reports
- James Carthew
Real Estate Roundup - May 2021
Diversified property companies were the winners in April as progress in the UK’s vaccination programme and roadmap out of lockdown continued unabated. Six of the top 10 best performing companies in price terms were generalist REITs that had been trading on wide discounts. Top of the pile, however, was . The Central and Eastern European office landlord was the subject of a takeover offer by two of its largest shareholders in April. headed the list of generalist property companies with a 19.3% sh...
- James Carthew
Economic & Political Roundup - May 2021
While the past few months have been decidedly positive, April provided a stark reminder of the uphill battle that remains. India, in particular, is suffering terribly with COVID-19. In developed countries, where most of the vulnerable population has now been inoculated, normalcy appears within touching distance and many commentators are expecting consumer spending to return with a vengeance.
- James Carthew
Investment Companies Roundup - May 2021
It was another strong month for commodity funds, which have led the way in market return terms so far this year (see the appendix section for a breakdown of how all the sectors have performed this year). Gold had a strong month, following a relatively subdued few months. UK smaller company funds remained very popular, with the ongoing success of the vaccine rollout emphasised by no apparent ill-effects, to date, from the re-opening measures carried out. Elsewhere, the very unfortunate spiralling...
- Richard Williams
Real Estate Roundup - May 2021
Diversified property companies were the winners in April as progress in the UK’s vaccination programme and roadmap out of lockdown continued unabated. Six of the top 10 best performing companies in price terms were generalist REITs that had been trading on wide discounts. Top of the pile, however, was . The Central and Eastern European office landlord was the subject of a takeover offer by two of its largest shareholders in April. headed the list of generalist property companies with a 19.3% sh...
- Shonil Chande
Economic & Political Roundup - May 2021
While the past few months have been decidedly positive, April provided a stark reminder of the uphill battle that remains. India, in particular, is suffering terribly with COVID-19. In developed countries, where most of the vulnerable population has now been inoculated, normalcy appears within touching distance and many commentators are expecting consumer spending to return with a vengeance.
- Shonil Chande
Investment Companies Roundup - May 2021
It was another strong month for commodity funds, which have led the way in market return terms so far this year (see the appendix section for a breakdown of how all the sectors have performed this year). Gold had a strong month, following a relatively subdued few months. UK smaller company funds remained very popular, with the ongoing success of the vaccine rollout emphasised by no apparent ill-effects, to date, from the re-opening measures carried out. Elsewhere, the very unfortunate spiralling...
- James Carthew
Economic & Political Roundup - April 2021
A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned.
- James Carthew
Investment Companies Roundup - April 2021
It feels as though the rotation from ‘growth’ to ‘value’ that began last November regained some momentum in March. Having been amongst the best performers over 2020, sentiment towards Chinese funds has deteriorated, China appears to be withdrawing stimulus, clamping down on lending and is targeting many of its leading companies with anti-monopoly probes. We note that the Association of Investment Companies (AIC) has made some changes to its sector classifications, headlined by the introduction o...
- James Carthew
Investment Companies Quarterly Review – Q1 2021
It felt as though the rotation from ‘growth’ to ‘value’ that began last November picked up momentum towards the end of the first quarter. UK equity and property assets had a strong start to the year. Some of last year’s winning sectors, like technology, China equity funds, Japan equity funds, and healthcare, largely took a backseat.
- James Carthew
- James Carthew
Real Estate Roundup – April 2021
Drum Income Plus REIT saw its share price rally 75% in March following the announcement that its board was undertaking a strategic review to consider the future of the company, which it said could include “realising the value in the group's property portfolio”. The trust has failed to generate any liquidity in the shares, which have traded at a significant discount to their net asset value since it launched in 2015. Despite the uplift in its share price, the group is still trading at a 28% disco...
- Richard Williams
- Shonil Chande
Investment Companies Quarterly Review - Q1 2021
It felt as though the rotation from ‘growth’ to ‘value’ that began last November picked up momentum towards the end of the first quarter. UK equity and property assets had a strong start to the year. Some of last year’s winning sectors, like technology, China equity funds, Japan equity funds, and healthcare, largely took a backseat.
- Richard Williams
Real Estate Roundup - April 2021
Drum Income Plus REIT saw its share price rally 75% in March following the announcement that its board was undertaking a strategic review to consider the future of the company, which it said could include “realising the value in the group's property portfolio”. The trust has failed to generate any liquidity in the shares, which have traded at a significant discount to their net asset value since it launched in 2015. Despite the uplift in its share price, the group is still trading at a 28% disco...
- Shonil Chande
Economic & Political Roundup - April 2021
Small-cap stocks in the UK and US, which tend to be more closely aligned with domestic economies, had another good month. Many other countries, including most of Continental Europe, have not been as fortunate with their vaccine programmes to-date. There were further increases in US 10-year government yields, and a strengthening dollar contributed to a softening in the emerging markets rally.
- Shonil Chande
Investment Companies Roundup - April 2021
It feels as though the rotation from ‘growth’ to ‘value’ that began last November regained some momentum in March. Having been amongst the best performers over 2020, sentiment towards Chinese funds has deteriorated, China appears to be withdrawing stimulus, clamping down on lending and is targeting many of its leading companies with anti-monopoly probes. We note that the Association of Investment Companies (AIC) has made some changes to its sector classifications, headlined by the introduction o...
- James Carthew
Economic & Political Roundup - March 2021
The sharp increase in long-term government bond yields (as bond prices fell, given that they move inversely with yields) over February reflects a growing likelihood of inflation’s influence returning, after a benign decade or-so. Sterling and the oil price continued to strengthen too.
- James Carthew
Investment Companies Roundup - March 2021
On balance, it was a good month for investment companies, February’s median total share price return was 0.7% (the average was 1.1%) which compares with a fall of 0.2% in January. Rising long-term interest rates coupled with fears of inflation have dented the valuations of high-growth stocks. February saw technology-focused companies sell-off, for example. Gold, which ought to be an inflation hedge, seems to have been hit by rising rates (gold is hampered by not generating an income). UK assets ...
- James Carthew
Real Estate Roundup - March 2021
Performance - The roadmap out of lockdown and the impressive vaccination programme in the UK has lifted confidence in a swift economic recovery and triggered a shift to value stocks. Property companies on significant discounts saw a bounce in their share price in February. Top of the pile, though, was RDI REIT that was the subject of a cash offer from its largest shareholder Starwood Capital, valuing the company at £467.9m. Valuation moves - Net asset value grew as property portfolios started t...
- James Carthew
Economic & Political Roundup - March 2021
The sharp increase in long-term government bond yields (as bond prices fell, given that they move inversely with yields) over February reflects a growing likelihood of inflation’s influence returning, after a benign decade or-so. Sterling and the oil price continued to strengthen too.
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.