Tactical change – 21 November 2024
The Multi Asset Team at Royal London Asset Management have made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs).
What’s changing?
We remain overweight equities as the current environment continues to be favourable for risk assets. Global growth remains resilient, disinflationary forces are still in play and central banks are cutting rates globally, which should provide further boost to business confidence and company earnings. We have taken our commodity allocation back to neutral from underweight amid recent flare-up of geopolitical tensions that may lead to supply disruptions. We remain slightly underweight bonds.
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
Overweight | Neutral | Underweight | |
Equities | No change | ||
Property | Increased | ||
Commodoties | Increased | ||
High Yield | No change | ||
Government Bonds | No change | ||
Index Linked | No change | ||
Corporate Bonds | No change | ||
Absolute Return Strategies (including cash) | Decreased |
For individual portfolio changes, please see factsheets.