Diversified Opportunities Fund - December Update

Press release -

Global equity markets fell in December to round off the worst year since the global financial crisis. Markets were rattled by a myriad of concerns including the US Federal Reserve (Fed) raising interest rates too quickly, US economic growth being revised down for the third quarter, President Trump warning that he was prepared for a long government shutdown if he did not receive funding for a border wall with Mexico, as well as the UK's exit from the EU and the ongoing US/China trade talks. Markets were led lower by the US, which came to the brink of a bear market in December.

The UK equity market also fell in December, having been impacted by concerns over the possibility of a global economic slowdown, falling crude oil prices, and Brexit uncertainty. In UK politics, whilst the Prime Minister survived a 'no confidence' vote, securing her leadership of the Conservative party for another 12 months, she was forced to delay Parliament's vote on the (EU leaders approved) UK Withdrawal Agreement deal on concerns it would not be passed. Heightened fears of a no-deal Brexit following this news saw the pound fall to a 20-month low versus the US dollar, although the Prime Minister's survival of the subsequent 'no-confidence' vote did see the pound recover some losses towards the end of the month.

For full update click here​ (PDF 843 KB)