Paltry 0.35% of UK funds deliver top-quartile performance
Dismal first quarter gave way to an even worse Q2
Investment
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‘Burn and churn’ sees Alliance Trust offload a third of its portfolio
As investments in two oil & gas firms and a cement company raise eyebrows over its ESG credentials
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Wealth managers batten down the hatches as US enters technical recession
Tilt towards quality and defensive plays like short dated credit and govvies alongside rising cash levels
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Investment trusts trail open-ended rivals in H1
Equity focused closed-ended funds trounced but infrastructure and private equity vehicles prove more resilient
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Seraphim Space funnels £7.7m into new unlisted investments
£250m trust is 75% invested since its gravity defying IPO but is trading at a hefty discount
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Brunner Investment Trust hunts for new portfolio lead as Matthew Tillett exits AllianzGI
£476m trust sees latest manager reshuffle in two years
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Nick Train: Diageo share price drop is perplexing
LTIT manager expects ‘defensive’ favourites to do better, as falling commodity and Bitcoin prices signal collapse in investor confidence
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Will attractive yields entice investors back into investment grade credit?
Spreads have widened considerably over govvies after pricing in the GDP slowdown but default rates remain low
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F&C Investment Trust boosts cash levels sixfold as volatility ramps up
World’s oldest investment trust divests from global small caps and sheds more big US growth stocks in interim period
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Are passive ESG fixed income products safe?
Limited secondary trading for bonds means equities are better suited for index investing, says one portfolio manager
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Stagflation fears at highest levels since the global financial crisis
But concerns of a global slowdown appear excessive, says Liontrust’s Husselbee as he eyes up a portfolio rebalance
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Polar Capital Tech sheds £357m as inflationary pressures bite
After delivering stellar NAV growth of 45.5% in 2021
