In focus
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[ 2020 OUTLOOK ]
Despite the length and maturity of the bull
run, Adam Lewis finds fund managers and
analysts in cautiously optimistic mood in his
outlook for every major region in 2020
Ageing bull
A
n all-English Champions League Final,
England triumphant in the Cricket
World Cup and a runners-up medal for
the England rugby union team certainly
made 2019 memorable from a sporting point of view.
However, from an economic perspective, 2019
repeated much of what has come before, with the
UK paralysed for large parts by Brexit and political
uncertainty and the US and China remaining at
loggerheads in terms of trade deals.
There was a change in direction of global monetary
policy, with the US ending a period of quantitative
tightening and cutting interest rates three times,
indicative of a trend in global central banks trying to
wrestle back control of growth in the economy.
At the same time, if 2018 was remembered as the
year volatility returned to global stock markets, the
buzzword for 2019 was very much liquidity, with
the closure of Woodford Investment Management
dominating the headlines.
But what does next year hold? Here we look at
what investment trust managers expect from 2020
and which funds seem appealing.
TRUSTNET
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