In this month’s investment view, we focus on the US election result and its potential implications for the portfolio and the wider global economy.---Please note, these views represent the opinions of the Evenlode team as of 30th October 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, we provide an overview of the consumer goods sector focusing on luxury goods, a much-discussed area as even the affluent feel the pinch.---Please note, these views represent the opinions of the Evenlode team as of 30th October 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, we provide a quarterly update of the Evenlode Global Equity Fund. ---Please note, these views represent the opinions of the Evenlode team as of 23rd October 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, we provide an update on three companies that highlight some key themes within the portfolio.---Please note, these views represent the opinions of the Evenlode team as of 1st October 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, inspired by the Olympics and Paralympics, we share our thoughts on sporting goods, an area of consumer goods that has had to balance on the narrow bar between performance and fashion.---Please note, these views represent the opinions of the Evenlode team as of 27th September 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, as it is holiday season, members of the Evenlode investment team have compiled a selection of books that we have read and found interesting over the first half of 2024. Not all of these texts are obvious light-reading material for the beach, but we hope you find the list of interest!---Please note, these views represent the opinions of the Evenlode team as of 23rd August 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, with recent market volatility hitting the headlines, we report on the half year trading results for some of the fund's holdings which have, in the main, been solid and free from the drama reported elsewhere.---Please note, these views represent the opinions of the Evenlode team as of 14th August 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, with the interim results season in full swing and over 85% of the portfolio's companies having reported, we provide an overview of a number of the underlying holdings.---Please note, these views represent the opinions of the Evenlode team as of 31st July 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, we examine the broad shape of share price moves in recent times and, in comparison, the air of calm that prevails in the Evenlode Global Income portfolio.---Please note, these views represent the opinions of the Evenlode team as of 29th July 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, with investor focus more on electoral issues than corporate developments, and company news flows generally quiet, we focus on four portfolio companies that have released updates in recent weeks.---Please note, these views represent the opinions of the Evenlode team as of 8th July 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, we provide an update to the portfolio.---Please note, these views represent the opinions of the Evenlode team as of 8th July 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, as we continue to watch the high wire spectacle of the US stock market, we expand on our discussion from last month and take a closer look at the real-world drivers that support dividend growth – revenues and cash flow.---Please note, these views represent the opinions of the Evenlode team as of 28th June 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, we comment on the recent takeover approach of Hargreaves Lansdown, and follow with a brief tour of a variety of portfolio holdings to give a sense of recent results and the quality compounding opportunities on offer.---Please note, these views represent the opinions of the Evenlode team as of 7th June 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, we provide an overview of recent market and fund performance and recap what we are trying to achieve with the fund - investing in companies that can grow their cash flows through time, reinvest in themselves to generate further returns and pay a growing dividend to shareholders.---Please note, these views represent the opinions of the Evenlode team as of 28th May 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, we discuss the portfolio's performance in the context of the 'risk on' rally in the wider market, and provide further company insights following the conclusion of the Q1 reporting season.---Please note, these views represent the opinions of the Evenlode team as of 3rd May 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, following the end of the Q1 reporting season, we detail some of our holdings and, outlining our valuation model, explain their positioning in the portfolio.---Please note, these views represent the opinions of the Evenlode team as of 29th April 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

Equity markets began 2024 with a continuation of the strong up-trend which kicked off in late October 2023 when US economic data and policymakers began signaling that US rates had probably plateaued, setting up a cutting cycle in 2024. ---Please note, these views represent the opinions of the Evenlode team as of 22nd April 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, we review the recent quarterly performance of the portfolio and discuss four companies that have recently reported to give some more colour on operational trends.---Please note, these views represent the opinions of the Evenlode team as of 4th April 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, following on from some strong returns on the global stock markets, we discuss some of the holdings we have in the portfolio which have benefitted from these strong returns, and others where returns have been more muted.---Please note, these views represent the opinions of the Evenlode team as of 28th March 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, we discuss some key themes emerging from the recent Q4 results season, and more generally from the current investment environment.---Please note, these views represent the opinions of the Evenlode team as of 8th March 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, with just over half of the portfolio having reported results for 2023, Ben provides an overview of the recent results season, while Rob examines the disparity of results across different areas of the global economy and emerging economic themes.---Please note, these views represent the opinions of the Evenlode team as of 28th February 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, Rob Strachan, Investment Analyst on the Global Income team, highlights some of the discussions that he had with brokers and researchers in the most recent conference season in December.---Please note, these views represent the opinions of the Evenlode team as of 23rd January 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, we will discuss the year just passed, and share some thoughts on the outlook for the year ahead. Economic and geopolitical risks were never far from the headlines in 2023, but most global stock markets ended up posting positive returns for the year, helped by a strong rally in the last two months.---Please note, these views represent the opinions of the Evenlode team as of 15th January 2024 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

This month, with the holiday season approaching, the Evenlode Investment team have compiled a list of books that we have read over the second half of 2023, most, but not all, of which have been published in the last couple of years. Some of these texts are not obvious light-reading for Boxing Day, but we hope you will find something engaging on the list!---Please note, these views represent the opinions of the Evenlode team as of 18th December 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

