The Russian intent with respect to Ukraine now appears reasonably clear: to bring the whole country back within the Russian sphere of influence.

Despite the over-arching pessimism we see the foundations for a recovery in markets in 2023 and believe the prospects ahead are more promising than for some time.

In a year of momentous events the past few days will surely go down as one of the most tumultuous periods.

With China now the largest economy in the world (on a PPP measure1) and the primary engine of global growth, investors need to think hard about how to gain exposure within global portfolios.

It is extraordinary that within 12 months of the world slumping into its steepest and deepest recession since WWII we are asking the question ‘when will the economy be too hot?’

After years of sustained poor performance, both in absolute terms and relative to global equities, the UK is poised for a revival and presents an excellent opportunity for investors.

Here is where having a heritage in Multi-Asset, a well-resourced investment team and a differentiated investment style brings Momentum’s portfolios into their own.