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.
We are thrilled to share that AlphaReal has been shortlisted for ESG Manager of the Year for the 2026 UK Pensions Awards.
Over the quarter, the nominal gilt curve has shifted down by around 25 basis points across the medium to longer maturities.
A broadly parallel upward shift of approximately 20 basis points is evident across the nominal gilts curve, with yields reaching multi-year highs.
AlphaReal, the specialist real assets investment manager, is pleased to announce the acquisition of a fully consented 12MWp solar development, located near Arbroath, Scotland.