicted the outcome, and even fewer still could have positioned a portfolio accordingly. An unexpected outcome and disruption led to the UK stockmarket rising.
Challenge completed in 12 hours
After a terrible share price performance since the start of the year, Vodafone provided a more reassuring set of half year results last week.
Few regions have experienced as bifurcated an economic landscape as Europe over the past decade.
Among an array of macro uncertainties, such as trade wars, protectionism, Brexit and political uncertainty, one of the principal reasons for spikes in equity market volatility this year has been liquidity. Central banks have provided unprecedented levels...
Japanese stocks are about as cheap on a price to 12-month forward EPS ratio as they have been in many years and are cheaper than many of their global peers.
While surveys suggest the UK consumer is reasonably confident about their personal finances, we are less convinced.