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In a decade where quality and growth have been the investment of choice is value making a comeback?

March 31, 2021

Asset TV

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Freddie Lait discusses Latitude’s investment strategy and looking for long-term value in a tumultuous market

October 9, 2020

Proactive Investors

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Freddie Lait discusses the potential upside for stocks if lockdown restrictions ease

September 25, 2020

CNBC

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Freddie Lait shares his views on current markets and where they could go from here

July 6, 2020

Bloomberg

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Index funds are a 'naïve' way to invest capital, Latitude CIO says

August 30, 2019

Bloomberg

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UK assets are very attractive for long-term investors

August 22, 2019

CNBC

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Latitude’s CIO likes Tesco, Unilever, consumer stocks

August 19, 2019

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There’s a lot of value in equities versus bonds, says Latitude’s Lait

August 8, 2019

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Freddie Lait discusses the Fed’s next move and being positioned for US $ weakness

June 19, 2019

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Freddie Lait discusses the importance of the Fed over US/China trade war

May 22, 2019

CNBC

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Why Tesco will do best after Brexit

March 14, 2019

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Markets don’t have much higher to go, says Latitude’s Lait

February 26, 2019

Bloomberg TV

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Lloyds your best bet in a struggling UK banking market, Latitude CIO says

February 20, 2019

CNBC

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Tesla will likely get bought by a tech company, Latitude CIO says

February 20, 2019

CNBC

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US banks are 'fantastically well-positioned', Latitude CIO says

January 16, 2019

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Further smartphone innovation and telco consolidation

November 28, 2018

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US banks are 10 to 15 years ahead of their European counterparts

July 9, 2018

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A fund for investors worried the bull market is over

May 9, 2018

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Why Tesco has a fantastic few years ahead of it

May 9, 2018

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Latitude CIO Lait favours Alphabet over Facebook

March 21, 2018

Bloomberg TV

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Recent correction may be sign of things to come

March 8, 2018

CNBC

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Freddie Lait discusses equities and asset allocation in current market conditions

February 9, 2018

Bloomberg TV

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Latitude Horizon fund manager Freddie Lait picks three global growth stocks

November 28, 2017

Morningstar

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Freddie Lait of Latitude warns that this crash could be different

November 27, 2017

Morningstar

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Latitude's Lait says should be investing in stocks

October 18, 2017

Bloomberg TV

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Latitude's Lait sees political risk as diminished worry

September 29, 2017

Bloomberg TV

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Latitude's Lait says Fed is key driver of markets

August 14, 2017

Bloomberg TV

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Freddie Lait discusses his outlook for the US dollar

March 27, 2017

Bloomberg TV

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Freddie Lait discusses Japan's trade data & what it means for investors and the economy

February 20, 2017

Bloomberg TV

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Latitude’s Lait says we’re long US banks

February 20, 2017

Bloomberg TV

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Freddie Lait discusses the 'Turbo-Charged' global bond proxy trade

December 19, 2016

Bloomberg TV

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see more

Index funds are a 'naïve' way to invest capital, Latitude CIO says

August 30, 2019

Bloomberg

Read more

UK assets are very attractive for long-term investors

August 22, 2019

CNBC

Read more

Latitude’s CIO likes Tesco, Unilever, consumer stocks

August 19, 2019

Bloomberg TV

Read more

There’s a lot of value in equities versus bonds, says Latitude’s Lait

August 8, 2019

Bloomberg TV

Read more

Freddie Lait discusses the Fed’s next move and being positioned for US $ weakness

June 19, 2019

Bloomberg TV

Read more

Freddie Lait discusses the importance of the Fed over US/China trade war

May 22, 2019

CNBC

Read more

Why Tesco will do best after Brexit

March 14, 2019

Interactive Investor

Read more

Markets don’t have much higher to go, says Latitude’s Lait

February 26, 2019

Bloomberg TV

Read more

Lloyds your best bet in a struggling UK banking market, Latitude CIO says

February 20, 2019

CNBC

Read more

Tesla will likely get bought by a tech company, Latitude CIO says

February 20, 2019

CNBC

Read more

US banks are 'fantastically well-positioned', Latitude CIO says

January 16, 2019

Bloomberg TV

Read more

Further smartphone innovation and telco consolidation

November 28, 2018

CNBC

Read more

US banks are 10 to 15 years ahead of their European counterparts

July 9, 2018

CNBC

Read more

A fund for investors worried the bull market is over

May 9, 2018

Interactive Investor

Read more

Why Tesco has a fantastic few years ahead of it

May 9, 2018

Interactive Investor

Read more

Latitude CIO Lait favours Alphabet over Facebook

March 21, 2018

Bloomberg TV

Read more

Recent correction may be sign of things to come

March 8, 2018

CNBC

Read more

Freddie Lait discusses equities and asset allocation in current market conditions

