Professional Investors

Fund Manager updates

Updates from co-managers James Mahon and Jeremy Wharton.

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Tenax Absolute Return Strategies Fund Webinar - March 2024

A video update for investment professionals on our Tenax Absolute Return Strategies Fund, with Sales Director, Sam Liddle, and Fund Manager and joint-CIO James Mahon. 

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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Barclays and Wealth Management M&A - Deal or No Deal?

13th Feb 2026

In the past few days, we have had the announcement of NatWest’s £2.7bn acquisition of the wealth management business Evelyn Partners. This was followed by the sale of Schroders, the FTSE100 asset management firm and home of Cazenove Wealth Management, to the US investment management firm, Nuveen, for £9.9bn.

Portfolio Activity

By Cranley Macfarlane

Tenax Multi-Asset Strategy Fund activity update - January 2026

14th Jan 2026

As markets ended the year on a positive note it was pleasing to see Tenax rounding off a strong year with a good final quarter.

Portfolio Activity

By Cranley Macfarlane

Tenax Multi-Asset Strategy Fund activity - October 2025

8th Oct 2025

Tenax continued its good performance year to date, demonstrating its resilience even as market uncertainty increases. The asset allocation of the fund remained fairly steady over the quarter as equity markets continued to climb ‘the wall of worry’ that fixed interest markets are warning of.

Portfolio Activity

By Cranley Macfarlane

UK Fixed Income Market Analysis - September 2025

18th Sep 2025

The Federal Reserve had to balance firm inflation against a weakening jobs market. Labour market concerns won and they cut rates for the first time this year.

Market Commentary

By Jeremy Wharton

Multi Asset market analysis - July 2025

2nd Jul 2025

The litany of events clamouring for attention over the course of the first half of the year has been startling.

Market Commentary

By James Mahon

Multi Asset market analysis - March 2025

17th Mar 2025

The first quarter of 2025 is proving to be an exciting one. Volatility has been the beneficiary, along with the price of gold.

Market Commentary

By James Mahon

Multi Asset market analysis - January 2025

2nd Jan 2025

2024 certainly had its moments, now we head into the first year of a second term for Donald Trump, and this time he appears to have control of the legislature as well.

Market Commentary

By James Mahon

Multi Asset market analysis - December 2024

3rd Dec 2024

Shifting sands... In July, the UK shifted decisively to the left and elected a Labour government, this month the US shifted decisively to the right and elected Donald Trump with a sweeping majority (what on earth has gone wrong with the US opinion polling? they were completely wrong).

Market Commentary

By James Mahon

Contact us

To discuss your requirements, or to find out more about our funds and services, please contact us:

Sam Liddle Sales Director

Intermediary Sales

  • 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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