Our Views on the Markets and the Economy

The financial markets misjudged the election outcome. For the second time this decade, Britain has elected a minority Conservative Government - the last time from 2010-15 it ruled in coalition with the Liberal Democrats. This time it will be supported by the Democratic Unionist Party (DUP), albeit not in a formal coalition. This will add to political uncertainty, particularly ahead of the Brexit negotiations.

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The end of May marked the one year anniversary for our sterling portfolios. We’re happy to report that this has been a positive period across the board for our seven Risk Levels. Despite the volatile political backdrop over the past twelve months, markets have mostly been well behaved and our portfolios have performed well. A diversified approach across regions, currencies and asset classes has been key.

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Private school fees in the UK rose by 3.5% last year, according to the latest figures from the Independent Schools Council (ISC) released in May. Boarding fees rose by 4.1%, while day fees increased by 3.5%. While the ISC reports that this is the lowest increase since 1994, fees hikes continue to outstrip earnings growth and inflation.

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UK General Election: what to look for

With the UK General Election fast approaching on Thursday June 8th, what are the key issues for investors? And, in the case of a shock election outcome, what would be the implications for financial markets?

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UK General Election: what to look for

With the UK General Election fast approaching on Thursday June 8th, what are the key issues for investors? And, in the case of a shock election outcome, what would be the implications for financial markets?

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Managing Market Volatility

Volatility is an important measure in financial markets. At times of stress or uncertainty, volatility rises. In contrast, low volatility is usually associated with stable or predictable conditions. In recent months, volatility has been relatively low.

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Britain’s wealth management industry is in need of big overhaul. The bespoke portfolio - which is more likely to underperform than a centrally managed portfolio and cost clients more - illustrates why this industry is ripe for change.

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UK inflation: An Update

Inflation is one of the key current domestic issues the UK economy faces. And in turn it drives monetary policy and has a major influence on the outlook for financial markets. Since the Referendum result last June, the UK economy has performed very much as we had expected - even though at the time our view differed from the consensus.

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Britain’s wealth management industry is in need of big overhaul. The bespoke portfolio - which is more likely to underperform than a centrally managed portfolio and cost clients more - illustrates why this industry is ripe for change.

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The results of yesterday’s French Presidential election were broadly in line with the polls, as centrist Emmanuel Macron emerged victorious with 66% of the votes, emphatically defeating the far-right Marine Le Pen.

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