Vistafolio is Wealth Morning’s Managed Account solution for Eligible and Wholesale Investors.  Once a month, we update account holders on the strategy and performance. Please find our latest update as follows:

There’s been some heavier drawdown this month as the market shows signs of more egregious fears sweating across the brows of investors.

Investors fear inflation and climbing interest rates (making risk assets like stocks less attractive in the short to medium-term). They fear the raging spread of new Covid-19 infections from the Delta variant. And they fear tensions spreading from the South China Sea as an assertive Chinese leadership makes blustery statements.

So we’ve seen a lot more volatility. A higher VIX index. Signs of these deeper fears taking hold.

Monday 19th July saw one of the largest drawdowns, in which we went in to buy positions at cut prices.

Amidst this volatility, there remains a growth and recovery story. UK companies, in particular, are returning to profit and strong dividends, which could make 2021 a bumper year for income investors.

For us, the same rules apply. When there is value on the table, we will enter and look to hold for income and growth over the longer term.

Overall, for the month of July, we were down –1.58% across the composite portfolio (total aggregate return across all portfolios following the strategy). And we are up 13.04% since the start of the year.

Please see our performance chart for more details.


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Of course, we would like to see the market — and, in particular, our companies — forever edging upward in their stock price and yield.

But, equally, we make money from fear. In particular, buying in March last year when so much was available at a bargain. Which has delivered much of the growth we see now.



Simon Angelo

Editor, Wealth Morning 

Past performance is not an indicator for future performance. Your actual portfolio will differ from the composite portfolio mentioned. The information contained in this document does not constitute an offer to sell or a solicitation to buy an investment, nor should it be construed as investment advice. Vistafolio investment services are available to Eligible Investors and Wholesale Investors (not to Retail Investors) as defined in the Financial Markets Conduct Act (2013).