The Brunner Investment Trust: navigating shifting markets

Julian Bishop, co-lead manager of the Brunner Investment Trust (BUT), reflects on changing market sentiment between the US and Europe, and how valuation imbalances are shaping opportunities. He discusses Brunner’s balanced approach to quality, growth, and value, and explains why the team remains mindful of market trends while continuing to seek overlooked opportunities. With a long-term mindset, the trust focuses on resilient businesses and contrarian ideas that can deliver sustainable returns beyond short-term narratives.