Disclaimer
This is not substantive investment research or a research recommendation, as it does not constitute substantive research or analysis. This material should be considered as general market commentary.
It’s been a good year for investors so far, certainly for those who were willing to invest in equities despite the cloudy outlook. Thinking back to the end of 2023, there was plenty of trepidation about the health of the major economies and whether we were about to see a severe recession caused by the delayed impact of rate hikes. High cash rates saw big inflows into money market funds in December and January, according to IA statistics, in flagrant contravention of our warnings that the outlook for equities was better than for cash. But those who increased their equity exposure will generally have done better. It is therefore nice to report that our team picks for 2024 are a sea of green, although there is a wide spread of absolute and relative returns. Each year we ask our team members to pick a trust to do well in share price terms over the coming year, and the table below shows how this year’s selections have done. If there is a general trend we could pick out, it might be that larger companies have generally done better than smaller ones, although the top performer in the list contravenes this rule. You can read the original reasons for the picks here, but below our analysts review how their trust has done so far and how they rate its prospects for the rest of the year.
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