“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.”
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.
|Absolute Return Strategies (including cash)|
Directions of arrows show overall change from previous tactical change. For individual portfolio changes, please see factsheets.