12 October 2018
By Sheldon Macdonald, Co-Fund Manager HC Verbatim Multi-Index Funds
It was an up and down month for the UK equity market, which continues to be beset by uncertainty around Brexit negotiations. As a result of this uncertainty, the value of sterling fluctuated in September. This had a knock on effect on equities, which although also saw some highs and lows ended the month relatively flat.
The trade war initiated by President Trump is still being waged without any further surprises. The implementation of the previously announced tariffs by the US and the retaliation by China was largely expected so did not really move equity markets. Perhaps as a result of no further surprises we have started to see a recovery in emerging markets, which are badly affected by worsening trade relations.
Japan is one market that has begun to outperform alongside the US following positive retail sales and economic growth figures.
The value of investments and any income from them can go down as well as up and is not guaranteed. Your clients could get back less than they originally invested. Past performance is not a guide to future performance. The portfolios' investments are subject to normal fluctuations and other risks inherent when investing in securities. Verbatim Asset Management has taken due care and attention in preparing this document, which is solely for the use of professional advisers. Verbatim cannot be held responsible for any inaccuracies arising out of information detailed within and will not accept liability for any loss arising out of or in connection with its use.