Markets have certainly kept investors on their toes in 2015.
At the end of last year, a straw poll conducted by Investment Adviser suggested that the FTSE 100 could finally break through the 7,000 barrier. A feat that was achieved in March as the threat of a Greek exit from the eurozone started to recede.
Other indices also reached record highs during the year, with the S&P 500 index reaching an all time high of 2,130 in May, and the Nikkei 225 index in Japan briefly surpassing the 20,000 mark in April.
However August brought investors back to reality with the so-called ‘Black Monday’ crash as concerns in China and an almost 9 per cent fall in the Shangahi Composite on August 24 saw global stockmarkets plummet.
Markets have since recovered to some extent, with the FTSE 100 back down to the 6,250 mark as of December 24, while the S&P 500 index sits around the 2,064 mark.
Monetary and macroeconomic policy have been key drivers in the past 12 months, with the eagerly awaited first interest rate hike coming from the US Federal Reserve this month, with the caveat that future rises will be gradual.
But on a more domestic note, the UK investment industry has seen its own upheavals in the past year. From manager moves such as Jason Pidcock switching from Newton to Jupiter, Stewart Cowley departing Old Mutual Global Investors and Angus Tulloch and Jonathan Asante stepping back at Stewart Investors to Richard Buxton becoming chief executive of Old Mutual Global Investors.
Meanwhile the news in February that Jupiter was handing over its Global Managed fund to Stephen Mitchell from John Chatfeild-Roberts and Simon Somerville was the most read story online from Investment Adviser.
Other favourites amongst our readers show the diverse range of interests and the developing trends in the investment industry over the year.
General changes in the advice market were highlighted by Standard Life’s Steve Murray in a video interview with Investment Adviser’s Ellie Duncan, while Standard Life’s incursion into the advice market was seen as a “real vote of confidence in the advice sector” in February.
Liquidity among different asset classes was also a key factor for many investors, particularly within fixed income, but also in the much larger funds such as SLI’s Global Absolute Return Strategies (Gars).
In recent months, however, one of the biggest stories has been the shake-up of the Investment Association, including the departure of chief executive Daniel Godfrey, after some member firms expressed concerns and plans to quit over the direction of the trade body.
This week, however, it was confirmed that M&G and Schroders have extended their membership of the association for a further six month, with St James Place currently the only firm to have left the Investment Association, as part of its wider plan to resign all its memberships of trade bodies.
Looking ahead it seems that 2016 is likely to be just as eventful, with a US election set for the end of the year, further rate rises expected in the US and possibly a first move by the Bank of England, and continued monitoring of China’s economy.
Uncertainty remains the key watchword, and macroeconomic and geopolitical factors look set to play just as big a part as this year.
Investment Adviser’s Top 10 Most Read Stories Online
1. Jupiter hands over Global Managed fund
2. SJP quits Investment Association and other trade bodies
3. Bond funds may face huge losses amid liquidity crisis
4. John Lappin: Aviva fires warning shot across bows of vulnerable Sesame
5. Ratings firm backs up brutal honesty threat in Gars review
6. Video: Standard Life: ‘Advice market is under capacity
7. Half of DFM portfolios failing to add value: report
8. Special Report - Pensions and Tax - July 2015
9. Special Report - Property - May 2015
10. Spotlight on Gars and Real Return after summer wobble
