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UK Equity Income Bulletin

“Ignore Chicken Licken pessimists” – Andy Haldane, Bank of England chief economist

  • James Lowen
  • Clive Beagles
02 Oct 2020
View PDF   Download PDF  
View PDF   Download PDF  
  • Brexit and Covid-19 concerns led to the continued dominance of defensive parts of the market in September. 
  • The Fund’s poor performance now is similar to its performance during the global financial crisis (GFC); we expect a strong rebound when the market narrative changes, as we saw in the years following the GFC.
  • Dynamics that could change the narrative include economic recovery, rising inflation expectations, a Brexit resolution, increased M&A or a Covid-19 vaccine. 
     

Disclaimer


For professional investors only. 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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