Global Equity markets recovered much of their previous month’s losses through September, especially across developed markets. Performance of some of the main asset classes are highlighted below.

(All figures are based on bid to bid pricing with income reinvested, in Sterling terms)

In what continues to be the biggest influence on markets, US and China trade tensions took a more constructive path this month as both sides sought further dialogue – helping to lift investor sentiment. The UK market also performed well across the month, despite the political noise as we move closer to the Brexit deadline of 31^st October.

Given the positive equity backdrop, our portfolios have performed well over the month both in absolute terms and also above our stated benchmarks. Our relative performance was also driven by a marked change in style bias, with value significantly outperforming growth over recent weeks, which has benefited our value bias across our portfolios.

Custody Statements

You will have recently received your quarterly Custody Statement in the post. These documents are issued direct from our custodian, Pershing, and provide you with confirmation of all of your holdings, quantity and value that are being held on your behalf in nominee by Pershing.  We are working with Pershing to amalgamate these within the standard quarterly valuation report in order to reduce the amount of paperwork being issued. And where possible stored electronically.

THE BOOLERS INVESTMENT COMMITTEE