Hello All,

This is the third issue of the new LSMIF newsletter. Please share with your friends and family and message in the Discord to participate and share a story!

Current News and Affairs:

  • Persimmon warns new home sales may fall 40% on current trends; this is in response to the disastrous UK mini-budget and lenders raising rates accordingly
  • UK house prices suffer biggest fall in more than a decade! Interest rates bite back with Nationwide figures showing a greater than expected 1.1% drop in year to February
  • Andrew Bailey signals no pressing need for more rate rises! The markets expect rates to rise to 4.75% by the end of 2023, up from an expected peak of 4.25%, but Bailey, BoE Governor, thinks nothing in the data justifies this…
  • Chinese factory activity expands at fastest pace in more than a decade: This is an early signal of recovery following the zero-Covid reversal!
  • Shell exploring option of quitting Europe and moving to the US! This comes as executives attempt to close group’s valuation gap with US rivals
  • Aston Martin losses more than double to £495mn in 2022! The company still expects to generate cash later this year, expecting to reach its target £500mn adjusted profit by 2025
  • Mali’s Gold Output expected to fall in 2023
  • Stock Futures Rise as Investors Await Manufacturing Data: S&P 500 futures added 0.3% Wednesday. Contracts for tech-focused Nasdaq-100 gained 0.5%

Fund News:

  • SMIF and SouthEastern Hedge Fund competition submissions enter their last few days! Placing and progression within the competition will be included in the following week’s newsletter!
  • Rebalancing: We now turn our attention to our rebalancing event and next steps… Our Senior Analysts and Management Team have been looking at your reports and giving feedback so we hope to transition into the next stage seamlessly
  • Newsletter and Social Media Growth: The newsletter is growing steadily as well as the LinkedIn and Twitter account… again, if you don’t already, please navigate to our homepage and give the accounts a follow!

As always, thank you for your participation and attention.

Many Thanks,

LSMIF Management