Head Office James Brearley PO Box 34 pole House Us 2, Burtee Road Blackpool Y4 T 01772 318 760 nquityaybrearley.ca.k INVESTMENT MANAGERS & STOCKBROKERS ESTABLISHED 1919 1919-2019 CELEBRATING A CENTURY OF EXPERIENCE www.breariey.co. or lower over the net 12 month But having accepted a degree of risk to y capital what level of return should you epect to recelve Wecleafrom neviewing toric recods that stock market seturns over which is tkely to be lower market neturns than we hve seen previously Howiver this backdrop in our opinion is not one to d and boring can translate oteady and acoeptable relative etrns Syou ane pepared to take some We asked James Brearley's CEO, David Hannis, if now is a good time to invest and what returns should investors expect from a managed investment portfolio over the medium term? with your capital in seasch of overal etus of 5%plas over the coming to cod part of youar sings Those of our clients that choue to do so 5 years gwhen we were soll coming out of the GobaFinanoal Cs at which poin in tme we had a whole set of dferent uncertainte can now look back on this time as providing soldetuns over and above cash depouits a can be seen fro the table below the medium tema diectly invenced Thisis paiculany tue when compared now may te an e with what cash is lkely to netum over hemedum to long term, whene inenest ates are ely to emain low for some considerable time to come Thee is one current school of thought that suggnts th es my well have alady peaked and that we can expect the Bank of England base rate to tum back to 0.5% by corponate proft growth, which in turn re aided by a buoynt economy and tha this will typically come hand in hand with modetnfation The world we live in today s one where wefeel economic growth will be lited inaion is kely to emain low and as uchso will inteest es the result of At the time of writing this arcle, we ae faced with the frst December held General Dection in 96 yean the result of which will have a large infuence on B the US tde war with China sin lswing and thene are genuine concenns over the heath of the global economy These factors all crete a backdrop of geat uncetainty which has resued in equity markets at best treading water over the ast si months Over ts same period henet decade you will see trom t eample thu s coud be by as much as soand an equity holder would sll be better of overal than the investor in UK the current return before any penonal tax consideions offered by 10 year sock is approximately 72o based on a C10,000 initial investment this equates to a tota retun of 7.2% over 10 years or rouly 0% per anm dource Financial Tmes Given that Consumer Price Infation CP cunty andh ataste of 1.% for the lst 12nth aving varied between J 02% and 2%over the last S year theld for the ful 10 year term the net of infason retum fro the UKgovemment stock is ely to translate to an overal eal los goemme stock Performance to 30h September, 2019 This leads us to believe that despite today's known uncertainties as detailed earlier there continues to be a strong case for stockmarket based investments for those prepared to take some risk with an element of their savings Perlomance 3/02018 201 30/02016 130/02014 t 00/201 Strategy 30/0019 High dod investors in funds such as unit sts and N0 sConeatv Mode Fotolio Soa Retun open ended invesmentcompanies loec ave been reducing ther esponne so equity makets particlarly the UK with monies edected to considened e Del Mode Fotol oat Cautious Mode Fontlo nce Mdel ro l Dynamc Mode atlo at over this period s 424 incontrast wee the ame 000 | 4 Asta highik stategy to simply dtody and split equaly ino high 4 baven sharm (eguites uch an the eof Leg&Geeal Loyds Banking Goup BorGao Smiine then the lly level of dvidends distributed over the nest 10 yeas would be around baome of the gtmaketingeneal soe Factset assuming no was their lowest etums for the lat 5 years deterioration in their abilty to maintain their urent dividend and before any any ik with their inestment capital at persontaconsideations So even shae prices were to fall considerably over such as UK government stocks The of ss th geemment stock prices have been diven sp and at one point in labe September the return offered by 10 year sock often used as a int into asingle shane or even type 4 230 inment wthin our vestment Management Service we diventy n byspreading ourclents monies acros bodneofanerent aoets This is vsble fom the table below whene we ho the cunt asset ms of our inment stegies Here the greater the uty epose the higher the overal level oktoan invetor's capital and vice ven This article is not and should not be coed onoffer to sell or soliation ofon offer to buy any securities This article as been