Rising inflation, rising interest rates, weak supply chains, rising energy prices and the dreadful situation in Ukraine have created a near perfect storm for markets.
These factors, combined with a savage rotation within investment styles have led to one of the toughest market backdrops for a long time. Q1 2022 witnessed significant divergence in equity market performance: UK equities were up slightly by 0.5%; UK smaller companies were down 11.4%; Europe was down 7.4%. Fixed income provided little protection with UK government bonds and sterling corporate bonds down 7.2% and 6.6% respectively. This divergence was also evident in styles. Global growth was down 7%, while global value was up 2%. In the IA Global sector, there was a 44.1% differenc...
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