Tactical change – 10 August 2017

15 August 2017
Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs).

What’s changing?

“We marginally increased the portfolio's exposure to high yield bonds as a lower risk way of gaining corporate exposure with some income, as summer months tend to be more volatile.

We maintained a small overweight position in equities and a neutral allocation to commodities, where potential for weaker economic activity in China increases the downside risk. Property exposure was kept in line with the benchmark.”

Keep up to date with Trevor’s latest views

You can access up to date views from Trevor on the market and the movements of the Investment Clock on our Latest Investment Clock updates page.

Latest tactical positions

 OverweightNeutralUnderweight
Equities    
Property    
Commodities    
High Yield    
Gilts    
Index Linked    
Corporate Bonds    
Absolute Return Strategies (including cash)      

Directions of arrows show overall change from previous tactical change. For individual portfolio changes, please see factsheets.

Last updated: 16 Aug 2017

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