Welcome to the latest update for The Brunner Investment Trust PLC from the trust's portfolio manager Lucy Macdonald.
Global equities ratcheted higher throughout February, buoyed by optimism about global growth and corporate earnings. All regions advanced, although Japan tended to lag many other markets. In sector terms, healthcare, information technology, consumer staples and utilities rallied the most, while energy and materials retreated slightly.
Yields on global bonds fell over February. German bond yields experienced some of the largest declines as rising eurozone political risk increased demand for safe haven assets. Signs that the UK economy may be slowing also pushed UK gilt yields lower. However, the drop in yields was more modest in the US and Japan. Corporate bonds, especially high-yield debt, tended to outperform government securities…