Issue 61 / April 2020
Editor’s letter
T
MENTAL WEALTH
How the human psyche
can hamper returns
GREEN SHOOTS
Signs that herald the
end of a bear market
COPING STRATEGIES
How global managers have
shifted their regional allocation
Fund, Pension, Trust / Data Hub / Sector Profile / Stockpicker / What I Bought Last
ISSUE 61
CREDITS
TRUSTNET MAGAZINE IS
PUBLISHED BY THE TEAM BEHIND
TRUSTNET IN SOHO, LONDON
WEBSITE: www.trustnet.com
EMAIL: [email protected]
he speed
with which
the market
has reacted to the
coronavirus pandemic
means it would be
futile for a monthly
magazine to attempt
to focus on the
conditions specific to
the current crisis, so
instead in this issue
we are taking a more
general look back at
previous crashes. In
this month’s cover
story, I examine the
five biggest market
collapses over the
past 100 years, while
Hannah Smith delves
into the psychology of
investors to see why
they so often take the
worst course of action
at the worst possible
Anthony Luzio
Editor
T: 0207 534 7652
40
which fund she is using
to take advantage of the
risk/reward dislocation
in investment grade
bonds.
Enjoy reading,
Green shoots find themselves under the
spotlight this month Data hub
P. 34-39 P. 50-51
Sam Shaw reveals the signs
that typically herald the end
of a bear market
P. 26-33
Javier Otero
Art direction & design
W: [email protected]
Fund, pension, trust
Editorial
Gary Jackson
Editor (Trustnet)
T: 0207 534 7680
Rob Langston
News editor
T: 0207 534 7696
Eve Maddock-Jones
Reporter
T: 0207 534 7676
Photos supplied by iStock
Cover illustration: Javier Otero
response to the crisis.
In our regular
columns, John Blowers
weighs up your options
if the market crashes
just as you are about
to retire, Mercantile
Investment Trust’s Guy
Anderson names three
stocks he is backing in
the UK’s underrated
tech sector and BMO’s
Kelly Prior reveals
Anthony Luzio
Editor
Contents
CONTACTS:
Sales
Richard Fletcher
Head of publishing sales
T: 0207 534 7662
Richard Casemore
Account manager
T: 0207 534 7669
Constance Candler
Account manager
T: 0207 534 7668
time. Staying on this
theme, Sam Shaw
looks further ahead
as she finds out which
economic indicators
generally herald the
end of a bear market
and, in this month’s
sector focus, Adam
Lewis asks IT Global
managers how they
have adjusted their
regional allocation in
SVS Church House
Investment Grade Fixed
Interest, Allianz Strategic
Bond and Hipgnosis Songs
Crash course
Anthony Luzio guides you
through the five biggest market
crashes of the past 100 years
P. 4-13
Worry, but don’t panic
James Budden says Baillie
Gifford’s calm approach should
allow its funds and investment
trusts to emerge from the
current crisis as robustly as
they entered it
18
P. 14-17
In numbers: Crash hits
Coping strategies Sucker punched
Adam Lewis runs the rule over
how global investment trust
managers have shifted their
regional allocation in light of
the coronavirus crisis John Blowers weighs up your
options if the market crashes
at the point you retire
P. 40-49 Hotspot
52
P. 52-61
Mercantile Investment Trust’s
Guy Anderson names three
stocks he is backing in the
UK’s underrated tech sector
P. 62-63
Mental wealth What I bought last
Hannah Smith delves into
human psychology to work
out why investors often take
the worst course of action at
the worst possible time BMO’s Kelly Prior reveals
which fund she is using
to take advantage of the
risk/reward dislocation in
investment grade bonds
P. 18-25
P. 64-65