Courtiers Chief Investment Officer, Gary Reynolds, reflects on a year of resilience and results. Courtiers’ funds delivered impressive returns while diligently navigating ongoing geopolitical tensions and market volatility.
Gary’s view on economic trends include the potential ‘peace premium’ if Ukraine stabilizes:
“…peace in Ukraine is one thing, if it came about with a regime change in Russia, and it meant that natural gas could flow back into Europe, Ukraine is sort of called the breadbasket of the world. So it will enable them to produce crops. There’d be a lot of rebuilding going on in Ukraine, a change in Russia, it would be fantastic.”
Considering demographic shifts driving technology adoption, Gary reaffirmed Courtiers’ commitment to ESG principles and highlighted why diversification and discipline helped Courtiers’ Total Return Growth fund outperform the tech giants that form the Magnificent Seven (Mag 7).
On the UK economy
Gary highlighted the importance of growth-friendly policies: “Put money back into the pockets of businesses and households and let them spend. You’ll get a boost in the economy.” He contrasted this with the risks of higher taxation and excessive public spending, reinforcing Courtiers’ commitment to strategies that prioritise value and resilience.
Cash or digital – pros and cons?
“I wouldn’t touch it (crypto) with a barge pole because you just don’t know what’s going to happen.”
Gary stressed that even central banks haven’t fully defined what digital currency means, before flashing a warning light on crypto again. While noting that it’s touted as a replacement for traditional money, everyday transactions still use pounds and pence, and crypto prices are quoted in dollars. “Tell me which is the default currency,” he said, underscoring that crypto remains speculative, not practical.
Looking ahead to 2026, Gary remained optimistic. “There’s still good value out there,” he says, emphasising that “the broad diversification and the leaning into companies that have got decent cash flow, better price to book, better price to earnings, I think gives you a defensive flavour through the portfolio.”
Gary’s closing message for 2025? Gratitude for clients’ continued trust in Courtiers, alongside confidence in the Investment team’s ability to navigate whatever comes next.
Thank you for your questions at this year’s Client Seminars and thank you to all our clients for your continued trust in Courtiers throughout the year. We wish you a peaceful, happy Christmas and a prosperous 2026 and look forward to continuing to help you maximise the wealth you created into the future.
Watch the full interview above – listen below – or find us on your favourite podcast channel – just look for Courtiers Wealth.
