Economic Commentary – August 2017

September 6th, 2017, by Georgina Ogilvie-Jones

Despite various political and economic events, equity markets have made headway in the year to date. The FTSE 100 started the year at 7,142 and is now at 7,438 having finished July at 7,372, indicating very modest returns in the… Read More…

Market Monitor – August 2017

September 5th, 2017, by Georgina Ogilvie-Jones

All major equity indices have made gains over the last 12 months in Sterling terms. Whilst the FTSE 100 one year return of 14% appears modest in comparison with a 26% return from the FTSE World Europe ex UK it… Read More…

Economic Commentary – July 2017

August 3rd, 2017, by Georgina Ogilvie-Jones

The FTSE 100 is now at 7,423 having started the year at 7,142 and finished June at 7,312. The index returned 5.6% to the end of June, to be set alongside 7.3% for the FTSE World index. Gilt returns have… Read More…

Market Monitor – July 2017

August 3rd, 2017, by Georgina Ogilvie-Jones

July saw only modestly positive returns from most global equity markets in Sterling terms. The FTSE World index returned 1%, FTSE 100 0.9% and the S&P 500 and FTSE Japan were effectively flat returning 0.5%. Only the indices which we… Read More…

Economic Commentary – June 2017

July 13th, 2017, by Georgina Ogilvie-Jones

We are now nearly a decade on from the financial crisis and the major world economies remain characterised by comparatively low growth and low inflation. Equity markets have seen good absolute returns in the year to date. By the end… Read More…

Market Monitor – June 2017

July 13th, 2017, by Georgina Ogilvie-Jones

June was a lacklustre month for both equities and bonds. Equities declined in the UK (-2.4%) and Europe (-1.3%) and were flat in other regions and at the global level (FTSE World index). The only exception was the FTSE Asia… Read More…

Down the Rabbit Hole – Fixed Interest

June 23rd, 2017, by Georgina Ogilvie-Jones

Argentina issued a 100-year bond this week with a coupon of 7 1/8% and a yield of nearly 8% (which will change in line with the price of the debt and is not guaranteed). It was extremely oversubscribed with $9.75… Read More…

Economic Commentary – May 2017

June 15th, 2017, by Georgina Ogilvie-Jones

The global economy is extending its broad-based recovery, with stronger data coming through from Europe and emerging markets to set alongside established US recovery. Corporate earnings prospects are reasonable, but could see subtle negative effects from more populist policies in… Read More…

Market Monitor – May 2017

June 15th, 2017, by Georgina Ogilvie-Jones

Equity markets advanced in May and the FTSE World index had a total return of 2.5%. At a global sector level it was a positive month for more defensive stocks with utilities, consumer staples and technology all among the best… Read More…

Election Update – 9th June 2017

June 9th, 2017, by Georgina Ogilvie-Jones

The general election has resulted in the incumbent Conservative party falling short of a majority. An informal arrangement is therefore being negotiated with the right-wing DUP to secure their 10 seats in Northern Ireland and avoid the pitfalls of a… Read More…

Market Monitor – April 2017

May 30th, 2017, by Georgina Ogilvie-Jones

After a strong 6 months for Sterling-based investors, equity markets consolidated in April with mixed results for regional markets. The total return of the FTSE 100 dropped 1.3% and the S&P 500 lost 2.4% in Sterling terms across the month,… Read More…

Economic Commentary – April 2017

May 9th, 2017, by Georgina Ogilvie-Jones

The surprise announcement of a UK general election in June impacted financial markets in April. The FTSE 100 is now at 7,265 having started April at 7,323 and started 2017 at 7,142. All of our core UK equity fund choices… Read More…

Economic Commentary – March 2017

April 21st, 2017, by Georgina Ogilvie-Jones

The FTSE 100 made some headway in March, despite volatility along the way, finishing the month at 7,327, having started the year at 7,142. Our more defensively positioned UK equity income fund choices outperformed the market in March with many… Read More…

Market Monitor – March 2017

April 13th, 2017, by Georgina Ogilvie-Jones

Global equity markets generally had a positive first quarter, despite political risks and the absence of any particular improvement in fundamental data. Currency continued to be a major influence on returns. The FTSE 100 has a total return of 3.6%… Read More…

Economic Commentary – February 2017

March 15th, 2017, by Georgina Ogilvie-Jones

Markets have continued their general upward trend in 2017. After falling slightly in January, February saw the FTSE 100 index make headway once again, ending the month at 7,374. At a global level, equity prices remain elevated, with all of… Read More…