Authorised and regulated by the UK’s FCA to provide investment accounts, we are bound by CASS rules to segregate and protect client assets.
Until we begin to know what the future looks like for UK-EU relations, we are resisting the natural human urge to speculate and guess. Because we are unable to know if the eventual outcome of this highly fraught process, we cannot say with any certainty whether it will be good, bad or neutral for the UK.
Within fixed income we express this uncertainty via a conservative positioning with regards to the yield curve (i.e. short-duration), rates and FX.
We remain neutral on UK equities with a preference for defensive names.
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