Two months is a long time in financial markets. It seems barely conceivable that only weeks ago Wall Street was setting a plethora of unenviable records for the first half of the calendar year, the worst in performance terms since 1970.
Soaring global inflation was the chief protagonist, wrongfooting central banks whose forecasts of a brief ‘transitory’ episode have been exposed as almost comically inaccurate.
Meanwhile, China’s zero-tolerance covid approach led to repeated stop-start lockdowns of her major cities, crippling global supply chains that have become intertwined with just-in-time delivery of goods and services.
TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.