Monthly Update: September 2017
Turning to equity and commercial property markets, which are currently performing very well, it seems to me that they are quite different from the equity boom of the late Nineties[…]
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Monthly Update: August 2017
Since the referendum vote in June 2016, the British pound has lost 15% of its value against other currencies. Some see an upside to this slump: with products more competitive[…]
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Monthly Update: July 2017
Setting interest rates in the UK is a delicate business these days. The hawks on the Monetary Policy Committee cite falling unemployment, surveys suggest that companies are keen to invest[…]
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Monthly Update: June 2017
One year on from the referendum it is time to look at the economic consequences so far. The economy has grown at an annualized rate of 1.8% in the three[…]
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Monthly Update: May 2017
There is too much cash chasing too few good shares. Three important factors (and myriad others) have driven this large liquidity support for markets: first, profits have surged in recent[…]
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Monthly Update: April 2017
Theresa May repeated 11 times in parliament on 26 April that Britain boasted a strong economy that depended on her strong and stable leadership. Is that the case and will any perceived weakness[…]
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Monthly Update: March 2017
The real Brexit process is (at last) underway. For half the country, the triggering of Article 50 was a moment to celebrate: for me, it marked a bleak day. The[…]
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Monthly Update: February 2017
The unaudited NAV of Athelney Trust rose by a satisfactory 3.7 per cent in the month of February. With the New York markets hitting a new high last week, we[…]
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Monthly Update: January 2017
Theresa May’s private opinion of Donald Trump goes recorded but I doubt that she is a natural fan. Looking backwards, Margaret Thatcher put up with Ronald Reagan’s invasion of Grenada,[…]
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Monthly Update: December 2016
The Athelney Trust unaudited total return for 2016 was 5.5% and reflected the below-average performance by commercial property shares in the second half of the year. Imagine a time-traveller landing[…]
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