Why capital preservation matters more than ever
Today’s markets are shaped by forces that feel both familiar and unsettling. Equity indices, particularly in the United States, have become ever more concentrated in a narrow group of companies.
5 minsSpecial Paper No.13 – Private credit: canary in the coal mine?
Over the past two decades, a growing share of corporate ownership and financing has moved outside public markets, beyond the daily visibility of exchange prices and regulatory scrutiny. In the 1990s there were over 8,000 US-listed companies; today there are roughly 4,000.
11 minsMulti-Asset Strategy Insights – Dynamic Asset Allocation
Troy’s Multi-Asset Strategy seeks to protect our investors’ capital and increase its value over the long term.
13 minsQuarterly Report Q1 2025
As events unfold, it can be difficult to parse out what will make it into the history books and what will be consigned to the ash heap. Only with the benefit of time do things become clear and sometimes, even with the benefit of centuries, it can be ‘too early to say’.
10 minsQuarterly Report Q4 2024
The late, great Paul Volcker, the towering former Federal Reserve chair, said in 2009 that “the ATM has been the only useful innovation in banking for the past 20 years”. As the Investment Manager of Personal Assets Trust ‘PAT’, we agree with the sentiment that most complex investment bank products are not good for customers.
9 minsMulti-Asset Insights – Equity
Troy’s Multi-Asset Strategy seeks to protect our investors’ capital and increase its value over the long term.
15 mins