We end the year with a little activity in the Evenlode Global Income portfolio, having sold out of two positions and buying two others in their place through November and the early part of December. As we’ll see these are not like-for-like swaps in terms of industry, but in the context of overall portfolio positioning they add some diversification and valuation appeal. At the end we’ll take a quick look back at the year as we enter the holiday season.---Please note, these views represent the opinions of the Evenlode team as of 18th December 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, as we move towards the holiday season, we provide a little colour on several themes and businesses from across the portfolio.---Please note, these views represent the opinions of the Evenlode team as of 8th December 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, we continue on the theme of third quarter results and discuss what’s going on right now and in the near future for the companies we invest in, and what people are guessing at for the longer term for these businesses.---Please note, these views represent the opinions of the Evenlode team as of 21st November 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, we will delve into a selection of the third quarter results and explore the wider trends that have driven the fund's robust performance.---Please note, these views represent the opinions of the Evenlode team as of 20th November 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view we discuss two portfolio companies that we mentioned briefly last month. They give a flavour of the valuation and compounding opportunities we see in self-funding, market-leading businesses across a variety of sectors.---Please note, these views represent the opinions of the Evenlode team as of 1st November 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view we provide an initial thematic update as companies start to report on latest revenue figures.---Please note, these views represent the opinions of the Evenlode team as of 25th October 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view we discuss how inflation and interest rates are affecting the global economy and the Evenlode Income portfolio.---Please note, these views represent the opinions of the Evenlode team as of 3rd October 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, we discuss why a relatively new holding, Diageo, exemplifies both the uncertainties and opportunities that we see developing in the markets.---Please note, these views represent the opinions of the Evenlode team as of 29th September 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, following on from our 2023 scene setting earlier in the year, we review some themes from the half-year corporate results season and the fund's performance.---Please note, these views represent the opinions of the Evenlode team as of 30th August 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view with the second quarter results season in full swing, we provide an update on Howden Joinery and how they are faring with the ongoing economic and market challenges.---Please note, these views represent the opinions of the Evenlode team as of 1st August 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, following on from the recent 3-year anniversary of the Evenlode Global Equity strategy, we discuss the differences between it and the Evenlode Global Income strategy, and discuss the health care sector in detail.---Please note, these views represent the opinions of the Evenlode team as of 27th July 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view we give an update on two quite different themes that have come up regularly in recent conversations with company management teams. The first is generative AI, the second is supply chains.---Please note, these views represent the opinions of the Evenlode team as of 1st July 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

Insights and Observations from the C-suite and implications for the Evenlode Global Equity FundThe summer conference season has begun. During the next few months, management teams will take to the road to share their strategy and explain current performance. We recently attended the Bernstein Strategic Decisions Conference I New York, which hosted over 140 executives from leading US companies across a wide range of industries. This provided us with an opportunity to deepen our knowledge of our coverage companies and to discover potential new ideas. The conference also provided insight into management teams’ thoughts on a number of key wider themes.---Please note, these views represent the opinions of the Evenlode team as of 28th June 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

We are halfway through 2023 and some of the economic questions that arose in 2022 are still being grappled with. Inflation, monetary response in the form of rising interest rates, and the effects on demand continue to be discussed at length, with some businesses also still seeing the effects of demand distortions from the covid pandemic.---Please note, these views represent the opinions of the Evenlode team as of 28th June 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view we discuss the art of compounding a business citing the steady growth of publicly-listed Halma over a 50-year period to its position in the FTSE 100 today.---Please note, these views represent the opinions of the Evenlode team as of 1st June 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view we discuss what the 'investment environment' means. It's a big topic, one that will mean different things to different people.---Please note, these views represent the opinions of the Evenlode team as of 26th May 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view we provide an overview of the first quarter results season and ongoing supply chain dynamics.---Please note, these views represent the opinions of the Evenlode team as of 2nd May 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view we have selected three businesses from the portfolio where we see positive long-term prospects, but where there are current challenges.---Please note, these views represent the opinions of the Evenlode team as of 24th April 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view we focus on the full year results season and provide detail from companies within several of the portfolio's key sectors.---Please note, these views represent the opinions of the Evenlode team as of 31st March 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

When we penned our review of 2022, we noted that much of the significant market action had been in sectors that we don’t have direct exposure to. The energy sector was the clear standout performer of the year, benefiting from high prices following Russia’s invasion of Ukraine. The finance sector also rose as interest rates increased from nothing to something. The absence of these sectors from the portfolio that we select on behalf of our clients is a deliberate choice. The Evenlode approach requires certain business characteristics, most notably high returns on capital and consistent free cash generation. Energy firms and banks are each, in their own way, capital intensive businesses and do not naturally fit with our investment style.---Please note, these views represent the opinions of the Evenlode team as of 29th March 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

Regular readers will no doubt be surprised to see us weighing in on the banking crisis, given Evenlode’s exclusive focus on companies with high and persistent unlevered return on investment capital. This has always precluded bank ownership by our strategies, but given the materiality of the situation, we felt it important that we help our clients understand our thinking and the relevance of the events to our portfolio and our investment philosophy.---Please note, these views represent the opinions of the Evenlode team as of 27th March 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view we provide an overview of the latest reporting results for the portfolio and three examples of Evenlode companies that have been quietly investing through the recent period of uncertainty.---Please note, these views represent the opinions of the Evenlode team as of 28th February 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view we provide an overview of the latest company updates and hear where businesses are putting their investment focus.---Please note, these views represent the opinions of the Evenlode team as of 22nd February 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com

In this month's investment view, we give careful consideration to the economic factors of the global equity market downturn of last year and the real-world concerns of inflation, economic growth and business model sustainability.---Please note, these views represent the opinions of the Evenlode team as of 19th January 2023 and do not constitute investment advice.Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.For more information visit evenlodeinvestment.com