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Commentary

US election commentary - clean sweep for Trump and the Republicans

Gill Lakin, Brompton’s chief investment officer, analyses the consequences of Donal Trump’s presidential victory. Trump’s in-tray includes the threat to America’s debt rating from burgeoning government borrowing and his promise to revive manufacturing through higher import tariffs. This may stoke inflation at a time when US stocks look vulnerable to possible tech sector earnings disappointments.

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Commentary

Quarterly review for the third quarter of 2024

Global equities and global bonds rose 0.57% and 0.82% respectively in sterling over the third quarter of 2024 as leading western central banks cut interest rates. Federal Reserve easing weakened the dollar, which fell 5.76% against the pound. This contributed to outperformance by equities in Asia excluding Japan and emerging markets, up 4.18% and 2.61% respectively in sterling.

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Quarterly

Quarterly review for the second quarter of 2024

Global equities rose 2.94% in sterling over the second quarter of 2024 while global bonds fell 1.17% as ination fell towards the major central banks’ 2% targets although elevated service-sector price rises may slow the pace of interest rate cuts. The UK’s Labour Party won a landslide election victory while India’s prime minister, Narendra Modi, won a third term albeit propped up by coalition partners. In France, however, a hung parliament generated political uncertainty.

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Commentary

UK election commentary: What Labour’s landslide means for investors

Gill Lakin, Brompton’s chief investment officer, analyses the consequences of Labour’s landslide victory. Rachel Reeves, the incoming chancellor, says she is committed to economic stability and a new “fiscal lock” but Brompton’s investment team will watch closely for signs of a more radical policy agenda that may affect UK assets.

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Quarterly

Quarterly review for the first quarter of 2024

The Federal Reserve, Bank of England (BoE) and European Central Bank (ECB) kept their policy interest rates on hold during the first quarter of 2024, aiming to ensure that inflation returned sustainably to their 2% targets over the medium term.

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Quarterly

Quarterly review for the fourth quarter of 2023

Global equities rose 6.42% in sterling over the final quarter of 2023, taking their rise to 15.88% for the year. Markets finished the year in buoyant mood as investors became increasingly confident that interest rates had reached their peak for this monetary tightening cycle. Some leading indicators imply an economic slowdown is coming in 2024. A soft, as opposed to a hard, landing may, however, lie ahead.

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Commentary

Financial markets in 2023: climbing the “wall of worry”

Gill Lakin, Brompton’s chief investment officer, reviews last year’s winners and losers as economies performed better than feared and inflation fell further than predicted and outlines her views on prospects for 2024.

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Quarterly

Quarterly review for the third quarter of 2023

Inflation has fallen from recent highs and central banks have paused their interest rate hikes for now. Investors, however, ended the quarter concerned that rates might have to stay higher for longer to reduce inflation to the leading central banks’ 2% targets. Global equities and global bonds rose 0.73% and 0.43% respectively in sterling over the quarter but the returns would have been negative but for sterling’s weakness against other major currencies.

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Quarterly

Quarterly review for the second quarter of 2023

Global equities rose 3.43% in sterling over the second quarter of 2023, with overseas returns muted by the strength of the pound, which rose 2.82% against the dollar. Equities rose because falling US and eurozone inflation suggested the cyclical rise in interest rates was close to peaking.

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Quarterly

Quarterly review for the first quarter of 2023

5%Global economic prospects improved in January and February because of a rebound in China’s economy following the end of its zero-Covid-19 policy in December 2022 and stronger-than-anticipated demand in the US and eurozone. Over the quarter as a whole, global equities and global bonds rose 4.53% and 0.21% respectively in sterling.

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Video

Bank failures: Lehman revisited or buying opportunity?

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Commentary

Bank failures: Lehman revisited or buying opportunity?

The forced takeover of Credit Suisse by UBS over the weekend for CHF3 billion, down from a CHF116 billion peak valuation in 2007, put financial markets on newspaper front pages and brought back memories of the 2007-08 global financial crisis.

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Quarterly

Quarterly review for the fourth quarter of 2022

The Federal Reserve, European Central Bank (ECB) and Bank of England all tightened monetary policy on two occasions over the final quarter of 2022, with one rise in their official interest rates of three quarters of a percentage point followed by an increase of half a point.

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Quarterly

Quarterly review for the third quarter of 2022

Global equities and global bonds fell 6.71% and 6.94% respectively in dollar terms over the quarter. They did, however, rise 1.49% and 1.24% respectively in sterling as a result of the pound’s 8.08% fall against the dollar, a fall that took its decline to 17.58% since New Year.

