The Strategic Solutions Investment Committee undertakes extensive research and due diligence across the wider market to ensure that the strategies and products selected for our panel, offer advisers high-quality solutions to meet their clients’ investment objectives and requirements.

The strategies are reviewed monthly by the Committee and assessed against one another as well as the broader market. We evaluate not only performance but also risk metrics and any changes to the underlying investment strategy. This ongoing process enables us to continually reassess our selected strategies and challenge fund providers where necessary, ensuring they remain appropriate for our clients’ needs and objectives.

 

Last 3 months Cumulative Performance to 31/04/26

Risk Profile	Average Performance	Lowest Performance	Highest Performance
Defensive	0.34%	-0.70%	1.35%
Cautious	1.00%	0.00%	2.23%
Balanced	1.67%	-0.16%	3.01%
Moderately Adventurous	2.15%	0.03%	4.09%
Adventurous	2.82%	-0.40%	4.57%

Data from FE 30/04/26

 

Each quarter we ask fund partners to provide us with their market outlook or with comments on particular topics/themes.  This quarter Liontrust give us their opinion –

Investors were confronted by two major potential transformations in the first three months of 2026. Over the first two months of the year, investors were downgrading the share prices of those companies they believed were going to be losers from AI. Then, from the start of March, stock markets experienced significant volatility as investors tried to work out the possible length, escalation and impact of the conflict in the Middle East.

Key questions during March were: are we heading for an oil price of $200 a barrel, a recession, stagflation or anywhere in between? While the ceasefire between the US and Iran was in place at the time of going to press, what was clear is that the developments in the Middle East were likely to be transformative, particularly in terms of the politics of the region and the future of supply chains. The economic and investment concerns about the impact of the conflict initially focused on rising inflation from an oil price that had been see-sawing around and above the $100 level. This has led to the possibility of UK interest rates being raised during 2026 rather than be cut further as had been previously forecast. Concerns then spread to the conflict causing economic growth to low or even lead to a recession. Stagflation – a combination of high inflation and low growth – is the most pessimistic scenario being discussed. The US’ attack on Iran was the main driver of markets over March. Markets sold off early in March before stabilising somewhat towards the end of the month. Investors remain highly sensitive to news flow, with the “information” that drives markets one day often being effectively contradicted the next. The benefits of diversification have been demonstrated by differences in performance between stock markets in reaction to the two transformative events so far this year. Stock markets sold off during March, especially those regions dependent on energy imports. In sterling terms, Asia ex-Japan and emerging markets led the declines, falling -11.6% and -11.4% respectively, while Japan fell -10.7%and Europe ex-UK declined -8.7%. In sterling terms, the US fell less at 3.2% and UK equities were down -5.9%. From the start of 2026 to the end of March, however, Japan, emerging markets and Asia ex-Japan remained positive, *returning 3.4%, 1.7% and 1.2% in sterling terms respectively. The UK proved to be resilient over the first quarter with a return of 4.1%, reflecting its strong start to January and February as well as a heavier weighting towards energy and commodity linked sectors, which fared relatively well in March. By contrast, the US and Europe ex-UK were negative over the quarter, returning -2.5% and -2.1% in sterling terms respectively.

 

LIONTRUST VIEWS – SPRING

Past performance is not a reliable indicator of future returns. The value of investments and the income from them can go down as well as up, so you may not get back what you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. Changes in currency exchange rates may affect the value of an investment in overseas markets. Investments in small and emerging markets can also be more volatile than other more developed markets.