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Be calm, considered and patient

A letter from the JOHCM UK Opportunities team in light of the coronavirus-driven sell-off.  

  • Rachel Reutter
  • Michael Ulrich
13 Mar 2020
View PDF   Download PDF  
View PDF   Download PDF  
  • The covid-19 outbreak is leaving no part of the world untouched.
     
  • Whilst the pandemic will pass, companies with weak balance sheets may not survive the period of materially lower demand.
     
  • We have so far deployed cash into companies in the Fund where valuation opportunities arose and where there are strong balance sheets which can get to the other side, for example, Morrison’s, Serco and DCC.

Disclaimer

Past performance is no guarantee of future performance. The value of investments and the income from them may go down as well as up and you may not get back your original investment. The information contained herein including any expression of opinion is for information purposes only and is given on the understanding that it is not a recommendation. The Fund’s investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

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