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Quarterly

Quarterly review for the second quarter of 2022

Global equities and global bonds fell 15.53% and 8.26% respectively in dollar terms over the second quarter of 2022 but only 8.42% and 0.54% respectively in sterling because of currency movements. UK government bonds, sterling investment-grade corporate bonds and sterling high-yield bonds fell 7.86%, 7.83% and 9.10% respectively.

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Quarterly

Quarterly review for the first quarter of 2022

Global bonds fell 3.47% in sterling over the rst quarter of 2022 in response to rising ination and interest rates, with the pound’s weakness masking greater losses in some overseas markets. UK government bonds fared worse, falling 7.46%, while sterling investment-grade corporate and high-yield bonds lost 6.63% and 3.39% respectively.

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Commentary

Ukraine commentary: Investors keep calm and carry on as Russia invades

Gill Lakin, Brompton’s chief investment officer, analyses the market reactions to Putin’s invasion and discusses the prospects for the main asset classes in Brompton’s multi-asset portfolios.

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Quarterly

Quarterly review for the fourth quarter of 2021

Global equities rose 6.29% in sterling over the nal quarter of 2021, ending the year up 20.14%. US stocks outperformed, rising 10.53% in sterling over the quarter, buoyed by US technology stocks, which gained 13.53% as investors braced themselves for more lockdown restrictions in response to the Covid-19 Omicron variant.

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News

Brompton wins CFi.co Best Asset Allocation Strategy (UK) 2021 award

Brompton Asset Management is delighted to be judged winner of the CFi.co – Capital Finance International 2021 award for Best Asset Allocation Strategy (UK). Dynamic asset allocation is at the heart of the Brompton multi-asset investment process because we believe this will be the principal driver of returns for investors.

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Quarterly

Quarterly review for the third quarter of 2021

Global equities and bonds fell 0.95% and 0.88% respectively in local currencies over the quarter but rose 1.48% and 1.55% in sterling because of currency movements. Inflation data proved stronger than expected and central bankers turned hawkish.

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Quarterly

Quarterly review for the second quarter of 2021

Global equities rose 7.39% in sterling over the second quarter of 2021 as the world economy recovered as a result of Covid-19 vaccination programmes, ultra-loose monetary policy and unprecedented fiscal stimulus.

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Quarterly

Quarterly review for the first quarter of 2021

In March, the Federal Reserve lifted its 2021 growth forecast to 6.5% as the recovery accelerated. Fed optimism was confirmed in April, when the initial estimate for first-quarter growth emerged at 6.4%, leaving the economy just 1% below its pre-Covid level.

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Commentary

Covid-19 commentary: Lessons to learn from a tumultuous year in markets

Gill Lakin, Brompton’s chief investment officer, discusses market reactions to this historically-significant public health crisis and examines the opportunities for investors going forward.

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Quarterly

Quarterly review for the fourth quarter of 2020

Global equities rose 8.56% over the quarter to close a turbulent year 13.22% higher in sterling. Global bonds gained 3.28% in local currencies but fell 2.32% in sterling because of currency movements.

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Quarterly

Quarterly review for the third quarter of 2020

Global equities rose 8.25% in local currencies over the third quarter of 2020 but currency swings reduced the gain to 3.46% in sterling. Global bonds gained 2.66% in local currencies but fell 1.88% in sterling.

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Quarterly

Quarterly review for the second quarter of 2020

Global equities rose 19.81% in sterling over the second quarter of 2020, more than regaining the previous quarter’s loss to stand 0.80% higher than at the start of the year.

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Video

Market review 3 April 2020

Gill Lakin, Brompton’s chief investment officer, discusses the global economic downturn triggered by the Covid-19 pandemic and reviews prospects for equities, bonds and other asset classes in the wake of the coordinated monetary and fiscal measures introduced in the world’s major economies.

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Quarterly

Quarterly review for the first quarter of 2020

The world moved into lock-down to combat Covid-19. Hopes that the virus would be contained on the lines of Sars in 2003 gave way to panic. Equities ended the quarter down 15.87% in sterling. The economic impact will be large but should prove temporary.

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Commentary

Covid-19 commentary: Official response should fuel strong recovery once virus numbers plateau

Gill Lakin, Brompton’s chief investment officer, analyses the virus’s economic consequences and the likely impact on the UK equity market of the monetary and fiscal measures taken in response to the crisis.

