There were winning Investment Trusts in 2022, but it would’ve taken a skilled investor to choose Latin America, energy infrastructure or insurance as their top sectors at the start of the year. From the war in Ukraine to rocketing inflation to a febrile political climate, 2022 had its fair share of surprises. Investors will be hoping for a more predictable year in 2023.

That said, many of us are struggling to find reasons to be excited about the year ahead. The economic outlook is poor – despite a smidgen (0.1%) of temporary growth in November thanks to the World Cup - with recessions likely across most major economies. Inflationary pressures have yet to recede and interest rates may continue to rise, at least in the short-term, so consumers are likely to rein in spending as household budgets are squeezed. This isn’t unique to the UK either – it’s a pattern replicated across the US and much of Europe too.

On the other hand, it’s not as if most investors don’t know this. In fact, it’s difficult to find a single economist who predicts a different outcome. The only shades of grey seem to be in the length and depth of recession. As such, it’s likely that much of this is already reflected in market pricing. With the average Investment Trust down over 15% for the year to date, it’s plausible that markets are already at, or near, the bottom.

So if the writing for ‘recession’ is well and truly on the wall by now, which Investment Trusts can you incorporate into your portfolio to help you sail through it as smoothly as possible? We've put together 2 Investment Trusts to see you through a recession and asked Gavin Haynes, Consultant at Fairview Investing, to tell us his top pick. Scroll down to find out!