Current views - April 2019
Our investment team assesses the prospects for a range of asset classes and currencies
Reasonable valuations and moderating growth lead us to be neutral on equities.
We prefer USD bonds to EUR and GBP bonds. More attractive valuations in US inflation-linked and emerging market bonds.
Attractive diversification characteristics compared to equities and bonds. Remain cautious on UK commercial property.
Cash has defensive and opportunistic qualities in uncertain and volatile markets.
We like the diversification characteristics of trend followers and long/short strategies.
Commercial property (UK)
Ongoing concern for the UK commercial property environment, but income characteristics remain attractive.
Gold is attractive as a diversifier, portfolio insurance and an inflation hedge.
This article is issued by Cazenove Capital which is part of the Schroder Group and a trading name of Schroder & Co. Limited, 1 London Wall Place, London EC2Y 5AU. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Nothing in this document should be deemed to constitute the provision of financial, investment or other professional advice in any way. Past performance is not a guide to future performance. The value of an investment and the income from it may go down as well as up and investors may not get back the amount originally invested. This document may include forward-looking statements that are based upon our current opinions, expectations and projections. We undertake no obligation to update or revise any forward-looking statements. Actual results could differ materially from those anticipated in the forward-looking statements. All data contained within this document is sourced from Cazenove Capital unless otherwise stated.