Le nostre notizie

Almost two months after the initial invasion, the ultimate conclusion of the Russia-Ukraine crisis remains uncertain. While the knock-on effect on energy supplies remains a concern, robust growth and labour markets provide some optimism as we await the realisation of more substantive interest rate rises.

In the most recent edition of our flagship client publication we dive deep in the world economy, behavioural finance and recent geo-political events.

The global economy is facing three interrelated shocks. New Covid-19 cases are once again gaining momentum in Europe and Asia – especially in China – worsening supply chain disruptions. In addition, the war in Ukraine will hinder global growth through many different channels. Lastly, central banks are under significant pressure to quickly normalise policy stances.

Capital markets fluctuated heavily as investors digested economic and geopolitical risks: Global equities rose 2.1% (in USD terms), while global investment grade bonds fell 2.2% (in USD).

We often speak about our bottom-up investment approach. However, in this Quarterly Letter, we (ironically) take a look at this approach from a top-down perspective, outlining our investment objective, as well as the people and processes that work to achieve this.

Post pandemic-shifts in the real estate market, we look at how different real estate sub-sectors have performed and where investors can look for returns.

In this Strategy Blog, we wanted to highlight some points that might paint a slightly more optimistic picture of the UK economy.