The UK government borrows most of its money as Gilt-Edged Securities or Gilts for short. Only a few issues are released each year and so, if you can find a list of them online, it is relatively easy to see what is available. Each one has an end date when cash is returned to the […]
Are Gilt Ladders Worthwhile? Read More »
Much of what happened in the first quarter of 2025 is inconsequential given what happened in the days following the end of the quarter, which we will touch on later as it would be remiss of us not to. For those of you interested in the data or have forgotten what happened before the last
Q1 Investment Update – Taxes and Tariffs Read More »
Just like 2023, 2024 was another good year for risk assets globally – in fact it was even better. The MSCI ACWI index returned 20% over the year, coming off the back of a 15% rise in 2023. This was achieved despite interest rates not falling as far as the markets initially hoped and expected,
Broken Crystal Balls Read More »
The third quarter of 2024 was more volatile than the first half of the year, as investors tried to make sense of conflicting economic data, central bank messaging and the deteriorating situation in the Middle East.
Q3 Investment Update – Burn After Reading Read More »
2024 has been dubbed the year of the election, with at least 65 taking place across the globe with nearly half the global population involved. At home, we’ve just had our first change in government in 14 years and many of our clients ask us what this will mean. The truth is, from an investment
Q2 Investment Update – Ignore the Noise Read More »
Equity markets started 2024 like they ended 2023, with global equities (as measured by MSCI ACWI) returning 8.7% in the first quarter. This has been led once again by the US, followed closely by Japanese equities which have continued their recovery to end the quarter as the second best performer. All other equity regions registered
Q1 Investment Update – Reap the Rewards Read More »
Christmas came early for investors as a Santa rally in equity markets through November and December in particular, left investors with much to cheer. The MSCI ACWI index (which represents 98% of the investable stock market universe globally) finished the year 15% higher than where it began. There was also, finally, good news for bond
Q4 Investment Update – Santa Rally Read More »
Many people breathed a sigh of relief as, finally, the Bank of England paused interest rate rises for the first time since December 2021, during which time they have raised the base rate from 0.1% to 5.25%. This followed a similar move in the US from the Federal Reserve who also did not raise rates,
Q3 Investment Update – Pause for Breath Read More »
Sticky inflation, rising interest rates, bank failures, an attempted coup in Russia, the US narrowly avoiding default by a matter of days and an ongoing cost of living crisis. You’d be forgiven for thinking these events have spooked financial markets but the reality has been very different, with markets performing better than even most optimists
Q2 Investment Update – Magnificent Seven Read More »
2023 got off to a better start than 2022 and was looking likely to correct some of the previous year’s losses. We have long said that markets tend to overshoot on the downside as well as the upside. It is the following sharp correction to the overshoot which catches market timers out. Then came a
Q1 Investment Update – Banks again Read More »
