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Investment Commentary_
Seneca: Recognising quality, value and performance
External recognition is always pleasing and at Seneca IM, we are delighted our value approach and the performance we are delivering to investors has led to us being recognised as finalists in the Specialist Investment Awards 2017 in two distinct categories: Multi Asset Group of the Year Boutique Management Group of the Year (multiple strategies) The winners will be announced in late October. Our unique Multi-Asset Value Investing approach of searching wider continues to deliver excellent returns whilst balancing risk.
Legg Mason: Bridges Freeze Before Roads: Go Slow
In a way, the Fed was a key first responder to the global financial crisis. And now, its going to be the first major central bank to pursue quantitative tightening (QT), the more uncertain leg of its great monetary policy experiment.
Legg Mason: Flooding in Texas: The Impact on Insurers
Though severe enough to impact earnings, the flooding in Texas is unlikely to hurt property & casualty insurers badly enough to force rates higher.
Investec Wealth & Investment: Hurricane Watch Weekly Digest
Welcome to this week's edition of Weekly Digest; a topical in-house review of world stock markets and the global economy. This week John Wyn-Evans reflects on the stock market crash of 1987, and looks at whether there are similarities today.
Digging below the surface of UK indices Rathbone Investment Insights Q4 2017
Investors today are paying a relatively high price for the domestically focused FTSE 250 compared with its larger multinational peers in the FTSE 100. This may seem counter-intuitive given Brexit uncertainty. This divergence is creating both opportunities and challenges for investors.
Investec Wealth & Investment: Crisis? What Crisis? Weekly Digest
Welcome to this week's edition of Weekly Digest; a topical in-house review of world stock markets and the global economy.
Seneca: Peter Elston - Monthly Investment Letter
Peter continues his critique of active management and how it should be measured. This month, he applies the methods of Professor Ross Miller to measure the "active-ness" of funds in the IA Mixed Investment 20-60% Shares sector, with some interesting results.
Legg Mason: Synchronized Earnings Growth and Leveraged Finance Markets
The synchronized recovery in global earnings finally appears to be here. Every major market region in the world is now seeing significant earnings growth. Are there still opportunities in global high yield?
Responsible Junk The challenge of integrating ESG factors into a global high yield bond portfolio
Whether you call it Green, Responsible Investing or ESG (environmental, social and governance), there is no doubt that it is now a firmly established part of the investment landscape, having evolved from something of a niche interest to a mainstream concern in the space of just a few years. Growing awareness of a range of environmental and social issues has seen an ever larger number of investors move their focus away from purely financial goals towards an approach that also considers the social and environmental impact of their investments.
Rathbones: Sickly situation
Sterling has had a raucous few weeks. We have long noted that, following last years referendum, the currency has become the barometer of Brexit. It is also the political pulse of Theresa Mays government.
M&Gs BVTV: The race to the next Fed chair
President Trump is expected to announce his pick for the next Fed chair imminently, as Janet Yellens term expires in February 2018. Trump being Trump, the outcome is particularly hard to predict. Jim Leaviss joins Pierre Chartres on BVTV today to talk through the leading candidates and what they would mean for financial markets if selected.
Utmost Wealth: Finance Bill 2017-19
Our latest technical briefing is now live our uTECH page - Finance Bill 2017-19.
M&G: Learning Matters Seminars
Following previous success, M&G is back with the fourth round of Learning Matters seminars. Join us for the following educational, fund-free sessions:
Schroders: Three charts on why UK banks are far stronger than pre-Northern Rock
A decade on from the very first inklings of the financial crisis, we rerun three simple charts that show why we believe the risk-reward trade-off for the UKs big four high street banks continues to look attractive
Legg Mason: Bridges Freeze Before Roads: Go Slow
In a way, the Fed was a key first responder to the global financial crisis. And now, its going to be the first major central bank to pursue quantitative tightening (QT), the more uncertain leg of its great monetary policy experiment.
Legg Mason: Flooding in Texas: The Impact on Insurers
Though severe enough to impact earnings, the flooding in Texas is unlikely to hurt property & casualty insurers badly enough to force rates higher.
M&G: Joffys Journal: Demographics
In the second in a series of videos looking at the change in investor behaviour over the years, Global Head of Retail Sales, Jonathan (Joffy) Willcocks looks at how demographic changes have begun to change the asset management landscape, and what we can expect in years to come.
Rathbones - The power of increments: small changes over a long time
Dont be distracted by what seems potent now, try to look forward to what will really make a difference to the landscape. A fierce wind whipping around you today will have died away in a years time. But a glacier will have crept forward a third of a mile.
Rathbones weekly review: Balancing power
About 170 years ago, the Conservative Party was split by a bitter battle between the countryside and the cities. Using hefty tariffs on imports, the Corn Laws kept grain prices and therefore bread and food prices high and ensured the dominance of landowning aristocrats over the manufacturing mogul and their workers.
