Tactical change – 7 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 have added to our position in global equities with investor sentiment having now dipped to overly pessimistic levels consistent with a buying opportunity. The macro environment also remains supportive for stocks for now, with inflation having receded from recent highs and central banks now cutting rates globally. Elsewhere, we have moved underweight commodities with asset class struggling under supply pressure and we have reduced our allocation to bonds with US elections now behind us.

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.