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.

With protectionist measures on the increase globally, we discuss some of the opportunities and risks for investors.

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

We look at recent academic work that underpins the effectiveness of global equity-income investing

Why equity-income investing has underperformed recently, and why we believe the outlook is more positive.

Will inflation finally re-emerge in a post-pandemic recovery, and how can a balanced portfolio prepare for it?

As policy intervention ratchets up to new levels in response to Covid-19, what are the implications for investors?

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

A focus on two more of our primary investment themes: ‘state intervention’ and ‘healthy demand’.

Investors should be mindful of structural challenges posed to income generation as a result of rapid thematic change.

We discuss the outlook for UK equities.

We discuss the outlook for the precious metal.

Could the US election outcome and hopes of an imminent Covid-19 vaccine keep markets trending upwards?

The importance of thematic investing: Part one

We assess the implications of Joe Biden’s US presidential election victory.

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

Why we believe the post-pandemic economy will take some time to get back to pre-crisis levels.

We provide our macro outlook for the second half of 2020.

Equity markets appeared at times to be detached from reality as they rebounded strongly during the second quarter.