24.01 Liontrust Views Winter 2024 - Flipbook - Page 3
WELCOME
Welcome to the winter edition of Liontrust
Views. Global equity markets ended 2023
on a relative high, with several gaining
double digit returns over the year. Even the
year’s poorer performers, including the UK,
Asia Pacific and emerging markets, were in
positive territory. Global markets generally
were boosted towards the end of 2023 by
increasing expectations that interest rates
would be cut this year as data showed
inflation appeared to be ebbing.
the companies leading the way in these new
advancements enjoyed substantial growth in
valuations. In our cover story on pages 8 and
9, we ask if we are at the start of a new tech
cycle and who the winners might be from this?
Overall, the underlying tone of markets
has stabilised. While fears of a recession
persist, a mild downturn seems more likely
in 2024 than a deep one because central
banks will strive to avoid it, and the global
economy remains on a solid footing.
Japan has returned to favour for many
investors after three decades of being in an
economic slump. On pages 10 and 11, we
analyse the opportunities presented by the
Japanese stock market that have been partly
driven by sweeping changes to corporate
governance and moves by the government
to make it more investor friendly.
This edition of Liontrust Views features our
regular articles that review market events in
recent months, the factors driving them and
our thoughts on the future. We also explain
changes in our views on the different
markets and asset classes.
Last year was dominated by technology –
from AI to cloud computing – and many of
On pages 12 and 13, we look at how
equities and bonds can generate an income
from an investment portfolio following the
rapid rise in interest rates and their potential
reduction this year.
Finally, our performance overview provides
the vital statistics you need to see how your
funds have performed.
We hope that you enjoy reading this edition
of Liontrust Views and, as always, we
welcome your feedback.
LIONTRUST VIEWS – WINTER
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