13 August 2018
In the latest of our Multi-Asset Master Classes, Matthew Lamb, CEO of Pacific AM and Will Bartleet, CIO/Portfolio Manager of Pacific Multi-Asset discuss what is currently driving markets and the impact of Trump, Trade Wars, BREXIT and more. Will explains why he believes having plenty of 'dry powder' is key and discusses how the portfolios are currently positioned. They also discuss the recent record moves in Technology Stocks and the influence of the FANGs on US Equities.
23 May 2018
Will Bartleet, CIO and Portfolio Manager of Pacific Multi-Asset
Opportunities in energy stocks
Energy companies have been in the doldrums for a decade, generating no returns for investors despite generous dividends, whilst global equities have
returned nearly 80%. The obvious culprit has been the oil price which is down by a quarter over the same period as the phrase “commodity super cycle”
crashed out of the investment lexicon. With the usual enthusiasm to build capacity in the good times, oil companies kept on spending for a full five
years after the peak in the oil price. The additional capacity pushed the market into over-supply and the oil price crashed a year later. Not so super.
12 April 2018
In the latest of our Multi-Asset Master Classes, Matthew Lamb, CEO of Pacific AM and Will Bartleet, CIO/Portfolio Manager of Pacific Multi-Asset look back at Q1 2018, discuss the current global investment outlook and what the return of volatility has meant for global equities and bonds. They also discuss how the Pacific Multi-Asset Portfolio is positioned and consider where the opportunities are going forward.
09 February 2018
Will Bartleet, CIO and Portfolio Manager of Pacific Multi-Asset
A winter storm is blowing through markets
After months of mild weather, a winter storm is blowing through markets. First it was government bonds that sold off as investors finally took the
threats of central banks seriously, stirred by signs of rising wage pressure.
12 January 2018
06 December 2017
Will Bartleet, CIO and Portfolio Manager of Pacific Multi-Asset
Bitcoin: Let’s run through the bubble checklist
As Christmas parties start to fill the diary, there’s one subject everyone wants to talk about: Bitcoin. Blockchain is an innovative technology that
creates an electronic ledger secured with cryptography whose applications range from the origination of corporate bonds* to simplifying the process
of recording property titles.
17 October 2017
Will Bartleet, CIO and Portfolio Manager of Pacific Multi-Asset
Who will be the next Governor of the Federal Reserve?
One of the most influential leaders in the world will be appointed soon. You won’t have been able to vote for the candidates, nor will any of your
neighbours. But don’t worry, the appointment will be decided by a wise leader, the 45th President of the United States, Donald Trump. Yes
soon, we will know who will be the next Governor of the Federal Reserve.
29 September 2017
Will Bartleet, CIO and Portfolio Manager of Pacific Multi-Asset
Opportunities in Eastern Europe
Contrarian investing is often thought of as being like catching a falling knife: looking for assets that are tumbling and heroically buying into them
at the bottom. Like all dangerous games, you can sometimes play and look like a hero, but more often than not you come off worse for wear. Our approach
to contrarian investing is not to fight the herd, but rather to look elsewhere for great opportunities that are just off most investors’ radar screens.
One equity market that meets this approach is Eastern Europe, comprising of Poland, Hungary and Czech Republic. Not part of Europe, so ignored by European
investors, but not big enough to grab the full attention of many emerging market investors.
18 August 2017
Will Bartleet, CIO and Portfolio Manager of Pacific Multi-Asset
UK Paycuts – Thanks for your hard work, here's a pay cut
Imagine walking into your manager’s office at the end of a good year and your boss smiles and awards you a pay cut. This is exactly what has happened
to workers in the UK this year. Whilst wages have risen 2.1%, inflation is running at 3.6% so in real terms,
the average worker is 1.5% poorer than they were last year. Prior to 2008, workers’ pay exceeded inflation by 2.5%, so every year people ended the
year better off than they started it. Since then real wage growth has been negative, so on average, after inflation, UK workers are earning less than
they were nearly 10 years ago.
11 July 2017
Will Bartleet, CIO and Portfolio Manager of Pacific Multi-Asset
The 3-6-3 Rule
Bank managers used to operate on the 3-6-3 rule: borrow at 3%, lend at 6% and be on the golf course by 3pm. Ultra-low interest rates and QE has pushed
down the spread between the cost of borrowing and lending which has had a detrimental effect on their net interest margins. Rising bond yields relieve
this pressure, and this combined with far fewer fines, an easing of the regulatory environment and cost cutting means that earnings are growing again.