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The world has changed

Paul Wild, manager of the JOHCM Continental European Fund, gives his take on the Coronavirus-driven sell-off. 

  • Paul Wild
23 Mar 2020
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View PDF   Download PDF  
  • Continental European equity markets have suffered their sharpest ever sell-off in recent weeks as earnings visibility has evaporated.
  • We should all prepare ourselves and our portfolios for the possibility that freedom of movement restrictions may last for rather longer than is widely expected.
  • But we anticipate a strong market recovery once the signs emerge that the pandemic is under control, although we will remain vigilant in the coming month or two when we expect headlines concerning corporate gridlock to dominate.
     

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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