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Freddy Colquhoun: ‘Income has been a very tricky place to invest’ JM Finn investment director explains why it’s not just the pandemic that has made it difficult to find yield These are complicated times to be an asset allocator: there are thorny decisions on whether to embrace value as the recovery trade builds momentum; or exercise caution in the face of slow vaccine rollouts and new variants. Should they respond to market panic over inflation or wait until it emerges? Plus, income is scarce, ‘defensiveness’ is expensive. There is a lot to balance. JM Finn investment director Freddy Colquhoun is all-too aware of these competing forces. On balance, he is optimistic about the recovery, believing the vaccines will ultimately enable the global economy to find its feet. “We believe the cyclical recovery will strengthen through the year,” he says. ....