Research

Our Research teams oversee our investment process and the stocks, bonds and funds that we include in our portfolios.

In addition, our Fund Manager team publishes research articles on topics that are of specific interest to investors in our Funds.

It is a virtue of our size that we do not have to have an off-the-shelf view on every investment in the universe. Our process is highly targeted: we are snipers rather than having analytical armies. Instead, we concentrate our efforts on identifying the very best stocks, bonds and funds for our portfolios. Nor do we worry about the composition of stock market indices, believing that size is no guarantee of quality, and we like to think thematically rather than over-analysing shorter-term market noise.

Our focus is on blending quality, value and momentum, to identify attractive investments for our clients.

Innovation

A weekly financial markets blog written by Jim Wood-Smith, CIO Private Clients & Head of Research.

Excuse me while I kiss the sky

21 January 2019

It is a long time since I used a Blue Monday pun on Blue Monday. I was sure that I had last year, but no: twelve months ago the theme was all about how January’s bull market would end in tears given enough time. With my usual 20/20 hindsight, it was an easy call to make. Just not as much fun as fooling around with New Order songs.

Take on me

14 January 2019

This may come as a surprise, but the stock markets remain open today. One might have thought otherwise, given the magnitude of the national tragedy that has befallen the soon-to-be Lord Murray of Dunblane. Hard though it is, we must go on, comforted by the rarity of my football team having won a match.

Beneath this snowy mantle

07 January 2019

May we wish all our readers a splendid New Year. By the accident of finishing on 31st December, the period of time generally referred to as ‘2018’ ended up being a bit of a growler. 2019 has started with a slightly sore head, but it is nothing that a dry January should not be able to put right.

Thematic Research

A collection of "bite-sized" research articles exploring a variety of investment themes and opportunities.

Cleaning Up

10 January 2019

2018 was a seminal year for recycling. The national conscience has finally awoken to the demanding issues of environmental sustainability, the impact plastic waste has on the world’s marine life (with at least some credit due to Blue Planet II ) and a belated realization that our waste is not someone else’s problem.

Tobacco

03 July 2018

It is a near trillion-dollar industry that counts 20% of adults globally as its customers. It also currently pays £6 billion of the UK market’s dividends (FactSet)

Rare

23 March 2018

In The Adventures of Tom Sawyer, Mark Twain tells us that in order to make a boy covet a thing it is only necessary to make the thing difficult to attain. De Beers successfully harnessed this concept by convincing the world that diamonds were exceedingly rare.

Jargon Busting

The investment world loves a flutter of jargon. It makes commentators sound ever so clever. Yet behind this flamboyant lexicon are often some fairly simple, easy-to-grasp concepts.

Underneath the Arches

Underneath the Arches is our quarterly newsletter for private clients of our Portfolio Management Services, in which we attempt to explain what has happened in investment markets in recent months and to lay out our expectations for the future.

Underneath the Arches: Winter 2018

21 January 2019

Few will look back on 2018 with affection. A year that began so brightly ultimately ran away with itself and ended with equity market falls uncomfortably reminiscent of 2008 and 2009. That, we are glad to say, is where the similarities with the Great Financial Crisis begin and end.

Underneath the Arches: Autumn 2018

16 October 2018

The long hot summer has passed into autumn. The long hot bull market is showing unmistakable signs of fatigue. The markets though are not mirrors of the seasons and weariness need not necessarily be followed by financial winter.

Underneath the Arches: Summer 2018

23 July 2018

There has been a steady pattern to our quarterly reports over recent years. Broadly, equity markets will have risen and we then do our level best to explain why there is still plenty that worries us.

Funds Research

Our Fund Manager Team publishes research articles on topics that are of specific interest to investors in our Funds.

September 2018: Daniel’s Tour of China

30 October 2018

Daniel Lockyer made an action-packed trip to China, which included 24 meetings and presentations over 5 days with the senior management of private and public companies and state-owned enterprises.

The Roman god Janus' lessons for investors

28 September 2018

The mythical Roman god Janus was depicted with two faces, back-to-back, pointing in opposing directions; an apposite picture for the god of beginnings, transition and endings. Janus had qualities which should have made him a good investor.

Clarifying the effect of synthetic OCFs on our Funds

25 June 2018

Investors may be aware of the new Packaged Retail and Insurance-based Investment Products (PRIIPs) legislation, which came into effect at the beginning of the year, requiring all listed Investment Companies (ICs), including investment trusts and closed-ended funds, to produce a Key Information Document (KID).

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