Whilst political risk remains ever present on the front pages of the newspapers, markets continue to climb the ‘wall of worry’ helped by abundant global liquidity. For sterling investors this has been greatly enhanced by the translation effect of a weak currency on overseas assets and the overseas earnings of UK listed companies. Whether fears of a ‘hard Brexit’, a new President with control of Congress or various European elections cause a sustained reversal is a matter of debate. My sense is that we should be watching for signs of tightening liquidity, whether due to higher interest rates or dollar strength against global currencies (not just sterling). Our portfolio views given this nuanced outlook are set out briefly in our market update overleaf, but will also be a subject for the current round of client meetings and our annual Charity Forum at the IET on 17th November.
This edition of our newsletter also highlights the recent release of ACF’s report on Giving Trends and Kate Rogers’ success in championing a new structure for pooled Charity funds in her role as Chair of the Charity Investors Group.
We look forward to seeing many of you over the next few months to discuss these issues
- Naman Mahfooz passed unit two, UK Financial Regulation, of the CISI Investment Operations Certificate.
- Caroline Hooft-Graafland passed level two of the Chartered Financial Analyst qualification
- Emilie Coxwell-Matthewman passed unit two, Portfolio Construction, of the CISI Chartered Wealth Manager qualification
- Joanna Dunn became a trustee of the Heritage Crafts Association, a charity dedicated to supporting and advocating traditional heritage crafts to ensure their sustainability in the future.
- Kate Rogers recently organised a fundraising lunch in partnership with the Hands Up Foundation to raise money for Syria. By feeding 200 people delicious Syrian dishes prepared by London-based chefs, the charity will be able to feed 1000 people in Syria for a month.
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