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Quarterly

Quarterly review for the fourth quarter of 2019

Global equities rose 1.46% in sterling over the final quarter of 2019, closing the year up 22.38%. Risky assets recovered from their late-2018 sell-off as the Federal Reserve changed tack, easing monetary policy through three interest rate cuts.

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Commentary

UK election commentary: Glad tidings of good cheer for investors as Tories triumph

Gill Lakin, Brompton’s chief investment officer, analyses the consequences of Boris Johnson’s landslide victory and outlines the positioning of Brompton’s investment strategies now the Tories can “get Brexit done”.

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Quarterly

Quarterly review for the third quarter of 2019

Global bonds and equities rose over the third quarter of 2019, returning 4.02% and 3.38% respectively in sterling as the Federal Reserve and the European Central Bank (ECB) eased monetary policy.

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Quarterly

Quarterly review for the second quarter of 2019

The second quarter of 2019 was a strong period for markets as global equities and bonds returned 6.28% and 5.76% respectively in sterling in response to increasing prospects of US monetary easing.

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Quarterly

Quarterly review for the first quarter of 2019

Global equities rallied after the sell-off in late 2018, rising 9.79% in sterling over the quarter. A shift in US monetary policy and dovish rhetoric from the Federal Reserve chairman, Jerome Powell, stemmed the ebbing tide of investor confidence.

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Quarterly

Quarterly review for the fourth quarter of 2018

The year 2019 opened to a world of worry, contrasting with the investor optimism prevailing in January 2018. Global equities fell 10.57% in sterling terms over the nal quarter of 2018, erasing most of the previous two quarters’ gains and leaving the loss for the year at 3.27% in sterling.

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Quarterly

Quarterly review for the third quarter of 2018

The sharp falls in equities and bonds during early October overshadowed the benign market conditions of the third quarter of 2018. In the rst half of the month, global equities fell 6.40% in sterling, eradicating the 5.70% gain during the third quarter.

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Quarterly

Quarterly review for the second quarter of 2018

Global equities and bonds rose 7.01% and 3.30% respectively in sterling over the quarter, with returns enhanced by the pound’s 5.88% fall against the dollar. Central bank announcements confirmed the gradual pace of global monetary tightening.

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Quarterly

Quarterly review for the first quarter of 2018

January’s investor optimism moderated in February in the face of stronger-than-anticipated US wage growth and evanesced in March on fears that President Trump’s trade war.

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News

Brompton wins Thomson Reuters Lipper multi-asset investment award

Brompton Asset Management has won the 2018 Thomson Reuters Lipper UK small group award in the mixed assets class. The award recognises the achievements of Gill Lakin, Brompton’s chief investment officer, and her specialist multi-asset investment team.

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Commentary

Volatility is back - but don’t panic

Gill Lakin, Brompton’s chief investment officer, comments on the sharp fall in stockmarkets in early February 2018 triggered by fears of rising interest rates and outlines the positioning of Brompton’s investment strategies in the face of growing market volatility.

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Quarterly

Quarterly review for the fourth quarter of 2017

Gill Lakin, Brompton’s chief investment officer, discusses financial market trends over the final months of 2017 and the prospects for investors in 2018.

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Quarterly

Quarterly review for the third quarter of 2017

Gill Lakin, Brompton’s chief investment officer, discusses financial market trends for quarter 3 of 2017

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News

Brompton appoints David Hedderwick as head of fund research

Brompton Asset Management has appointed David Hedderwick, formerly a senior director at Stanhope Capital, the private investment office, as head of fund research. David’s skills will be deployed within Brompton’s investment team headed by Gillian Lakin.

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Quarterly

Quarterly review for the second quarter of 2017

Gill Lakin, Brompton’s chief investment officer, discusses financial market trends for quarter 2 of 2017

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Commentary

UK election commentary: Global asset spread shields investors from the UK’s hung parliament

Gill Lakin, Brompton’s chief investment officer, analyses the consequences of Theresa May’s failure to secure a Commons majority and outlines the positioning of Brompton’s investment strategies in the face of growing UK political uncertainty.

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Quarterly

Quarterly review for the first quarter of 2017

Gill Lakin, Brompton’s chief investment officer, discusses financial market trends for quarter 1 of 2017

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Quarterly

Quarterly review for the fourth quarter of 2016

Gill Lakin, Brompton’s chief investment officer, discusses financial market trends for quarter 4 of 2016

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Commentary

US election commentary: Positioning portfolios for The Donald

Gill Lakin, Brompton’s chief investment officer, analyses the economic and financial consequences of Donald Trump’s surprise presidential election victory and outlines the evolution of Brompton’s investment strategies.

