The UK – not quite out of the woods yet

With under three weeks to go to the UK general election, it is looking increasingly likely that the Conservatives will be returned with a majority. They remain at least 12% ahead of Labour in the polls and the gap has if anything been rising, rather than falling.

Thoughts on the UK election

We have recently added to our UK equity holdings, eliminating our longstanding underweight. Although uncertainties undoubtedly remain, our view is that the risk of the two most market unfriendly outcomes – a No-Deal Brexit or Labour winning a majority – is now quite small. With the pound and UK equities both still cheap, we believe a neutral position on UK … Read More

Equities pause for breath

Equity markets ended last week little changed. Investor focus remained firmly on the steady, but often conflicting, stream of sound-bites regarding the state of US-China trade negotiations. While progress remains slow, we still seem on course for a limited trade deal to be agreed eventually. Such a deal will be critical if the market rally over the last month is … Read More

Kingswood presents investors with a rare opportunity to achieve outsized returns

• finnCap recently released detailed research note on Kingswood prospects • With underlying sector tailwinds across both UK and US markets, company deemed set to achieve outsized returns for investors • Kingswood now benefits from up to £80m permanent growth capital to create a global, scalable wealth management infrastructure, not just a bolt-on acquisition driven growth model • IFA market … Read More

Adding to equities

The ‘risk-on’ move in markets continued last week with global equities rising a further 1% or so in local currency terms, led by Emerging Markets and Asia. Government bond yields also increased with 10-year US Treasury yields now back up to 1.93%, close to 0.5% above their early September low.

Global equities break higher

Following a couple of failed attempts in July and September, global equities finally last week broke clear of their January 2018 high. Importantly however, at least for UK investors, the break higher is only in local currency terms. The recent bounce in the pound means global equities, in sterling terms, are still languishing some 4% below their July high.