and other comparators during the first half of 2023 and since inception. % total return 1 st jan to 30 th june 2023 inception to 30 th june 2023 cumulative annualised fundsmith equity fund 1 +8.5 +527.1 +15.6 equities 2 +8.9 +288.5 +11.3 uk bonds 3 -3.4 +15.7 +1.2 cash 4 +2.0 ...
inflation. inflation, rising interest rates and an increasingly likely recession have two obvious effects on equity investments; fundamental effects and valuation effects. i will try to address each of these in turn as i review the performance of some of our holdings. inflation causes an increase ...