Prudential Market Insights from PPMG
The second instalment of PPMGs monthly marketing insight is now available.
RLAM announces the largest ever launch of a UK property fund
Royal London Asset Management announces the largest ever launch of a UK property fund, worth over £2.7 billon. The Royal London UK Real Estate Fund (RLUKREF) invests in UK commercial property across all major sectors (industrials, offices, retail warehouses, shopping centres) and regions and is designed to provide domestic and foreign institutional investors exposure to the UK commercial real estate market.
Time to switch gears?
After a decade of easy money meeting the cost of living has become increasingly challenging as yields on traditional income-generating assets have fallen and inflation has picked up.
Legg Mason: A Yen for the Yen?
Japan has been pumping out some relatively spectacular growth numbers this year. Yet, the modest upward trajectory of the yen has been underwhelming. Whats the story? And is this growth a flash in the pan or a whiff of something different coming out of Japan?
Rathbones weekly review: The Prince(cess)
The UK will pay 20bn (£17.6bn) to the EU as a down-payment on a much larger Brexit bill, Prime Minister Theresa May agreed in Florence last week.
Legg Mason: Has the phillips curve flattened?
Is the Fed's action the final nail in the coffin for the Phillips Curve, the model that describes the relationship between rates of unemployment and rates of inflation in an economy? We are not quite ready to throw in the towel on this theory.
Aviva Investors: North Korea: one step closer to the brink?
Risk is rising on the Korean peninsula. We ask a political and market expert about the possible consequences.
Aviva Investors: Can India reap the demographic dividend?
Indias economy lags Chinas in many areas, but in one crucial respect it has the edge: its favourable demographic profile. But will India be able to capitalise on this advantage?
M&G: The value enigma false dawn or resurgence?
Was last years value revival a brief outlier in the post-GFC underperformance versus quality and growth? Or is there still structural support for a long-term value comeback?
Investec Wealth & Investment: Desperately Seeking Satoshi Nakamoto
Satoshi Nakamoto. The name used by the unknown person(s) responsible for creating Bitcoin. In this week's Weekly Digest, Head of Investment Strategy, John Wyn-Evans, explores the rise of cryptocurrencies.
BlackRock: You told us. We listened.
Welcome to the refreshed 08:40 from BlackRock, featuring content that is relevant to you and your clients. Some of the links are going to take you directly to the Adviser Exchange, where all the content can be found.
Rathbones weekly review: Bond mans Bluff
Central bankers whipsawed gilt markets last week. After months of downward pressure on yields, the 10-year flew from 0.99% to 1.31% in a week. A much more aggressive Bank of England (BoE) was the cause.
Latest Marten & Co research on the Seneca Global Income & Growth Trust
Attached is a new research note from Marten & Co, which gives an overview of recent developments in SIGT. This includes the recent change to the Trust's benchmark introduced at it's annual general meeting on 6th July 2017.
Investec Wealth & Investment Market Commentary September 2017
"The latest upheavals in the White House; inconclusive Brexit negotiations; populist outcry in any number of countries; and missile tests in North Korea, to name but a few regular headline-makers. And yet the last six months has been another period of prosperity for investors, with equity markets making several new all-time highs and volatility remaining low apart from a couple of short spikes a classic case of what is described in financial circles as climbing a wall of worry. Investors have been worried about a lot of things for a long time..."
M&G Investents: BVTV: The ECB, primary markets, and the insurance industry
This week on BVTV Anthony Doyle speaks with Dr. Wolfgang Bauer, M&G fund manager.
Rathbones weekly review: Irma overshadows Brexit debate
As Parliament reconvened to debate the European Union withdrawal bill, the fractious Brexit discussions were overshadowed by the devastating impact of Hurricane Irma as it swept across the Caribbean.
M&G: Equities Market Perspectives
In this months update, Investment Director Ritu Vohora looks at the case for investing in Japanese equities, which is arguably the strongest its been for many years.
Investec Wealth & Investment: Bullets Dodged...For Now
Welcome to this week's edition of Weekly Digest; a topical in-house review of world stock markets and the global economy. Head of Investment Strategy, John Wyn-Evans, has provided some short commentary on North Korea in previous editions of Weekly Digest. This week John offers more in-depth analysis on the situation.
M&G: Joffys Journal Global financial crisis
In this first in a series of videos looking at the change in investor behaviour over the years, Global Head of Retail Sales, Jonathan (Joffy) Willcocks examines the global financial crisis and the ensuing reaction from investors.
M&G: Kicking off Finance
Fund Manager, Jim Leaviss is put through his paces by a hard-hitting, football loving journalist.
Investec Wealth & Investment: Autumn Leaves, Weekly Digest
Welcome to this week's edition of Weekly Digest; a topical in-house review of world stock markets and the global economy. In this week's Weekly Digest, our Head of Investment Strategy, John Wyn-Evans lays out the key events investors should have marked on their calendars between now and Christmas.