Tactical change – 5 December 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 have added further to our overweight position in equities. The global macro backdrop remains positive and markets have rebounded to new highs, supported by improving investor sentiment and strong corporate earnings. We reduced our allocation to commodities, moving to an underweight position with supply concerns easing. We have maintained our 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 | Increased | ||
| Property | Increased | ||
| Commodities | Decreased | ||
| High Yield | Increased | ||
| Government Bonds | Decreased | ||
| Index Linked | No change | ||
| Corporate Bonds | No change | ||
| Absolute Return Strategies (including cash) | Decreased |
For individual portfolio changes, please see factsheets.