Welcome to the first Luna Investment Management annual outlook document. 2020 was a year like no other, it impacted our lives and everyday life.

The lessons and experiences from 2020 will not be leaving us anytime soon, but it is time to look forward to what 2021 has in store. We will take a look at the key asset classes, the market backdrop, and provide more information on the Investment Philosophy and current views from the Luna Team.

The content in this publication is for your general information and use only and is not intended to address your particular requirements. Articles should not be relied upon in their entirety and shall not be deemed to be, or constitute, advice. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without receiving appropriate professional advice after a thorough examination of their particular situation. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of any articles. Thresholds, percentage rates and tax legislation may change in subsequent Finance Acts. Levels and bases of, and reliefs from, taxation are subject to change and their value depends on the individual circumstances of the investor. The value of your investments can go down as well as up and you may get back less than you invested. Past performance is not a reliable indicator of future results.