Disclosure – Non-substantive Research
This is not substantive investment research or a research recommendation, as it does not constitute substantive research or analysis. With this commentary, Kepler Partners LLP does not intend to influence your investment firm's behaviour.
It is almost three years after the UK voted to leave the EU. It seems like it might possibly happen, although we wouldn’t want to make any more precise predictions than that. The political picture still remains cloudy, and it would be a brave investor who made a decision based on his reading of the tea leaves. However, the ending of the article 50 period is a good moment to take stock and get a clearer picture of what has actually happened to the UK market since June 2016. Amidst the noise and the, at times, panic, the UK and global markets have actually made strong gains, although the UK has lagged. Valuations suggest there could be an opportunity here. We consider where the opportunity could be the most exciting below and look at some trusts placed to benefit from any reduction in the Brexit discount, whenever that eventually comes.
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