Additional resources for advisers
The latest series of ‘In conversation’ has landed. A lot has happened since our last fund updates: find out how our fund managers have been positioning their funds, navigating challenges and seeking out opportunities.
Much has happened since our last series. COVID-19 threw us another curveball with Omicron spreading fast. This aggravated existing supply chain and employment issues, fuelling inflation and political instability. Central bankers are under pressure to tighten monetary policy earlier than expected. So, what does this all mean for investor sentiment?
Much has happened since our last series. The world is largely open again, though the highly contagious delta variant and supply chain disruptions mean life is far from ‘back to normal’.
Much has happened since the last time they spoke to you. Lockdown 2.0; Lockdown 3.0; a post-Brexit trade deal with the EU; Joe Biden became president; and the beginning of a global vaccination drive.
Now in its second iteration, our In conversation series is beaming from the homes of our managers for the first – and likely not the last – time. They have provided the latest fund performance, portfolio positioning and their views on the future.
Introducing the, “In conversation” series, you’ll have the opportunity to hear and now see our fund managers provide their expert view in a short, engaging and digestible format. We aim to run these updates twice a year.
Listen to Greg Mullins, Head of Sales, introduce the series in a short soundbite of what you can expect now and in the coming months ahead.
Bryn Jones, lead fund manager of the Rathbone Ethical Bond Fund, reveals why 2019 was a great year for performance, and the key themes he’s keeping an eye on in 2020.
James Thomson, who has managed the Rathbone Global Opportunities Fund for over 15 years, deep dives into another successful year which saw the fund outperform the sector, with a first quartile positioning.
Carl Stick, executive director, stands in for fund manager David Harrison to discuss one of the hottest topics of the moment - ESG (Enviromental, Social and Governance). The Rathbone Global Sustainability fund has performed well throughout 2019. Carl looks at how 2020 is likely to shape up.
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What are the lessons learned from 2022 and what can we expect to come in the months ahead and into 2023? Listen to Rathbone Funds Chief Investment Officer Tom Carroll and panellists discuss.
With interest rates and bond yields on the way up, what does it mean for asset allocators and the expected risks and returns from the world's various markets? Listen to David Coombs discuss this and much more.
There's plenty of gloom and doom in the markets but what does that mean if you are invested in multi-asset funds? Have they got the flexibility and the know-how to avoid the downsides and risks, but still give exposure to the rewards? Listen to David Coombs and panellists discuss this and much more.
What are the current movements in the UK equity market and how are fund managers positioning their portfolios accordingly? Listen to Alexandra Jackson and panel members discuss.
The Rathbone Ethical Bond Fund passed its 20 year anniversary in May; listen to our head of fixed income and lead manager on the fund, Bryn Jones, fund manager Noelle Cazalis and head of ethical sustainable and impact research at Rathbone Greenbank Investments Kate Elliot, discuss the role of fixed income and ethical investments in a client portfolio. Taking a look at the past 20 years in the sector and how they have put this wealth of experience to work, pathing the way for the next 20, whilst exploring themes and trends they believe lie ahead.
UK inflation is now above 6% and rate rises appear imminent. What does this mean for your clients fixed income and capital? Bryn Jones, our head of fixed income, joins the panel to discuss, addressing the following within the debate:
- What fund managers are doing to mitigate the impact of inflation on fixed income
- The impact of rising interest rates on an already leveraged financial system
- The implications of running loose monetary and fiscal policy at the same time
COVID and inflation are two unwelcome guests who have returned to Western economies and markets, so what does this mean for multi-asset portfolios? Will McIntosh-Whyte is on panel to discuss: How multi-asset managers are looking to counter the effects of inflation on investor returns. The challenge sustainability regulation is creating for multi-asset funds. The growing influence of China on global financial markets.
As we enter the last part of the year, we take a look at the outlook for fixed income. Bryn Jones is on panel to discuss some of the latest updates in this sector. How great a threat inflation poses to fixed income investors today; how bond managers are looking to identify long term corporate cashflows in the wake of COVID; and the growing role of sustainability in running fixed income portfolios, plus more.
2020 was a year of incredible stress in markets, so how did multi-asset investing perform and is it fit for purpose in 2021? How are multi-asset managers using alternatives and what is the role of fixed income at a time of rising yields? Listen to David Coombs and panellists discuss this and much more.
2020 has been an unprecedented year with the coronavirus pandemic and the US election, so what does it all mean for multi-asset? And what will global growth and the recovery look like? David Coombs and panel members discuss.
