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NEWS
Team
LATEST NEWS
REAL ASSETS & HOW THEY ADD VALUE
In his book Pioneering Portfolio Management, the former CIO of the Yale endowment, David Swensen, helped popularise the idea that long-term portfolios should extend beyond traditional stocks and bonds to include assets linked to the real economy and alternative assets such as hedge funds. First published in 2000, the book drew on lessons from investing across a range of market environments, including periods of elevated inflation.
CAPITAL GAINS TAX – A CHANGED LANDSCAPE
For most of the past two decades, Capital Gains Tax (CGT) has been a relatively peripheral concern for the majority of investors. The annual exempt amount – the amount of gains you can realise each year free of tax – was generous enough that many clients could rebalance portfolios, fund ISA contributions, and take profits without a CGT liability arising at all. That position has changed significantly.
NAVIGATING THE FOG OF WAR
The Strait of Hormuz is the world’s most critical oil chokepoint. Roughly one-fifth of global oil supply transits here each day. Commercial traffic has been severely disrupted since late February. Iran maintains a stranglehold on the Strait of Hormuz – the narrow waterway through which roughly a fifth of the world’s oil transits during peacetime. As long as that remains the status quo, analysts expect oil and stock markets to experience continued heightened volatility.
MIDDLE EAST ESCALATION: EARLY MARKET IMPACT & PORTFOLIO IMPLICATIONS
Following the weekend escalation involving US – Israeli strikes on Iran and Iran’s subsequent response, markets have – so far – reacted in a relatively orderly way. The immediate transmission mechanism is energy, because the Strait of Hormuz is a critical chokepoint for global oil and gas flows.