High yield bonds have been an investor favourite the last year and a half, but it may not last. Learn more
Equities have been rising almost uninterrupted in 2017. In the year to date:
The S&P has advanced nearly 15%, with 242 days since it last dipped 3% or more…
The Dow has had 34 record finishes…
Japan’s Nikkei 225 is at the highest level since 1996, after a record 15 consecutive days of gains…
And the FTSE100 recently enjoyed a four week gaining streak…
As a result, and 30 years after ‘Black Monday’, many news sources are predicting a bumpy ride for the markets. Is a market correction imminent?
Generally positive economic news as well as a weakening dollar provided the backdrop for investors in July. For UK investors, this meant strong positive returns from almost all asset classes. Politics and Central Bank messaging continued to influence markets, but in a slightly more subdued manner than had been the case throughout the rest of the year. Learn more
Intelligent Investments is proud to announce that for the second consecutive year, we have been shortlisted for Best-Practice in Offshore Award in this year’s International Investment International Fund & Product Awards 2017. Learn more
Politics again dominated in April with the big news for European investors being the relief that centralist Emmanuel Macron progressed to the second round of the French presidential election and has then went on to secure election ahead of Le Pen. Elsewhere, there was an announcement of a snap election in the UK and investors mulled over Trump’s first 100 days in office against the backdrop of weaker than expected US growth. Learn more
News-wise it was an eventful month with the UK formally triggering Article 50 to begin the process of leaving the EU, the withdrawal of Trump’s healthcare bill, the US Fed raising rates by 0.25% and the Netherland’s avoiding the election of far-right candidate Geert Wilders.
PortfolioMetrix have just completed a formal asset allocation review for all portfolios, the results of which have just been implemented in their latest rebalance. How they decide on this asset allocation is reasonably technical, which they have already covered (the perhaps infamous ‘Black Litterman’ discussion), but they did want to highlight one key element of the process: PortfolioMetrix asset allocations are forward-looking, not backward-looking. Learn more
At Intelligent Investments, our discretionary investment managers don’t rely on external fund research as rolling up our sleeves and performing their own due diligence is fundamental to their investment process and being selected by Intelligent Investments. Not only is it important from a fund selection point of view, it is crucial from a portfolio construction point of view as it’s not really possible to combine funds together effectively into a portfolio unless one is intimately aware of their individual characteristics.
That said, not relying on third party research isn’t the same as being oblivious to what others are thinking. We’re a curious bunch, so when we come across analysis from others we quite enjoy pulling it to pieces to see what ideas are worth internalising, which methods we can learn from and what is, at best, just noise. Learn more