29 / 40
THE INVESTOR
|
29
THE INVESTOR CENTRE
WELCOME
TO THE
INVESTOR
CENTRE
T
he election of Donald
Trump as US President
was one of the
defining events of 2016. His
campaign pledges to invest in
infrastructure and cut business
taxes helped push the S&P 500
index to new highs, helped by
signs that the US recovery is
gathering strength.The Federal
Reserve reacted with its second
rise in US interest rates in
December. But expectations that
Trump’s policies will stimulate
inflation and increase debt meant
government bonds ended the
year on a weak note.The UK
stock market ended the year
strongly, spurred by the sharp
depreciation in sterling since
the Brexit referendum, which
has benefited UK-listed
companies with overseas
earnings. Markets in Japan and
the eurozone were also buoyed
by the strengthening dollar.
IN THIS SECTION
30 The quarterly report
32 Portfolio update
34 Unit Trust Portfolios
36 Viewpoint
Richard Peirson (pictured),
AXA Investment Managers
38 Insights
Fund manager quarterly commentaries are
now available in the Insights section of your
Partner’s website or at www.sjpinsights.co.uk