23.08 Liontrust Views Summer 2023 Literature (Single) - Flipbook - Page 3
WELCOME
Welcome to the summer 2023 edition
of Liontrust Views, a guide to how your
investments have performed and what
market developments mean for them.
The second quarter of 2023 has proved
more stable than the first, which is welcome
news for investors. While inflation continues
to be a challenge, the latest Bank of England
figures revealed a small but long-awaited
fall and came amid hopes that inflation
is finally moving in the right direction.
However, there are clear signs that further
central bank rate rises are likely to be
needed to tackle inflation globally and this
is tempering positive consumer sentiment.
In this edition, we have several regular
features, including our opening article
on pages 4–5 that describes the market
backdrop over recent months and looks at
what is driving it. We cover our latest fund
positioning and asset allocation changes
and explain the rationale behind these.
The portfolio positioning piece on pages
6–7 looks at how market sentiment is on a
tightrope due to persistent inflation, although
a closer look shows the economic outlook is
‘not so bad’. It also discusses the need for
investors to take a longer-term view towards
financial markets rather than reacting to the
latest data or news angle.
On pages 10–11, we look at whether it
is time to ‘go back to British’ after years
of sluggish market performance and dire
investor sentiment, citing the opportunities
available in unloved markets.
Meanwhile, the importance of building a
diversified portfolio is the main topic on
pages 12–13, with investors urged to resist
putting all their eggs in one basket and
being too tempted by the recent uptick in
cash savings rates.
The vital statistics about the performance of
Liontrust’s funds can be found in the Facts
and Figures on pages 14 to 25.
We hope you enjoy reading this edition of
Liontrust Views and we would welcome any
feedback you may have.
LIONTRUST VIEWS – SUMMER
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