Investment accounts

Authorised and regulated by the UK’s FCA to provide investment accounts, we are bound by CASS rules to segregate and protect client assets.

December 2019 investment update

November was another positive month for global equity markets, writes our Head of Investment Management, Simon Black. Our December monthly investment update is now available to download and view online.

China leading the world in 5G

The race is on to connect people and things to 5G. For the moment, China is winning. But what makes 5G so important – and why is the US worried about Beijing’s head start? Jay Williams, Dolfin’s Head of China Desk, reports

Dolfin celebrates the best of 2019

During Advent 2019, we are celebrating a year spent uncovering the people, ideas and technologies shaping your investment landscape.

September 2018 investment update

Georgios Mouskoundi, Head of Advisory, introduces our investment update for September. The document contains an overview of our views on the various asset classes, as well as a range of high conviction investment ideas in equities and fixed income.

Download Report pdf, 526 KB
17 September 2018 / Monthly investment updates

August has traditionally been a difficult month often characterised by a summer lull as investors and fund managers seek warmer climates. Whilst this year proved to be no exception – with record temperatures and stock market moves – there is a clear dichotomy between sentiment and fundamentals with views changing at the slightest news flow.

The post–financial crisis bull market recently became the longest in history and the S&P 500 continues to reach new all-time highs. Even in this backdrop, it is interesting that these gains have been made in spite of a difficult economic and political environment over the past decade. More recently, the prospect of trade wars, a surging US dollar, rising interest rates and the withdrawal of stimulus by central banks has failed so far to derail the bull, at least in the US.

We continue to bear in mind that, as share prices rise, valuations become stretched. It is important to justify current high valuations by having a strong global economic growth environment to boost company earnings.

The problem is that the backdrop is actually one where the economic cycle growth rate has probably peaked, we have trade disputes and we have monetary tightening in the form of central bank stimulus being removed or interest rates being raised. It’s far from the perfect mix of conditions although it does provide opportunities in a diverse portfolio.

Turning to asset class views, we remain negative on rates with a bias towards Europe and expect US rates to remain at current levels. In credit we continue to prefer high yield over investment grade targeting quality issues and short duration in anticipation of interest rate moves. Equites continue to provide interesting debate, but at this juncture we remain neutral to positive with a tilt developing towards European markets with attractive valuations and cognisant that the US market has performed well year to date.

We expect global growth to remain resilient, but we see evidence of the recovery being less synchronised. Earnings growth should remain positive and inflation will likely cause gradual interest rate rises.

Investment accounts

Dolfin’s investment accounts safeguard securities and cash, while ensuring you or your clients can take full advantage of multi-asset, multi-currency, and multi-strategy investments.

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About us

Founded as a London-based wealth boutique in 2013, today we’re a diversified financial services firm with an international presence and our own bespoke technology platform.

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