High quality at inexpensive prices – exactly what we look for

January 2026

The consensus on the UK economy remains deeply pessimistic. But, as is often the way with these things, signs of recovery appear just as everyone has written it all off.

For instance, the FT notes: UK productivity growth has been in the doldrums for years. In November, the Office for Budget Responsibility finally gave up waiting for improvement and built long-term weakness into its official fiscal forecasts. Dead on cue, the data has just begun to show tentative signs of a revival. https://www.ft.com/content/e4cf44c8-3c3d-4286-ab69-b603618aeac8

Ground down by this general pessimism, the stock market is clearly unloved. But, for the discerning and patient, there remain many high quality and well-run businesses, often on chunky dividend yields.

High quality at inexpensive prices – exactly what Kennox looks for. We have been steadily adding.

You can find our usual factsheet here.