Bigger than the Roman Empire

unnamed-5It is common belief that bigger is better, but we do not always endorse that.

One of our functions is to choose which managers to trust our clients’ capital with: manager selection is not a scientific process, there is not a unique set of rules to “evaluate them all” and parameters to analyse are countless. Among these, we consider size (be it of the strategy, the investment team or the firm) to be a meaningful factor.

Lorenzo La Posta of Momentum Global Investment Management, one of our UK regulated, discretionary fund managers shares their view. Click here to learn more.

 

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Composure in Tough Market Conditions

Corbett-By-Slatter-big-wave-awardsSeptember and October were torrid months for global markets. From a high on 28 August, the MSCI AC World in GBP was down by over 9% by 24 October. The FTSE 100, which had been falling for longer, was down over 10% in October from highs reached in May, even with dividends included. What’s worse, this was the second selloff this year.

Both indices had fallen by a similar magnitude over the first quarter of 2018.

Market falls are unsettling for investors, leading to questions like, “what if this time is different, what if markets never recover? Should I be doing something different?

Brandon Zietsman, CEO and Head of Investments for PortfolioMetrix, our UK regulated discretionary investment manager, which delivers superior, consistent returns through their technology enabled approach, shares their view. Click here to view.

Return to Cyclical Normality?

Screen Shot 2018-10-09 at 11.17.07Momentum Global Investment Management, one of our UK regulated discretionary investment managers, held their 17th annual investment conference in London last month.

The theme of this year’s conference was ‘Return to Cyclical Normality?’ Ten years on from the global financial crisis, the era of ultra-loose monetary policy is ending and central banks, led by the Fed, are in the process of gradually normalising policy. Is the World now returning to a more normal cyclical pattern, marking the beginning of the end of the extraordinary economic and market conditions of the past decade?

Glyn Owen, Investment Director of Momentum Global Investment Management, with over forty years of market experience, examines this critical question and its implications for investors, as well as the minefield of geopolitics and the rapidly evolving international order. Click here to learn more.

FAANGtastic Returns

FAANG-StocksThe high performing FAANG stocks – Facebook, Apple, Amazon, Netflix and Google – have led the market higher over the past 12 months. Their high valuations – Amazon is currently trading at a price-to-earnings ratio (PE) of 195 – and high-tech bent has resulted in inevitable comparisons with the Dotcom bubble at the turn of the century. We do not believe we are in for a repeat of this particular boom and bust cycle, and while we are cautious on the broader US market, we are happy for our managers to continue taking appropriate risks where they see opportunities.

Richard Stutley (CFA) of Momentum Global Investment Management, one of our UK regulated, discretionary fund managers shares their view. Click here to learn more.

Macro Matters

When we raise the issue of the importance of macro, we sometimes get the response: ‘no one has a good record predicting macroeconomic variables like GDP growth’; ‘where do you start when it comes to the many interrelated factors that influence inflation?’; or more bluntly ‘why bother?’.

Jernej Bukovec (CFA) of Momentum Global Investment Management, one of our UK regulated, discretionary fund managers shares their view. Click here to learn more.

Tech Still all the Rage While Bears Prowl Emerging Markets: BAML Survey

imageGlobal investors remain overwhelmingly bullish on US and Chinese tech shares, while short positions on emerging equities are growing increasingly popular, Bank of America Merrill Lynch’s latest monthly institutional investor survey showed on Tuesday. Learn more