Trustnet Magazine 61 April 2020 | Page 28

Your portfolio We strive to explore further. 28 / 29 but what you really want to see are things going up in baby steps, with low volatility,” he says. “That is a better sign than things galloping away.” According to Goldman Sachs, there are three types of bear market, each with its own defining characteristics: structural bear markets, cyclical bear markets and those that are event- driven, which tend to be shorter and sharper, both on the way in and out. While forms of bear market will vary, certain leading indicators will always play a role. ClearBridge Investments, an affiliate of Legg Mason, produces a monthly Recession Risk Dashboard, tracking data points categorised as Aberdeen Standard Investment Trusts ISA and Share Plan We believe there’s no substitute for getting to know your investments first hand. That’s why we look to analyse and speak to companies intensively before we invest in their shares and while we hold them. Focusing on first-hand company research requires a lot of time and resources. But it’s just one of the ways we aim to seek out the best investment opportunities on your behalf. Please remember, the value of shares and the income from them can go down as well as up and you may get back less than the amount invested. No recommendation is made, positive or otherwise, regarding the ISA and Share Plan. “You can look at share prices over six or nine months and think things are picking up, but what you really want to see are things going up in baby steps” financial (yield curve, credit spreads and money supply), inflation (wage growth and commodity prices), consumer (housing permits, jobless claims, retail sales and job sentiment), or business activity-related (Institute for Supply Management new orders, PERFORMANCE OF INDICES (IN $) IN 2020 The value of tax benefits depends on individual circumstances and the favourable tax treatment for ISAs may not be maintained. We recommend you seek financial advice prior to making an investment decision. S&P GSCI Copper Bloomberg Barclays Global Nasdaq Philadelphia Stock Spot (-20.69%) High Yield (-16.06%) Exchange Semiconductor (-20.28%) 10% Request a brochure: 0808 500 4000 invtrusts.co.uk 5% 0% -5% -10% -15% -20% -25% -30% Please quote 2306 Issued by Aberdeen Asset Managers Limited, 10 Queen’s Terrace, Aberdeen AB10 1XL, which is authorised and regulated by the Financial Conduct Authority in the UK. Telephone calls may be recorded. aberdeenstandard.com -35% Source: FE Analytics trustnet.com