A hawkish start to 2024 has weighed on UK equity market sentiment. But despite the surprise of higher than expected inflation, economic data remained strong, and central banks including the Bank of England (BOE) kept rates on hold.
UK equities have fallen out of fashion in recent years—not helped by a slew of negative headlines. However, Martin Currie’s Ben Russon believes it is time to change the narrative to a more positive one, and shares the reasons for his optimism.
If 2023 is anything like 2022 then the UK may be in for a bumpy ride – inflation surged, interest rates soared, currencies swung, and UK the government clashed. But for us, one of the main challenges ahead for UK equities can be succinctly