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UK Equities: Cautious, But Seeing Opportunities In Our Home Market

Needless to say, these are unpredictable times for the UK given the gathering uncertainty over the Brexit negotiations and the flickering possibility of a Corbyn-led government. Our view is that the UK’s challenges are economic as well as political, something which has been reflected in the relative underperformance of UK equities vis-à-vis global indices.  From a structural point of view, the UK economy appears to have made little progress over the past couple of years. While the manufacturing sector has seen some benefit from the post-referendum devaluation of sterling, it remains a small part of the economy and has not lifted...