After the Storm

A kind of calm has returned to global stockmarkets after the August sell-off, triggered by fears about the Chinese economy and its impact on global growth. In the last few weeks I have had time to selectively digest the many commentaries from fund managers. There is a wide spread view the crash was overdone, no surprise there, but nonetheless there …

The Importance of Valuations and Value Investing

You could not have failed to notice that the FTSE 100 index has pushed past its previous all-time high of 6,930 in December 1999. As I write this morning it is trading at 6,952 up on the back of news that the date of US interest rate rises is likely to be pushed back. With equities doing well investors may …

The Impact of Investment Styles on Fund Performance

It is fairly well known that many fund managers adopt specific investment styles in running their portfolios. These are the underlying investment principles and strategies a fund manager favours and this in turn determines their asset and sector allocations and the type of stocks they buy. Whilst the main styles are often described as “value” or “growth,” there are variants, …