'UK investors must look at what they own'

UK equities continue to be buffeted by the Brexit debate, with this coming on top of a global risk-off trade sparked by rising rates in the US, the US-China trade war and other idiosyncratic events.

For investors in the UK it means greater discernment is now needed and we have been becoming more defensive in the second half of the year, and expect to remain positioned as such in the near term. For quite some time we have expected to see periods of heightened volatility or sharp sell-offs in equities, as the global liquidity tap starts to get turned off. Other factors are not helping, nor are mixed messages from the current earnings season and mixed economic data. Two years on from the Brexit referendum, how has the UKeconomy fared? Brexit remains the key challenge and it has w...