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Fund Manager updates

Updates from co-managers James Mahon and Jeremy Wharton.

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Quarterly Tenax Fund Update - 2023

A video update for investment professionals, on our Tenax Absolute Return Strategies Fund, by Fund Managers, James Mahon and Jerry Wharton.

James Mahon speaks to FundCalibre about some deflationary forces that are starting to come through and why he thinks inflation could peak in the next few months.

James explains what the ‘yield curve’ can tell us about an economy’s health and why bonds that are due to mature in just a few years’ time are more attractive than those that have a long time to maturity.

Topics in this podcast also include: the dominant US dollar, extraordinary moves in the index-linked gilt market, the potential for very high returns from short-dated bonds, exploiting mispricing opportunities in volatile periods and Floating Rate Notes and their benefits for investors. 

To listen to the full podcast interview with FundCalibre's Darius McDermott, please click on the audio player link.

219. Currencies, corrections ... and inflation!

Listen to this episode from FundCalibre - Investing on the go on Spotify. James Mahon, co-manager of the SVS Church House Tenax Absolute Return Strategies fund, tells us about some deflationary forces that are starting to come through and why he thinks inflation could peak in the next few months.

Insights, news and opinion

Keep up to date and read our opinion on key investment topics for the Tenax Absolute Return Strategies Fund.

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Tenax Absolute Return Fund activity - November 2023

20th Nov 2023

Hopefully, this will be the last time that we show this chart for a while. Inflation has continued to moderate and UK inflation has moved much more in-line with international rates: Returning to Earth (right)...

Portfolio Activity

By James Mahon

Multi Asset market analysis - October 2023

25th Oct 2023

October saw a number of chickens coming home to roost in the long end of bond markets and the outbreak of a horrendous war in the Middle East darkening the mood.

Market Commentary

By James Mahon

Tenax Absolute Return Strategies Fund activity - October 2023

18th Oct 2023

The Bank of England’s Monetary Policy Committee (MPC) was split 4/4 over whether to raise the Base Rate at their latest meeting, so it was down to the Governor’s casting vote to hold at 5.25%.

Portfolio Activity

By James Mahon

Multi Asset market analysis - September 2023

28th Sep 2023

The Bank of England surprised markets with a ‘hawkish hold’ of the Base Rate at 5.25% in a 5/4 split decision decided by the Governor’s vote.

Market Commentary

By James Mahon

Tenax Absolute Return Fund activity - September 2023

20th Sep 2023

Repeating last month’s report, we start with another look at UK inflation relative to the UK and Europe, which does remain the key to returns at present.

Portfolio Activity

By James Mahon

Tenax Absolute Return Strategies Fund activity - August 2023

17th Aug 2023

Another month of improvement for the inflation figures leaves the UK looking a shade less out of line with the US and Europe, right.

Portfolio Activity

By James Mahon

Multi Asset market analysis - July 2023

31st Jul 2023

That ‘sticky’ inflation: July has brought some slightly improving news for the UK as consumer prices edged down again in pursuit of US and European rates, right.

Market Commentary

By James Mahon

Tenax Absolute Return Strategies Fund activity - July 2023

19th Jul 2023

Finally, some better news for the UK on inflation.

Portfolio Activity

By James Mahon

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  • 07887 520621
  • s.liddle@church-house.co.uk

Matthew Goodsir Business Development Manager

Intermediary Sales

  • 020 7534 9877
  • m.goodsir@church-house.co.uk

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