OVER the last few years, I have often written about the over-valuation of many assets and the challenges that investors faced over sourcing sustainable investment income.
Years of financial repression from central banks and far too much “loose money” chasing too few assets made income hunting for investors in most asset classes barren. What investors really needed was a “clearing of the decks”, a fall in asset values and an increase in yields to ease the negative side effects of the manipulations created by the zero-interest rate world that we lived in.
Fast forward three months and we live in a very different world; on that point I am sure we can all agree. The only element that seems to have remained constant in a world that is barely recognisable from just the start of this year is the fact that it remains extremely tough for investors to find an attractive and sustainable income stream.
In fact, it has got even harder. Markets have fallen, UK equities have…