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Your Investment Update – Q1 2021
Welcome MARTYN SURGUY Chief Investment Officer
2020 was one of the strangest and most remarkable years in modern economic, social and financial history. It began with the most disruptive virus in a century. We saw a sudden stop to the global economy, followed by the largest bouts of stimulus ever. Our ways of living changed abruptly, with political and social strains pushed towards breaking point. It’s not yet clear which of the changes will be permanent and which will fade into memory.
Who knew in January what would happen in the next 11 months? Owning a sensible spread of holdings, combined with the cushion provided by a judicious selection of alternative investments, enabled our portfolios to cope well. Matthew Yeates talks through the reasons why we’re holding alternatives in many of our portfolios later on.
Our team’s challenge throughout the year was to put many of these social and political issues aside and concentrate on the investment opportunities and risks that we faced. As ever, our fundamental investment beliefs and core principles helped us to do that.
Of course, market conditions evolved as the year progressed, so being nimble along the way was also important. Better news emerged in the spring as central banks came to the rescue by delivering synchronised stimulus packages that were faster and larger than ever before – the global economy would not be allowed to slide into depression.