peped with all easonoble c he bess ofpuby aveloble Wewill be more bnappy to nevew your mation and oc a ed to beeobe Athough the mode ifyou have portolo this period or sed another Investment fem and ane not too happy with the eturr t you have achieved thenplese do no hesitane to contactus ees hve only been asplied to portfolies mhe stt of2018 Prito th no run your own investment management Ss were included in the cone Sofor an investor not wishing to take pefomance coloulenion The retarms ehieved by a clent may be lower than the etun howe in th aricle by investing in UKgovemment stock existing portlolo and compare to your oelos deepsenonive ofaclienr individual portfolio the asser allocation ofandthe vesting ock mrter-besed inwestments may not be right or all invtor Nou should comsider canefuly investment objectives and general attitude to rk and peovide some feedback on what action you may wish to conidet Snply us on 01772 318760 oremal us a Asset Allocation as at 30h September 201 e investments held in a clents individ portolo may dife Tonal neturn perforance has by odding in the projected income bom andor sek professienal guidence befon that a Ae Class Migh Yield Conservative Defensive Ctios anced Dynamic enquiryrearleyeuk We do not mkea charge for either an investing Plese reender o Performance dote guoted baed on past event ond past perfomance shoutnotbe senas aguide future peoance The val of on invementand any income from onesweeedtof market and oency movement and youmw net gt bock the amount originoly inveted ou could grt bock nothing of at James eryae ouhd and egled by theFinancial ConducTAuthority FCA FCA been calcula Cash nds&fied e 30% 20% 10% inil assement norfor a re-invested 23 so 20 % on your poe ysacions e other pestons beng on y basis as part ofa genea -balance ece Any this all being couered by our annual management charge For moe infomation about our investment 20% 145 formation shown epresents poos whih anperodcally wtructured andor ebolanced Athough the model portalios ore represmtative of aclenrs individalportol the actal wues may vary Som the model portfolio eturna shown In addition, managemenme Utty 373% 250% Mangement Servicoe please vitou webibe at wwwpealey.couk neional qity Sp tty Teal 50% 185% 223 4% 75% We are here to help both in the planning and enjoyment of your retirement 190% 100% elce Number r8921 Head Office James Brearley PO Box 34 pole House Us 2, Burtee Road Blackpool Y4 T 01772 318 760 nquityaybrearley.ca.k INVESTMENT MANAGERS & STOCKBROKERS ESTABLISHED 1919 1919-2019 CELEBRATING A CENTURY OF EXPERIENCE www.breariey.co. or lower over the net 12 month But having accepted a degree of risk to y capital what level of return should you epect to recelve Wecleafrom neviewing toric recods that stock market seturns over which is tkely to be lower market neturns than we hve seen previously Howiver this backdrop in our opinion is not one to d and boring can translate oteady and acoeptable relative etrns Syou ane pepared to take some We asked James Brearley's CEO, David Hannis, if now is a good time to invest and what returns should investors expect from a managed investment portfolio over the medium term? with your capital in seasch of overal etus of 5%plas over the coming to cod part of youar sings Those of our clients that choue to do so 5 years gwhen we were soll coming out of the GobaFinanoal Cs at which poin in tme we had a whole set of dferent uncertainte can now look back on this time as providing soldetuns over and above cash depouits a can be seen fro the table below the medium tema diectly invenced Thisis paiculany tue when compared now may te an e with what cash is lkely to netum over hemedum to long term, whene inenest ates are ely to emain low for some considerable time to come Thee is one current school of thought that suggnts th es my well have alady peaked and that we can expect the Bank of England base rate to tum back to 0.5% by corponate proft growth, which in turn re aided by a buoynt economy and tha this will typically come hand in hand with modetnfation The world we live in today s one where wefeel economic growth will be lited inaion is kely to emain low and as uchso will inteest es the result of At the time of writing this arcle, we ae faced with the frst December held General Dection in 96 yean the result of which will have a large infuence on B the US tde war with China sin lswing and thene are genuine concenns over the heath of the global economy These factors all crete a backdrop of geat uncetainty which has resued in equity markets at best treading water over the ast si months Over ts same period henet decade you will see trom t eample thu s coud be by as much as soand an equity holder would sll be better of overal than the investor in UK the current return before any penonal tax consideions offered by 10 year sock is approximately 72o based on a C10,000 initial investment this equates to a tota retun of 7.2% over 10 years or rouly 0% per anm dource Financial Tmes Given that Consumer Price Infation CP cunty andh ataste of 1.