February 9, 2018

Bloomberg TV

Read more

Latitude Horizon fund manager Freddie Lait picks three global growth stocks

November 28, 2017

Morningstar

Read more

Freddie Lait of Latitude warns that this crash could be different

November 27, 2017

Morningstar

Read more

Latitude's Lait says should be investing in stocks

October 18, 2017

Bloomberg TV

Read more

Latitude's Lait sees political risk as diminished worry

September 29, 2017

Bloomberg TV

Read more

Latitude's Lait says Fed is key driver of markets

August 14, 2017

Bloomberg TV

Read more

Freddie Lait discusses his outlook for the US dollar

March 27, 2017

Bloomberg TV

Read more

Freddie Lait discusses Japan's trade data & what it means for investors and the economy

February 20, 2017

Bloomberg TV

Read more

Latitude’s Lait says we’re long US banks

February 20, 2017

Bloomberg TV

Read more

Freddie Lait discusses the 'Turbo-Charged' global bond proxy trade

December 19, 2016

Bloomberg TV

Read more

Freddie Lait writes for Investment Week on the merits of a traditional approach to Absolute Return investing

April 26, 2021

Investment Week

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Latitude IM launches a second fund to be run by CIO Freddie Lait

March 18, 2021

Portfolio Adviser

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Latitude launches its second fund, a high conviction, long-term global equity portfolio

March 16, 2021

Citywire

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US banks double for cautious Trojan rival Latitude Horizon

February 22, 2021

Citywire

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Freddie Lait discusses his decision to sell gold and takes advantage of 2020’s short-sighted market

December 21, 2020

Investment Week

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Freddie Lait discusses the greatest risk facing investors in 2021 with Kristen McGachey

December 7, 2020

Portfolio Adviser

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Freddie Lait is cautiously optimistic for 2021 as Europe begins to reopen

June 23, 2020

CNBC

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Freddie Lait comments on illiquidity mispricing across assets classes

February 17, 2020

Financial Post

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Freddie Lait comments on Unilever’s growth strategy

January 29, 2020

Reuters

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Freddie Lait talks to Lee Wild about his thoughts on the UK market as we head into 2020

January 15, 2020

Interactive Investor

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Absolute return fund manager Freddie Lait exits 12% gold position in portfolio

November 13, 2019

Citywire

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Freddie Lait comments on the management overhaul as Chairman and CEO step down at Imperial Brands

October 3, 2019

Telegraph

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A focus on the Absolute Return sector; Freddie Lait comments on why he thinks the sector should be split in two

July 25, 2019

Citywire

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Freddie Lait discusses the bull and bear case for the UK market and the opportunity for patient investors

May 28, 2019

Investment Week

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Freddie Lait comments on Sony’s cautious outlook for the year ahead

April 26, 2019

Bloomberg

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Should investors be buying Gold?

December 6, 2018

Morningstar

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Freddie Lait discusses his decision to sell gold and takes advantage of 2020’s short-sighted market

December 21, 2020

Investment Week

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Freddie Lait discusses the greatest risk facing investors in 2021 with Kristen McGachey

December 7, 2020

Portfolio Adviser

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Freddie Lait is cautiously optimistic for 2021 as Europe begins to reopen

June 23, 2020

CNBC

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Freddie Lait comments on illiquidity mispricing across assets classes

February 17, 2020

Financial Post

Read more

Freddie Lait comments on Unilever’s growth strategy

January 29, 2020

Reuters

Read more

Freddie Lait talks to Lee Wild about his thoughts on the UK market as we head into 2020

January 15, 2020

Interactive Investor

Read more

Absolute return fund manager Freddie Lait exits 12% gold position in portfolio

November 13, 2019

Citywire

Read more

Freddie Lait comments on the management overhaul as Chairman and CEO step down at Imperial Brands

October 3, 2019

Telegraph

Read more

A focus on the Absolute Return sector; Freddie Lait comments on why he thinks the sector should be split in two

July 25, 2019

Citywire

Read more

Freddie Lait discusses the bull and bear case for the UK market and the opportunity for patient investors

May 28, 2019

Investment Week

Read more

Freddie Lait comments on Sony’s cautious outlook for the year ahead

April 26, 2019

Bloomberg

Read more

Should investors be buying Gold?

