The approval of the first coronavirus vaccine last November changed the investment landscape, with rising inflation expectations pushing ten-year US Treasury yields substantially higher.
It has been a tumultuous year for Temple Bar with the Covid sell-off being followed by the appointment of a new manager and the long-awaited rotation into value.
There is a growing school of thought that the combination of pent-up consumer demand and stimulus will lead to a surge in inflation, which could have a huge impact on the performance of the different asset classes.
The rotation in favour of value stocks is not just a UK or US phenomena, but applies everywhere – including Japan, where a cyclical recovery would ensure that the trend becomes firmly established.
The billion-pound commodities investment trust had a strong 2020 and is well-placed to continue to deliver excellent returns.
After years of underperformance, value funds are finally starting to catch up with their growth counterparts.
If it continues as many expect, the recent emerging-markets revival could herald a third major period of EM outperformance.
Listed hedge fund Pershing Square Holdings has protected its portfolio against the threat of higher Treasury yields caused by rising inflation.
Nick Sudbury looks at the prospects of commodity funds in the face of a coming wave of inflation.
Keystone Positive Change (LON: KPC), as it is now known, is a £228m investment trust that until recently had invested in UK equities under the management of Invesco Perpetual. They have since been replaced by Baillie Gifford, which has delivered some amazing returns for investors in the last few years, with the firm given a…