% for the lst 12nth aving varied between J 02% and 2%over the last S year theld for the ful 10 year term the net of infason retum fro the UKgovemment stock is ely to translate to an overal eal los goemme stock Performance to 30h September, 2019 This leads us to believe that despite today's known uncertainties as detailed earlier there continues to be a strong case for stockmarket based investments for those prepared to take some risk with an element of their savings Perlomance 3/02018 201 30/02016 130/02014 t 00/201 Strategy 30/0019 High dod investors in funds such as unit sts and N0 sConeatv Mode Fotolio Soa Retun open ended invesmentcompanies loec ave been reducing ther esponne so equity makets particlarly the UK with monies edected to considened e Del Mode Fotol oat Cautious Mode Fontlo nce Mdel ro l Dynamc Mode atlo at over this period s 424 incontrast wee the ame 000 | 4 Asta highik stategy to simply dtody and split equaly ino high 4 baven sharm (eguites uch an the eof Leg&Geeal Loyds Banking Goup BorGao Smiine then the lly level of dvidends distributed over the nest 10 yeas would be around baome of the gtmaketingeneal soe Factset assuming no was their lowest etums for the lat 5 years deterioration in their abilty to maintain their urent dividend and before any any ik with their inestment capital at persontaconsideations So even shae prices were to fall considerably over such as UK government stocks The of ss th geemment stock prices have been diven sp and at one point in labe September the return offered by 10 year sock often used as a int into asingle shane or even type 4 230 inment wthin our vestment Management Service we diventy n byspreading ourclents monies acros bodneofanerent aoets This is vsble fom the table below whene we ho the cunt asset ms of our inment stegies Here the greater the uty epose the higher the overal level oktoan invetor's capital and vice ven This article is not and should not be coed onoffer to sell or soliation ofon offer to buy any securities This article as been peped with all easonoble c he bess ofpuby aveloble Wewill be more bnappy to nevew your mation and oc a ed to beeobe Athough the mode ifyou have portolo this period or sed another Investment fem and ane not too happy with the eturr t you have achieved thenplese do no hesitane to contactus ees hve only been asplied to portfolies mhe stt of2018 Prito th no run your own investment management Ss were included in the cone Sofor an investor not wishing to take pefomance coloulenion The retarms ehieved by a clent may be lower than the etun howe in th aricle by investing in UKgovemment stock existing portlolo and compare to your oelos deepsenonive ofaclienr individual portfolio the asser allocation ofandthe vesting ock mrter-besed inwestments may not be right or all invtor Nou should comsider canefuly investment objectives and general attitude to rk and peovide some feedback on what action you may wish to conidet Snply us on 01772 318760 oremal us a Asset Allocation as at 30h September 201 e investments held in a clents individ portolo may dife Tonal neturn perforance has by odding in the projected income bom andor sek professienal guidence befon that a Ae Class Migh Yield Conservative Defensive Ctios anced Dynamic enquiryrearleyeuk We do not mkea charge for either an investing Plese reender o Performance dote guoted baed on past event ond past perfomance shoutnotbe senas aguide future peoance The val of on invementand any income from onesweeedtof market and oency movement and youmw net gt bock the amount originoly inveted ou could grt bock nothing of at James eryae ouhd and egled by theFinancial ConducTAuthority FCA FCA been calcula Cash nds&fied e 30% 20% 10% inil assement norfor a re-invested 23 so 20 % on your poe ysacions e other pestons beng on y basis as part ofa genea -balance ece Any this all being couered by our annual management charge For moe infomation about our investment 20% 145 formation shown epresents poos whih anperodcally wtructured andor ebolanced Athough the model portalios ore represmtative of aclenrs individalportol the actal wues may vary Som the model portfolio eturna shown In addition, managemenme Utty 373% 250% Mangement Servicoe please vitou webibe at wwwpealey.couk neional qity Sp tty Teal 50% 185% 223 4% 75% We are here to help both in the planning and enjoyment of your retirement 190% 100% elce Number r8921