December 6, 2018

Morningstar

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01 February 2020 Commentary

The coronavirus was a highly unpredictable event, yet investors always knew that something would cause a recession to interrupt the present bull market. Since late 2018 there have been a number of warning signs including: the Fed overtightening of interest rates, the yield curve inverting, and the New York Fed Probability of Recession Model, which has been right each time since 1968.

Economic and earnings forecasts, which are of little use at the best of times, are hopeless at present while the cloud of uncertainty is heaviest. Financial markets are the best predictors of recession, in large part due to their reflexive nature. As they fall investors and consumers lose confidence, making a recession ever more likely, leading markets to potentially fall further. It is this confidence spiral which needs to end in order for markets to find a floor – either through policy intervention (by directly addressing the virus, or financial markets to a lesser extent), or through stocks falling further and finding a clearing price

Despite the fall, equities are still expensive compared to historic levels while, concurrently, they are incredibly attractive compared to most alternatives. This gap between the fair value implied by historic valuations (10-20% lower) and the fair value justified by a lower opportunity cost from owning cash or bonds (c.50% higher) is an ever widening no man’s land filled with fog. It is our view that markets are likely to fall lower towards their historic valuations until such time as clarity prevails, when the upper bounds of possibility will reassert themselves. As a result we trimmed our equity allocation and increased our cash holding recently, and will be looking for further market weakness as an opportunity to initiate new positions.

Bond yields are now effectively zero across the world and, even if earnings fall 20%, stock markets will have an earnings yield of 5% at today’s prices. These earnings are implicitly inflation protected and will grow through time, at least in line with GDP. Many individual stocks which are potential investments for the Horizon Fund are already more attractively valued and offer higher potential growth.

The stock market is alive with opportunities, and it is the only remaining asset class with a long term positive expected return. In 2020 investors need to decide when, not if, to reallocate some of their portfolios to equities.

NB Markets are moving fast and stock markets have fallen again in March. To the 9th March the FTSE World Index (£) has fallen -9% and the fund is down -2%.

Fact Sheet

Key info

Tom Allison
Head of Private Credit
AIG Investments

Georgina Cadbury
Chairman
James Alpha Holdings, LLC

Jonathan Elkington
Head of Equities
Goldman Sachs LLP

Max Lami
Head of Options
Merill Lynch NYC

Gordon Moore

William Noortman

Crispin Odey

Waleed Saigol

Jonathan Summers

Jane Tufnell

Hugo van Vredenburch

Suzi Williams

In The News

Latitude launches its second fund, a high conviction, long-term global equity portfolio

March 16, 2021

Citywire

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US banks double for cautious Trojan rival Latitude Horizon

February 22, 2021

Citywire

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Freddie Lait discusses his decision to sell gold and takes advantage of 2020’s short-sighted market

December 21, 2020

Investment Week

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Freddie Lait discusses the greatest risk facing investors in 2021 with Kristen McGachey

December 7, 2020

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Freddie Lait is cautiously optimistic for 2021 as Europe begins to reopen

June 23, 2020

CNBC

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Freddie Lait comments on illiquidity mispricing across assets classes

February 17, 2020

Financial Post

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Freddie Lait comments on Unilever’s growth strategy

January 29, 2020

Reuters

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Freddie Lait talks to Lee Wild about his thoughts on the UK market as we head into 2020

January 15, 2020

Interactive Investor

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Absolute return fund manager Freddie Lait exits 12% gold position in portfolio

November 13, 2019

Citywire

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Freddie Lait comments on the management overhaul as Chairman and CEO step down at Imperial Brands

October 3, 2019

Telegraph

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A focus on the Absolute Return sector; Freddie Lait comments on why he thinks the sector should be split in two

July 25, 2019

Citywire

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Freddie Lait discusses the bull and bear case for the UK market and the opportunity for patient investors

May 28, 2019

Investment Week

Read more

Freddie Lait comments on Sony’s cautious outlook for the year ahead

April 26, 2019

Bloomberg

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Should investors be buying Gold?

