Articles
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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.
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Newsletter - February 2026
Markets refocused on earnings in January, and despite macro softness and AI-driven scrutiny (especially in enterprise software), high-quality companies with durable advantages and recurring revenues look best positioned creating selective valuation opportunities for long-term investors.
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Newsletter - February 2026
Markets refocused on earnings in January, and despite macro softness and AI-driven scrutiny (especially in enterprise software), high-quality companies with durable advantages and recurring revenues look best positioned creating selective valuation opportunities for long-term investors.
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Review of 2025
In this first investment view of 2026 we take a detailed look at the IFSL Evenlode Global Income portfolio, the performance drivers over the last year, and the broader equity market situation. It’s a longer read than our usual monthly missives, but we hope you find the discussion interesting and useful.
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Review of 2025
In this first investment view of 2026 we take a detailed look at the Evenlode Global Dividend portfolio, the performance drivers over the last year, and the broader equity market situation. It’s a longer read than our usual monthly missives, but we hope you find the discussion interesting and useful.
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2025 roundup
Although the fund's net asset value per share remained flat over the year lagging the MSCI World Index, our portfolio companies continue to demonstrate robust fundamentals, such as strong earnings growth and resilient cash flows. We believe these strengths will ultimately be recognised in share prices. As a result, we see the current environment as an attractive opportunity to invest in high-quality businesses at appealing valuations.
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2025 roundup
Although the fund's net asset value per share remained flat over the year lagging the MSCI World Index, our portfolio companies continue to demonstrate robust fundamentals, such as strong earnings growth and resilient cash flows. We believe these strengths will ultimately be recognised in share prices. As a result, we see the current environment as an attractive opportunity to invest in high-quality businesses at appealing valuations.