Insights, views and fund updates

At the sector level, key positive contributions came from the materials and consumer discretionary sectors in Brazil, while our holdings in Chilean banks were a drag on performance. Read more

We are especially positive as the mid cap area of the market continues to give considerable scope for further outperformance as the world continues to recover from the Covid-19 pandemic. Read more

The Fund’s underlying equity portfolio collectively underperformed due principally to the portfolio’s exposure to the previously strongly appreciating more cyclical areas such as the consumer discretionary, industrial, and materials sectors. Read more

We stress that the pandemic has tested almost every business to its very fibre and not only have innovators proven much more adaptable and robust, but their ability to innovate has proven crucial to the functioning of the economy during this time. Read more

The Fund’s underlying equity portfolio collectively underperformed due principally to the portfolio’s exposure to the previously strongly appreciating more cyclical areas such as the consumer discretionary, industrial, and materials sectors. Read more

The Fund's performance in the second quarter of the year was driven by positions in Alphabet, Adobe, Roper and Contact Energy. Read more

Overweight positions in all three of Brazil, Russia and India, all of which performed well and contributed positively to Fund returns on both an allocation and stock selection basis. Read more

The largest contribution to the positive quarter came from the IT sector where the Fund is mildly overweight, but with the majority of excess returns coming from stock selection. Read more

We continue to believe that our central theme of disruption will be a key determinant of those companies which can get back to sustainable growing dividends and those that can’t. Read more

Tech and healthcare led the charge and we benefited from our exposure to US mega cap tech as sentiment returned to safer havens of Microsoft and Apple. This trend extended to the UK, with Halma and Sage displaying characteristic resilience. Read more

US equity markets continued their strong rally but were driven more by the secular growth areas of the market as opposed to the more cyclical areas which have dominated in recent quarters. Read more

The strongest performers over the quarter were NVIDIA, Microsoft and Alphabet, with other high performers of note in the cybersecurity space. Read more

The rally in Russian equities was driven by earnings estimates which were revised 15% higher over the quarter and are now nearly 25% higher than at the start of the year. Read more

At the stock level, Upwork, Rapid7 and Cloudflare were the most significant contributors to the Fund’s outperformance over the quarter. Read more

After a correction in March, we have a positive outlook as stocks are now trading at attractive valuations with economic growth likely to remain robust.  Read more

We are especially positive as the large and mega cap area of the market continues to give considerable scope for further outperformance as the world continues to recover from the Covid-19 pandemic. Read more

Stock selection within banks positive over Q1, driven by holdings in discount bond securities. Read more

Oxford Biomedica among best holdings, buoyed by increased vaccine order from AstraZeneca. Read more

Overweight equities and credit, and underweight gilts and cash positions all positive in Q2. Read more

Holdings such as DocuSign and Paypal continue to perform strongly as the world adapts to changed work conditions. Read more

Familiar names such as DocuSign, PayPal and Equinix back among top performers over second quarter. Read more

Names such as Cellnex, ASML and Roche among our positions, with the latter’s arthritis drug Actemra/RoActemra confirmed as emergency Covid treatment. Read more

Asset allocation remained a positive factor over the quarter, as risk assets continued to deliver returns. Read more

Familiar names such as John Laing Group, on takeover news, LTG and Treatt among top holdings over Q2. Read more

Credit portfolio a key driver over quarter, with core overweights to banks, insurance and telecommunications continuing to generate performance. Read more

Alphabet and IQVIA top performers over quarter, boosted by strong Q1 results. Read more

Recent additions such as Lifco, Nagarro and Zur Rose Group feature among quarter’s top holdings. Read more

Financials including St James’s Place and London Stock Exchange Group among quarter’s top performers. Read more

Credit portfolio outperforms against constructive fundamental and technical backdrop. Read more

Mind Gym shares jump on evidence of improving momentum, but On The Beach drops heavily. Read more

Fund boosted by takeover speculation regarding a couple of its holdings. Read more

Fund boosted by takeover speculation regarding a couple of its holdings. Read more

Avingtrans, CML Microsystems and Mind Gym notch up large gains on positive newsflow. Read more

Next Fifteen Communications rises sharply after an acceleration in growth pushes performance ahead of its expectations. Read more

Next Fifteen Communications rises sharply after an acceleration in growth pushes performance ahead of its expectations. Read more

Growth resurgence weighs on Fund returns. Read more

Growth resurgence weighs on Fund returns. Read more

Growth resurgence weighs on Fund returns. Read more

Carry component and credit selection make incremental gains in absence of any market dislocation to exploit. Read more

Absence of energy issuers a headwind as low quality outperforms, but recent credit picks have fared well. Read more

Fed’s new guidance already priced into yield curve; we expect rate lift off in 2022. Read more

Fed’s new guidance already priced into yield curve; we expect rate lift off in 2022. Read more

Broad bullishness continues at the midpoint of 2021 but with a slightly more hawkish hue to central banks, and still no 5% correction for the S&P 500 this year, John Husselbee suggests we may see some cooling off in the second half. Read more

Positive economic backdrop feeding into corporate updates. Read more

Financial stocks dominate Fund newsflow with updates from Impax AM, Charles Stanley and Mattioli Woods. Read more

Positive economic backdrop feeding into corporate updates. Read more

Future and Coats indicate better than expected full-year results. Read more

Future and Coats indicate better than expected full-year results. Read more

Augean shares leap higher on the back of takeover interest. Read more

Highlights include better-than-expected Q1 results from Danish jeweller Pandora and a bullish update from direct marketing group 4imprint. Read more