December 6, 2018

Morningstar

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TV Inteviews

Freddie Lait discusses the potential upside for stocks if lockdown restrictions ease

September 25, 2020

CNBC

Read more

Freddie Lait shares his views on current markets and where they could go from here

July 6, 2020

Bloomberg

Read more

see more

Index funds are a 'naïve' way to invest capital, Latitude CIO says

August 30, 2019

Bloomberg

Read more

UK assets are very attractive for long-term investors

August 22, 2019

CNBC

Read more

Latitude’s CIO likes Tesco, Unilever, consumer stocks

August 19, 2019

Bloomberg TV

Read more

There’s a lot of value in equities versus bonds, says Latitude’s Lait

August 8, 2019

Bloomberg TV

Read more

Freddie Lait discusses the Fed’s next move and being positioned for US $ weakness

June 19, 2019

Bloomberg TV

Read more

Freddie Lait discusses the importance of the Fed over US/China trade war

May 22, 2019

CNBC

Read more

Why Tesco will do best after Brexit

March 14, 2019

Interactive Investor

Read more

Markets don’t have much higher to go, says Latitude’s Lait

February 26, 2019

Bloomberg TV

Read more

Lloyds your best bet in a struggling UK banking market, Latitude CIO says

February 20, 2019

CNBC

Read more

Tesla will likely get bought by a tech company, Latitude CIO says

February 20, 2019

CNBC

Read more

US banks are 'fantastically well-positioned', Latitude CIO says

January 16, 2019

Bloomberg TV

Read more

Further smartphone innovation and telco consolidation

November 28, 2018

CNBC

Read more

US banks are 10 to 15 years ahead of their European counterparts

July 9, 2018

CNBC

Read more

A fund for investors worried the bull market is over

May 9, 2018

Interactive Investor

Read more

Why Tesco has a fantastic few years ahead of it

May 9, 2018

Interactive Investor

Read more

Latitude CIO Lait favours Alphabet over Facebook

March 21, 2018

Bloomberg TV

Read more

Recent correction may be sign of things to come

March 8, 2018

CNBC

Read more

Freddie Lait discusses equities and asset allocation in current market conditions

February 9, 2018

Bloomberg TV

Read more

Latitude Horizon fund manager Freddie Lait picks three global growth stocks

November 28, 2017

Morningstar

Read more

Freddie Lait of Latitude warns that this crash could be different

November 27, 2017

Morningstar

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Latitude's Lait says should be investing in stocks

October 18, 2017

Bloomberg TV

Read more

Latitude's Lait sees political risk as diminished worry

September 29, 2017

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Latitude's Lait says Fed is key driver of markets

August 14, 2017

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Freddie Lait discusses his outlook for the US dollar

March 27, 2017

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Freddie Lait discusses Japan's trade data & what it means for investors and the economy

February 20, 2017

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Read more

Latitude’s Lait says we’re long US banks

February 20, 2017

Bloomberg TV

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Freddie Lait discusses the 'Turbo-Charged' global bond proxy trade

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Press Releases

Latitude Investment Management Launches Global Fund

March 18, 2021

Latitude Investment Management, a boutique investment partnership, is pleased to announce the launch of its second fund, the Latitude Global Fund.

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Latitude Investment Management continues accelerated growth with two new hires

February 25, 2021

Latitude Investment Management continues accelerated growth with two new hires

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Latitude Investment Management adds new hires as the business grows

May 28, 2020

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Witan Investment Trust invests in Latitude Investment Management’s Global Long Only Equity Strategy

April 24, 2018

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Launch of Latitude Investment Management and The Latitude Horizon Fund: A new entrant in the Diversified Growth Fund sector

October 10, 2016

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12 Nov 2019

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4
June 2021

Freddie Lait writes for Investment Week on the merits of a traditional approach to Absolute Return investing

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June 2021

Latitude IM launches a second fund to be run by CIO Freddie Lait

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4
June 2021

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June 2021

US banks double for cautious Trojan rival Latitude Horizon

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June 2021

Freddie Lait discusses his decision to sell gold and takes advantage of 2020’s short-sighted market

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4
June 2021

Freddie Lait discusses the greatest risk facing investors in 2021 with Kristen McGachey

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June 2021

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June 2021

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June 2021

Freddie Lait comments on Unilever’s growth strategy

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4
June 2021

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June 2021

Absolute return fund manager Freddie Lait exits 12% gold position in portfolio

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4
June 2021

Freddie Lait comments on the management overhaul as Chairman and CEO step down at Imperial Brands

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4
June 2021

A focus on the Absolute Return sector; Freddie Lait comments on why he thinks the sector should be split in two

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4
June 2021

Freddie Lait discusses the bull and bear case for the UK market and the opportunity for patient investors

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4
June 2021

Freddie Lait comments on Sony’s cautious outlook for the year ahead

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June 2021

Should investors be buying Gold?

Morningstar