Rathbone Funds

Rathbone Unit Trust Management (“Rathbones”) announces that fund manager Noelle Cazalis will leave the business to pursue other interests outside the UK. Fixed Income fund manager Stuart Chilvers will assume lead fund manager responsibilities for the Rathbone High Quality Bond Fund with immediate effect and with no change to the investment process or objective of the fund. 

Strong gains for Europe’s banks last week were reversed by Friday’s close. With the fear bug spreading, can we be confident it won’t strike again?

Banks are very powerful, but very fragile. That’s because they are dependent on people and their ability to believe.

Trying to unpick the turmoil in the banking sector, the team discuss what happened in the last week or so and what it means for the future, and explain what action they’ve taken as a result. Their gaze then shifts to our fair shores as they ask whether, after a few years in the investment wilderness, the UK could be on the precipice of some structural changes that might support the economy and perhaps the equity market too.

When banks fail they do so suddenly and the shock can create panic that spreads trouble to other lenders. That’s why US regulators have stepped in swiftly and unambiguously.

UK central bankers fall into an age-old parenting trap while talking to investors. Also, we look at the differences between official statistics and new ‘real-time’ series.

A new deal for the Northern Irish border is imminent, bringing hope of greater clarity on Brexit for the UK. Meanwhile, the outlook for global inflation only gets foggier.

The war in Ukraine has caused misery in Eastern Europe, upended global trade and sharpened world politics. An era of cheap hydrocarbons is now behind us, and further energy shocks could be on the horizon.

Could David’s usual prediction of US stocks beating European ones come a cropper this year? The team also explain why US real estate investment trusts are a different ball game for them vs the UK market, and where there are some exciting opportunities. Finally, the team turn a loving, Valentine’s Day gaze towards European luxury goods giant LVMH and discuss just why the company’s resilient earnings are perhaps worth paying a pretty penny for.

After years of upheaval, huge stimulus and changing habits from work to play, the paths of economic growth and inflation disappear into a fog as thick as a February morning. That’s why we’re still cautious about 2023.

Markets were fanned higher by US monetary policy before getting driven backwards by contradictory economic winds. Uncertainty still reigns supreme.