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.

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