We always expected July and August to be slow, however after an improving May and June we had high hopes for a summer that may be more active than usual. We couldn’t have been more wrong. With just 10 days remaining in the month, we are currently on course for the slowest month for investments for well over two years, with just 20 investments announced in August thus far.
If the remainder of the month retains the same pace that we’ve seen so far, then August could end up on just 30 investments. This puts a huge spanner in the works for this year being a growth year for investments and brings the real possibility of a down year after all, just a month or two from seemingly being on course for over 800 investments. Hopefully, we should see the pace pick up a little, but even still, August would have to pull off something spectacular in the next week or so to avoid being the slowest month for investments since 2015.
Naturally, this also puts us on course for a slow quarter, with Q3 also now looking likely to be the slowest quarter since 2015, in fact withe the current pace, we would see ‘just’ 114 investments. Even with a strong September, we would need to see 80 investments next month in order not to record the slowest quarter in close to 2 years.
Let’s hope that with most back from their summer holidays now that we see a flurry of funding announcements over the next ten days, otherwise we may be left reflecting at the end of the year, how this summer was not just a wash out for weather but also for investments.