Prices and Markets

Did you know that, if done right, network marketing has the potential to be one of the most powerful marketing business models? Network marketing is officially defined as a business model that depends on person-to-person sales by independent representatives, (often working from home). Also known as affiliate marketing or consumer direct marketing, the appeal behind it is that an individual with a lot of energy and good sales skills can create a profitable business with a modest investment. And if...

Read full report Seneca Global Income & Growth Trust’s (SIGT’s) manager, Seneca Investment Managers (Seneca IM), has continued to reduce the trust’s equity weighting, in advance of a global recession it expects in late 2020/ early 2021. Consistent with its view, the yield curve has all but inverted (as at 22 March, the gap between three-month and 10-year US treasury bonds was just 3 basis points) and the manager says that in the past, on average, an economic recession has...

Jupiter Emerging & Frontier Income (JEFI) has outperformed the average of competing listed emerging markets funds since launch (see page 14). In 2018, JEFI’s exposure to smaller and medium-sized companies and frontier markets acted as a drag on performance, relative to the MSCI Emerging Markets Index (the index that JEFI uses as a performance comparator).... Read more With US interest rate rises no longer on the table for 2019, investors’ interest in emerging and frontier markets may be rekindled. JEFI’s...

Through the first quarter of 2019, global equities largely clawed back the losses suffered over the final weeks of 2018. How much longer this ten-year bull market can sustain itself is the subject of much debate. US interest rate rises have stalled, reflecting growing cautiousness. Elsewhere, many of the headwinds that ruffled markets late last year, including the US/China trade negotiations, continue to lurk in the background. The UK remains in gridlock, with no sign of a resolution to Brexit......

Year-to-date, Ecofin Global Utilities and Infrastructure Trust (EGL)’s manager, Jean-Hugues de Lamaze, has avoided the fall-out from the bankruptcy of Californian utility Pacific Gas & Electric (see page 4), and the trust’s NAV performance has been strong (a total return of 10.9% to the end of March 2019), outperforming both the MSCI World Utilities and S&P Global Infrastructure Indices... Read more Despite this, EGL has been trading at the wider end of its discount range (it reached a 12-month high...

A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Read more on our website Roundup March was a better month for markets, with each of the indices in the adjacent chart rising by at least 2%....

April 2019 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of March 2019. Kindly sponsored by Baillie Gifford. QuotedData’s investment companies roundup – April 2019 JPMorgan Indian, India Capital Growth, Aberdeen New India and Ashoka India Equity Investment benefitted from a surge in foreign capital into Indian equities in March, as they had their best month in three years. A...

Henderson Diversified Income Trust – Death rattle for bull market After a serious wobble in the last few months of 2018, the resurgence in markets that we have seen in 2019 may be the death-rattle of what is now a 10-year bull market. The managers of Henderson Diversified Income (HDIV) have been warning that markets are heading for falls as the economic cycle turns, and that we are likely to slip back into a prolonged period of low-no growth and low-to-no...

With a cloud hanging over emerging markets, and adverse sentiment overriding strong micro-economic fundamentals, Premier Global Infrastructure Trust (PGIT) had a testing 2018. However, it has made an excellent start in 2019. Premier Global Infrastructure Trust – Quick out of the blocks in 2019 In the first two months of the year, aided by the gearing provided by its zero dividend preference shares, PGIT has made 20.6% in NAV total return terms and 20.1% in share price total return terms. The MSCI World Utilities Index returned 3.1%. Earnings growth for...