It has been said many times that the last mile of disinflation is the most difficult. With markets betting on the timing of the first cut in interest rates, every monthly inflation number is both eagerly anticipated and closely analysed for clues.
Central banks warned that financial markets might have become overly optimistic about the probability of rate cuts in the first quarter of this year, after headline inflation rates accelerated modestly in December followed by early indicators of economic activity strengthening in January.
This year, markets will remain transfixed by familiar stories: the path of inflation; how fast interest rates will fall from multi decade highs; and the potential for a growth slowdown. The returns for the year will likely pivot on how the reported data fall out.
A fund of funds that aims to achieve a return for investors over the medium to long term based on a combination of capital growth and income, and with a medium to high volatility level through exposure to a diversified range of asset classes.