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Quarterly

Quarterly review for the third quarter of 2016

Gill Lakin, Brompton’s chief investment officer, discusses financial market trends for quarter 3 of 2016

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Commentary

Post-Brexit vote commentary: positioning Brompton’s investment strategies

Gill Lakin, Brompton’s chief investment officer, outlines the changes the investment team has made in client portfolios in response to UK voters’ surprise majority for a departure from the European Union.

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Quarterly

Quarterly review for the second quarter of 2016

​Gill Lakin, Brompton’s chief investment officer, discusses financial market trends for quarter 2 of 2016

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Commentary

Brexit vote commentary: UK equities – "the heads you win, tails you win" asset class

Gill Lakin, Brompton’s chief investment officer, outlines the attractions of UK blue chip stocks and emerging market equities ahead of the UK referendum on European Union membership.

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Quarterly

Quarterly review for the first quarter of 2016

Gill Lakin, Brompton’s chief investment officer, discusses financial market trends for quarter 1 of 2016

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Commentary

Equity market commentary: global consumer stocks offer shield amid turmoil

Gill Lakin, Brompton’s chief investment officer, comments on the sharp fall in stockmarkets over the first six weeks of 2016 triggered by declining oil prices and fears but Chinese economic growth.

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Quarterly

Quarterly review for the fourth quarter of 2015

Gill Lakin, Brompton’s chief investment officer, discusses financial market trends for quarter 4 of 2015

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Commentary

US interest rate rise: no death knell for global equities

Gill Lakin, Brompton’s chief investment officer, comments on the first turn upwards in the US monetary policy cycle since 2006 and the likely impact on global financial markets.

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Quarterly

Quarterly review for the third quarter of 2015

​Gill Lakin, Brompton’s chief investment officer, discusses financial market trends for quarter 3 of 2015

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Commentary

China meltdown: avoid emerging markets but stick with developed world quality stocks

Gill Lakin, Brompton’s chief investment officer, comments on China’s economic woes and their implications for investors as fears about Chinese prospects prompt waves of selling in global equity markets.

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Commentary

Greece's 'no' vote: a buying opportunity for longer-term investors

Gill Lakin, Brompton’s chief investment officer, comments on the Greek referendum, reflecting on the potential consequences of the ‘no’ vote for financial markets and client portfolios.

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Quarterly

Quarterly review for the second quarter of 2015

Gill Lakin, Brompton’s chief investment officer, discusses financial market trends for quarter 2 of 2015

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Commentary

Grexit: a potential buying opportunity but it will pay to be highly selective

Gill Lakin, Brompton’s chief investment officer, comments on Greek financial crisis, reflecting on the potential consequences of Grexit for financial markets and client portfolios.

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Commentary

All eyes on the Fed as Tory victory ends UK political uncertainty

Gill Lakin, Brompton’s chief investment officer, comments on today’s general election result, reflecting on the consequences of the Conservative victory for financial markets and client portfolios.

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Quarterly

Quarterly review for the first quarter of 2015

Gill Lakin, Brompton’s chief investment officer, discusses financial market trends for quarter 1 of 2015

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Commentary

Brompton Asset Management: an introduction by John Duffield

As you look through our website you will discover more about Brompton’s dynamic asset allocation approach and the products and services we offer.

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Commentary

The Brompton investment process: an introduction by Gill Lakin

Brompton’s chief investment officer outlines our dynamic approach to multi-asset investing, embracing asset allocation, fund selection and the construction of portfolios designed to meet the risk and return objectives of our investors.

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Quarterly

Quarterly review for the fourth quarter of 2014

Gill Lakin, Brompton’s chief investment officer, discusses financial market trends for quarter 4 of 2014

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Quarterly

Quarterly review for the third quarter of 2014

Gill Lakin, Brompton’s chief investment officer, discusses financial market trends for quarter 3 of 2014

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Quarterly

Quarterly review for the second quarter of 2014

Gill Lakin, Brompton’s chief investment officer, discusses financial market trends for quarter 2 of 2014

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Quarterly

Quarterly review for the first quarter of 2014

Gill Lakin, Brompton’s chief investment officer, discusses financial market trends for quarter 1 of 2014

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News

The WAY Group’s WAY fund range acquired by Brompton

The WAY Group’s £148 million Global fund range has been acquired by Brompton Asset Management. The funds will now be managed by Brompton’s multi-asset class team led by Gill Lakin, the chief investment officer.

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