Articles
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Newsletter - April 2026
Middle East tensions disrupted key energy routes, lifting oil prices and increasing inflation risk complicating the outlook for central banks. Markets have seen bouts of risk aversion, but we remain focused on portfolio companies with strong balance sheets, cash generation, and pricing power.
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Newsletter - April 2026
Middle East tensions disrupted key energy routes, lifting oil prices and increasing inflation risk complicating the outlook for central banks. Markets have seen bouts of risk aversion, but we remain focused on portfolio companies with strong balance sheets, cash generation, and pricing power.
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Fundamentals vs fear
Despite the impact of recent wide-ranging geopolitical events on markets, we remain focused on what we can control: the quality of the businesses we own, the prices we pay for them, and the patience to let fundamentals, rather than sentiment, drive long-term returns.
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Fundamentals vs fear
Despite the impact of recent wide-ranging geopolitical events on markets, we remain focused on what we can control: the quality of the businesses we own, the prices we pay for them, and the patience to let fundamentals, rather than sentiment, drive long-term returns.
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Is quality investing dead?
A few articles have appeared over recent weeks in the financial press, entitled ‘is quality investing dead? Our view is that the market has pushed this narrative too far; the portfolio holdings are currently cheaper on aggregate than the UK market, and very substantially cheaper than the global stock-market which has created a valuation opportunity that is commensurately compelling.
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Is quality investing dead?
A few articles have appeared over recent weeks in the financial press, entitled ‘is quality investing dead? Our view is that the market has pushed this narrative too far; the portfolio holdings are currently cheaper on aggregate than the UK market, and very substantially cheaper than the global stock-market which has created a valuation opportunity that is commensurately compelling.
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Newsletter - March 2026
February markets rotated from services into asset-backed cyclical/defensive sectors amid 'Magnificent 7' weakness and AI-disruption fears, but we believe disruption risk is overstated and that trusted proprietary data franchises should become more valuable as AI adoption accelerates.
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Newsletter - March 2026
February markets rotated from services into asset-backed cyclical/defensive sectors amid 'Magnificent 7' weakness and AI-disruption fears, but we believe disruption risk is overstated and that trusted proprietary data franchises should become more valuable as AI adoption accelerates.
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On a ‘very weird’ market, and controlling what you can
This month we provide an analysis of the current unusual market conditions in the US and European stock markets, highlighting sector divergences as well as the investment opportunities we see within the Evenlode Global Dividend fund portfolio.
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On a ‘very weird’ market, and controlling what you can
This month we provide an analysis of the current unusual market conditions in the US and European stock markets, highlighting sector divergences as well as the investment opportunities we see within the IFSL Evenlode Global Income Fund portfolio.
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Review and outlook for 2026
We usually use this first investment view of the year to discuss the previous 12 months, but given the unusually polarised stock market conditions of the first few weeks of 2026, we will also briefly discuss our current thoughts, and the very attractive opportunity set that we see within the portfolio.
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Review and outlook for 2026
We usually use this first investment view of the year to discuss the previous 12 months, but given the unusually polarised stock market conditions of the first few weeks of 2026, we will also briefly discuss our current thoughts, and the very attractive opportunity set that we see within the portfolio.