Emerging markets have appreciated by 4% in US dollar terms over the first half of 2016, outperforming developed equities by 9%.
The potential of a ‘Brexit’, UK citizens voting to leave the EU in the referendum on 23 June, is a tailrisk event investors have had to wrestle with for what now seems like some considerable time. While the latest opinion polls have shown a surge in favour of remaining in the EU, uncertainty has continued to influence the UK’s financial markets.
Midstream MLPs’ (Master limited partnership) revenues are more resilient to oil price fluctuations than upstream oil companies’ revenues yet they are trading more like upstream oil companies. We believe there is potential for an upward correction as MLP resilience becomes apparent