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It is often necessary to endure in markets. The mood is currently grim and intensely nervous, yet the global economy is growing at near to record pace. This seems set to continue in the years ahead as emulation and innovation accelerate.
We are finding an increasing number of stocks trading at depressed multiples and underestimating future growth opportunities. This particularly applies in the broad technology field. We are quite excited but aware that patience will be required.
Investment markets and conditions can change rapidly and the views expressed by our Managers should not be relied upon when making investment decisions. Remember, past performance is not a guide to future performance. The value of your investment may go down as well as up and you may not get back the amount you invested. Also, as the Trust invests in overseas securities changes in the rates of exchange may also cause the value of your investment (and any income it may pay) to go down or up.