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The team kick off 2023 discussing the outlook for the year ahead: what stays the same, what changes, and why it’s important not to overreact simply because there’s a new calendar adorning our desks. They also discuss whether consumers trading down in household staples will mean less-resilient revenues, and why they think global skincare and cosmetics giant Estee Lauder presents a different story to its peers.
Join the whole Sharpe End team for the Christmas special edition where Craig, Rahab, and Will hold David to account for his predictions for 2022. Just how well did David call the fortunes of the UK economy? How accurate were his views on speculative technology and cryptocurrency? And, importantly, did he beat last year’s score of 4.5 points!?
With all the shenanigans since our last episode, is the UK now a relative beacon of political stability? If so, does that move the dial for the prices of British assets? The team explain why capital discipline and the resiliency of ad revenue are the order of the day for them given recent weaker earnings from the US tech giants. Finally, do political shifts in China change the long-term picture for investing in the country?
The team ponder whether, after the not-so-mini reaction to the Chancellor’s ‘mini-budget’, it’s finally time to buy UK bonds again or whether US Treasuries still look a better place for capital, and explain how they are tackling currency exposure in the face of a continually volatile pound. Also, what does the return to a world of higher costs of capital and risk-free rates mean for markets, and how should it change how we invest?
Fund Manager Will McIntosh-Whyte, Rathbone Multi-Asset Portfolios and Rathbone Greenbank Multi-Asset portfolios, will give an update on the funds and discuss some of the topics that are front of mind.
Have US Fed Chair Jerome Powell’s comments at Jackson Hole spooked the team as much as they spooked the market? This month, David, Will, and Craig also discuss how much attention to pay to the weakening US housing market, and finally touch on the video game industry and how it should remain an exciting place to invest for many years to come.
We may have (finally) reached peak inflation, argue David, Will and Rahab this month. Also, they explain how the Tory leadership campaign made them reassess the benefits and pitfalls of deregulation, and why they think water is an exciting investment theme for their portfolios.
This month, David, Will and Craig discuss the wide-ranging impacts of the energy market’s current stresses and complexities. Also, despite some expected post-pandemic catch-up in consumer services spending, the team aren’t tempted by many businesses that have benefited. Finally, they discuss the departure of Prime Minister Boris Johnson in real time and what it might mean for fiscal policy and the UK economy.
In the final webcast before the summer holiday season, David Coombs, head of multi-asset investments and Will McIntosh-Whyte, fund manager, will be providing a multi-asset team update covering:
- Is recession in the US now a foregone conclusion?
- Will the US Federal Reserve need to cut rates in 2023?
- Are cyclicals a help or hindrance in the current inflationary environment?
- Are consumer staples the best form of defence in a slowing economy?
- How the team are approaching managing the portfolios in this volatile market.
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Low expectations, even lower valuations
Britain has suffered through an omnicrisis for almost six months and recession looms on the horizon. And yet UK markets have been a bright spot, notes Rathbone Income Fund co-manager Alan Dobbie. What’s going on?
From ‘TINA’ to ‘TANIA’…
Head of fixed income Bryn Jones explains why even the most tenacious equity bulls are starting to acknowledge that the era of ‘there is no alternative’ to stocks is finally done.
Run, Rabbit, Run
Ahead of the largest annual human migration in the world, China has opened the floodgates to economic growth and COVID-19. Multi-asset fund manager Will McIntosh-Whyte hopes the Lunar New Year is a happy and prosperous one, for the Chinese and for the world.
2023: The year ahead. Maybe?
After a pretty questionable effort at predicting 2022, our head of multi-asset investments, David Coombs, dusts himself off and leaps into 2023.
Great Expectations?
Multi-asset fund manager Will McIntosh-Whyte channels his inner Scrooge as he confronts Christmases Past and Present. Can they provide investors with helpful insights about what’s to come?
Keeping warm without overheating the planet?
Old buildings that fail to keep in heat aren’t just expensive for their residents. They’re also costly for the climate. Head of Equities Sanjiv Tumkur examines some of the innovations seeking to address this challenge.
Bonds and (investment) goals
As head of fixed income Bryn Jones remembers his favourite World Cup, he asks whether investors might want to think about revisiting their bond allocations as they try to meet their investment goals.
The Naked Coin
The implosion of one the largest crypto exchanges will be a massive shock to many holders of digital assets. Head of multi-asset investments David Coombs remembers a reality check of his own from 10 years ago.
Can ‘quality’ stocks deliver recession resilience at a reasonable price?
Slowing economic growth, high inflation and rising interest rates are weighing heavily on global equity markets. Favouring different equity ‘styles’ is one way to try to protect portfolios. Head of equities Sanjiv Tumkur explains that stocks with strong ‘quality’ characteristics tend to outperform in economic slowdowns. So what defines a ‘quality’ company?