Hello,

 

Throughout last week we saw the results of the previous week’s European Parliament Elections filter through. In a surprising development, French President Emanuel Macron called a snap parliamentary election in his home country, in response to losing ground to opponents to the right of his centrist alliance. The CAC 40 has fallen sharply since the announcement, with heightened uncertainty in Europe.

 

Much has been written in the last number of weeks discussing 2024 being the year of elections. And last week displays just one example of the uncertainty these developments can confront investors with. Fiscal responsibility, tax regimes, trade policies, and geopolitical tensions all directly influence markets. However, it is important for investors to remain disciplined when faced with these kinds of uncertainty. Following a set of investment principles and remaining invested over the long term is beneficial. Research shows had an investor missed just the best 10 days in the market from 1994-2023, investment returns would have been ~54% lower.

 

As always, if you wish to discuss anything in further detail, please do get in touch.