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Christmas wish lists: four wealth managers' letters to Santa

We ask four wealth managers what they would like to find in their Christmas stockings this year.

Richard Parfect, fund manager, Seneca IM, Liverpool

We tend to tell our children to wait patiently for Santa to arrive, but also know that a little instant gratification doesn’t go amiss. AEW UK Reit offers a prospective 8% dividend yield and the possibility of some capital growth over time. The company’s portfolio consists of small lot size properties, (typically sub £10 million), 75% of which are outside the South East.

The high dividend should be fully covered going forward, due to a falling vacancy rate within the portfolio. The value-oriented, active asset management strategy focuses on rental income and capital value security, either in terms of identifying alternative uses for properties, or strength of the tenant’s relationship with the location.

The Reit was only launched in May 2015, but in this short time the management team has demonstrated a successful strategy with respect to purchasing, asset turnaround and selective disposals of properties, all of which are pre-requisites for a successful property investment story.

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Richard Parfect, fund manager, Seneca IM, Liverpool

We tend to tell our children to wait patiently for Santa to arrive, but also know that a little instant gratification doesn’t go amiss. AEW UK Reit offers a prospective 8% dividend yield and the possibility of some capital growth over time. The company’s portfolio consists of small lot size properties, (typically sub £10 million), 75% of which are outside the South East.

The high dividend should be fully covered going forward, due to a falling vacancy rate within the portfolio. The value-oriented, active asset management strategy focuses on rental income and capital value security, either in terms of identifying alternative uses for properties, or strength of the tenant’s relationship with the location.

The Reit was only launched in May 2015, but in this short time the management team has demonstrated a successful strategy with respect to purchasing, asset turnaround and selective disposals of properties, all of which are pre-requisites for a successful property investment story.

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Fahad Kamal, senior market strategist, Kleinwort Hambros, London

The top thing on my Christmas list is an all-time high for global equities! As of the December 15, the index is 1.1% away! I’ve really, really wanted this and I think I deserve it because I’ve been ever-so-good all year!

And by good, I mean I stuck to my guns, believed in my time-tested investment process – based on valuation, momentum and sentiment – and was not 'scared off ' by all the noise in this most cacophonous of years! Needless to say, with global equites up 7% year-to-date – and up 22% from 2016 lows – it should not be too much of a stretch for good old Santa Claus!

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Katie Tasker, investment manager, Charles Stanley, London

This year, I have written to Father Christmas for a considered, competent but prompt Brexit strategy (and some diamonds if possible). We approach 2017 with clouds of uncertainty over our heads, not yet knowing the Brexit terms or when they will be unveiled. Bottom of Mr Market’s Christmas list is uncertainty.

The Supreme Court is just one of the road blocks retarding the country’s desire to leave the EU and until there is a clear timetable and detailed plan, the UK may struggle to progress.

Business may not be inclined to commit investment until we see a clearer path to independence. The Fed’s announcement last week that we can expect perhaps three rate rises next year may put further pressure on our currency and with President Elect Trump making very pro-business noises, I fear that we may prove slow off the mark if we do not mobilise ourselves properly and soon.

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Michael Stanes, investment director, Heartwood Investment Management, London

1. The ‘Trump trade’ may have delivered equity investors with an early Christmas present, but we now need to see fundamentals catching up with reality. Trump needs to get ahead of the game, implementing a plan of fiscal expansion in the first half of 2017, which will help to deliver on those expectations for higher growth and improving corporate profitability.

2. More clarity around Brexit please. We also need to see UK and European politicians showing pragmatism in their approach to negotiations. Political populism remains a key risk for financial markets and we will feel more reassured as we see politicians promoting policies that balance the justifiable concerns of electorates with fiscal responsibility and regimes supportive to business.

3. China’s effective management of cooling overheating sectors of the economy, such as property, without damaging broader growth. Financial stability in China remains a key risk for the global economy, given rising corporate leverage and a strengthening US dollar.

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