Alexander Darwall: 'Severe and prolonged recession'

Matthew Dobbs taking over as chair

Alexander Darwall, manager of the European Opportunities trust, highlighted a number of challenges facing global markets today which he says are “the ingredients for a severe and prolonged recession”.

In the full-year results for his £680m European Opportunities trust, released this morning, which also revealed that former veteran manager Matthew Dobbs would be taking over as chair of the trust's board at the new AGM, Darwall reminded investors of his previous warnings. In past reports, he said the ultra-benign conditions associated with the Covid-19 era could not last and that at some point "reality would bite, and businesses would be challenged by the enormity of inflation, debt repayments and weaker demand". Cost-of-living crisis forces almost half of investors to cash in their ...