Look beyond familiar stockmarkets for reliable returns in rough times

A professional investor tells us where he’d put his money. This week: Giles Parkinson, managing director of global funds at Close Brothers Asset Management.

gold ingots and coins
(Image credit: Getty Images)

The Close Portfolio Conservative, Balanced and Growth fund range seeks to achieve resilient returns over the long term through a company-led approach to investing in a multi-asset context. It acquires “cheap durables”: direct interests in predictable businesses purchased at attractive cash-based valuations that will appreciate and repay their debts.

The current economic backdrop requires a careful application of this long-term approach in the short run. Inflation has reached levels not seen for a generation and central banks responded last year by increasing interest rates.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Nic studied for a BA in journalism at Cardiff University, and has an MA in magazine journalism from City University. She has previously worked for MoneyWeek.