Stability of residence is a core aspiration of most UK households. Traditionally, this has been through homeownership, and recently the advent of institutionally backed private-rented sector (“PRS”) accommodation which has similar characteristics. We believe that companies involved in the provision of PRS – Sigma Capital and Grainger – are likely to be beneficiaries of economic weakness which results from Brexit driving demand for more affordable accommodation. We see this as an entry point to c ....