November 2016 Commentary

It would appear that the biggest theme of 2016 will end up being “conventional wisdom is wrong, bet against the consensus view”. From Brexit to inflation to OPEC to Donald Trump, we are living through a period that future generations will read about in history books. Going forward from November 9th, 2016, investing will require new thinking and different positioning. We stand at the end of years of easy and unorthodox monetary policy. We could be transitioning to a new fiscal world order, and when we think about all the wealth that has been created by zero and negative interest rate policies, we can’t help but think that things are about to change.

We are pleased to say that both funds delivered positive performance in November...

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