Selecting an equities strategy in a downturn can be difficult – but the performance of investments in previous recessions can prove helpful. Britain is not yet officially in a recession – two quarters of negative economic growth need to be confirmed for that to happen, which cannot be until next month. But the British Chambers of Commerce warned this week that the UK economy was effectively already in a recession. So what have investment experts done in the past and could this be replicated now? The received wisdom is to invest in defensive sectors that provide household essentials, such as healthcare, food and utilities. A refinement is to invest in slightly more downmarket versions of these, as people still need the goods and may turn to cheaper versions. Charles MacKinnon, chief investment officer at Thurleigh Investment...
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