New Court

In conversation with: Lord Sedwill

In our latest 'In conversation with' series, we had the pleasure of speaking with Lord Sedwill. The conversation was wide-ranging, covering both domestic and global issues, as well as touching on his role at the recent G7 Summit in Cornwall where he chaired a panel on economic recovery.

Quarterly Podcast: Another strong quarter prompts the long-anticipated rise in inflation

While the second quarter of 2021 saw a continuation of many of the first quarter trends; strong global GDP growth, slowing contagion rates and ongoing vaccination roll outs, we are finally seeing a rise in inflationary pressure. The extent of this inflation, and impact on businesses, stocks and bonds, still remains to be seen, but will likely depend on supply-side dynamics and ongoing policy decisions. Portfolio performance has continued its strong run from the last quarter, owing to some surprise overperformers, and businesses recovering more of their pre-pandemic returns. Despite the anomalies of the current market landscape we are optimistic about the coming months, given the likely continued release of demand, and the potential opportunities that a post-Brexit UK could present. 

Quarterly Podcast: Robust growth continues, but what does this mean for market froth and the spectre of inflation?

The first three months of the year have seen the continued recovery of national economies and markets, with much of the world now at more-or-less pre-crisis levels of GDP. While bonds have fared less well in recent months, and there are still lingering uncertainties around inflation and diverging recovery rates, we believe that fiscal policy will help mediate this inflationary risk, and that growth statistics do not tell the whole story about the current or future trajectory of different nations. The favourable stock market landscape has made for a strong quarter for our portfolios, bolstered by the continued rotation away from ‘growth’ to ‘value’ stocks and a better-than-expected performance by our diversifying assets, which usually drag in a period of rising equity markets. 

The hidden tax: inflation

As global markets and economies begin to recover, and look forward to a post-pandemic surge in demand, there have been increasing concerns about a subsequent rise in inflation. Taking a look at dramatic periods of high inflation like the 1970s, as well as how low inflation can erode wealth and undermine returns over time, we delve into what inflation is, its risks, and what we do to try and protect portfolios in the event of an increase.

A closer look at: Mastercard and American Express

With a drop in consumer spending and a halt in international travel, payments companies were naturally impacted during 2020. And yet, at the same time, the past year has seen a huge shift from cash to digital payments, as consumers look for more hygienic methods of paying.

Taking a closer look at these trends, we take a deep-dive into Mastercard and American Express, the two payments companies held in portfolios.

Quarterly Podcast: A confident end to a remarkable year

The fourth quarter marked a strong end to a turbulent year, shoring up the remarkable market recovery in the latter half of 2020. Market performance was boosted by the rolling out of vaccinations alongside supportive policy, continued economic recovery and encouraging geopolitical developments. This supported our view that markets tend to ‘look across the valley’, especially in what was primarily a public health crisis, rather than an economic or financial one. An equally impressive quarter for portfolios was bolstered by the rotation towards ‘value’ stocks and several key investment decisions made during the last few months.

Meet the Manager: Tony Gannon, Abbey Capital

In our latest Meet the Manager podcast we spoke with founder and CIO of Abbey Capital, Tony Gannon. Abbey Capital is the world’s largest manager of world's largest manager of multi-manager managed futures funds, with a particular focus on trend following strategies. 

Tony gives us an insight into this industry, how it can provide a source of returns even in adverse market conditions, as well as how Abbey Capital's multi-manager approach sets them apart.

In conversation with: Anthony Scaramucci

With the 2020 US Presidential Election now less than a week away, Joe Biden maintains a robust lead in the polls despite aggressive campaigning by President Trump. Nonetheless, after a remarkable year, and given what happened in 2016, it is still impossible to be certain of either a Democrat or Republican victory on 3^rd November.

In this special election podcast, we are joined by financier, entrepreneur and Trump’s former White House Director of Communications, Anthony Scaramucci. Anthony shares his personal experiences in the White House and gives an exclusive insight into the president’s character. Now a passionate Biden supporter, he discusses the various forces at play going into the election, as well as his predictions for its outcome and beyond.  

Quarterly Podcast: Are we due a change in the markets?

As markets continue to build upon their second quarter rebound, economic recovery has continued, albeit unevenly. Analysing these dynamics alongside prevailing geopolitical concerns, we remain positive about the current trajectory of recovery, considering generous monetary policy and recovery packages. After a strong but ‘lumpy’ quarter for portfolios, we outline the gains made by our Return Assets. Debating the prospect of a rotation in the market, we explain the changes which have been made in portfolios to pre-empt such a rotation and potential inflation risks.

The Rothschild Archive: Overcoming adversity

In times of crisis, it is natural to look to the past for guidance. Now, as we continue to navigate the challenges of this global pandemic, we reflect on our experiences as a firm, how we have weathered periods of volatility and how our family origins have shaped our longevity as a business.