The last year was a game of two halves with the first six months providing over 80% of portfolio returns. Overall, virtually all client portfolio returns came from shares and property. Bond returns were negative over the year due to interest receipts being outweighed by falling bond values as interest rates rise. The current mood in share markets is one of optimism…

Risk and uncertainty are always present in markets, but because of Covid-19 and the seemingly unstoppable rise of share markets, the current outlook is more complex than usual…