Inflation prints continued to decline over the quarter following the trend of the previous quarter. The YoY RPI rate at the end of March was 4.3%, while the CPI rate was 3.2%. Over the quarter the market lowered its expectation for the number of Bank of England base rate cuts in 2024. This is due to the receding probability of rates being cut by the US Federal reserve. However, we anticipate that UK rate cuts are still likely this year as inflation returns closer to target.
AlphaReal, the specialist real assets investment manager, has recently completed the construction of a 13.5MW onshore wind asset near Rigmuir, Scotland.
AlphaReal, the specialist secure income manager, has structured and invested in a portfolio of 28 childcare facilities located across the UK on behalf of the retirement specialist, Just Group plc.
This update summarises the latest news, thought leadership and insights from AlphaReal.
We saw an upward move in both nominal and real gilt yields over the quarter. The nominal curve increased by an average of 26 basis points (bps), while the real curve increased by 31 bps.