William Hobbs, Head of Investment Strategy, UK and Europe, talks to Rupert Howard, Senior Portfolio Manager, about recent portfolio performance and what we can expect from 2016.
After a few months of extreme volatility, markets appear to have stabilised. Rupert believes that a combination of equity market performance and currency effects – the dollar has been a strong performer – have helped portfolios to add value over the month and recover strongly since the August lows.
Despite the drumbeat of monetary policy normalisation in the US getting louder, Rupert remains comfortable with current portfolio positioning. Rupert has adopted a consistent approach throughout the year, focusing on the positive stories coming out of the US and Europe, while remaining cautious around the emerging markets and the fixed income complex as uncertainty remains over the course of interest rates going into the new year.