Tactical change – 14 September 2017

19 September 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) and Governed Retirement Income Portfolios (GRIPs).

What’s changing?

“We took advantage of bouts of risk aversion on heightened geopolitical risk surrounding North Korea and extreme weather events in the US to add to the portfolio’s overweight in equities. The portfolio’s commodities exposure was moved to a marginal underweight, reflecting ongoing potential for weaker economic activity in China next year. We slightly decreased the portfolio’s exposure to government bonds given current low bond yields. We maintained the exposure to global high yield bonds as a lower risk way of gaining corporate exposure with some income. 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: 25 Sep 2017

This website is intended for financial advisers only and shouldn't be relied upon by any other person. If you are not an adviser please visit royallondon.com.

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London EC3V 0RL.