Integrated Actuarial and Investment Solutions
River and Mercantile Solutions is a leading institutional investment and actuarial advisor and OCIO provider. We are dedicated to providing our clients with the understanding and tools to successfully meet the investment goals of their institution. River and Mercantile Solutions is a division of River and Mercantile Group PLC, which is publicly traded on the London Stock Exchange (Ticker: RIV).
With valuations across most major asset classes very expensive, we believe we are still in the Downturn phase of the cycle. Although headline economic growth numbers are likely to improve in the near term, we believe consensus expectations for a full economic recovery may still be optimistic
The equity market recovery underway since the end of March plows ahead, despite a backdrop of virus related economic uncertainty. Overseas markets remain below pre-COVID levels, but US stocks, heavy in a small number of large technology firms, have now surpassed their previous highs.
Economic expectations are modestly positive over the medium term, credit conditions are improving, but valuations are expensive. Our view remains that we are in the Downturn phase, but we recognize that there is meaningful support for risk assets.