Investment Commentary January 2021

Taken together, recent economic reports and several indicators of current economic activity show that after peaking in the third quarter of 2020, the pace of economic growth has slowed across the developed markets in recent weeks.

In most instances, the decline in growth momentum in November and December has resulted from renewed restrictions on economic activity due to a resurgence in Covid-19 infection rates. The forecast growth figures for Q4 2020 would confirm significant contractions in gross domestic product (GDP) across the major economies during 2020.

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The value of your investment can go down as well as up, and you can get back less than you originally invested. Past performance or any yields quoted should not be considered reliable indicators of future returns. Prevailing tax rates and relief are dependent on individual circumstances and are subject to change.