Inflationary pressures and China-related concerns dented an improving picture during the third quarter.

Navigating the new tech cold war: unearthing long-term growth from the US/China tech race.

Seeking out structural growth opportunities against an evolving backdrop.

Optimism and recovery dominated investor sentiment during a quarter in which the inflation debate remained centre stage.

Government-bond investors experienced a brutal three months as worries over the outlook for inflation continued to grow.

While Covid-19 meant that new-year fireworks celebrations were scaled back, markets saw some pyrotechnics during 2020’s final quarter.

For much of the quarter, financial markets also appeared to have returned to business as usual.