Tactical change – 15 August 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?

Equity markets have been volatile over recent weeks, with fears centred around US recession. We remain modestly overweight equities, with our measure of investor sentiment having moved to overly bearish levels following on from the recent spike in volatility. We have added to our position in bonds, taking our position to neutral as we expect further rate cuts from major central banks. Elsewhere, we have added to commodities as geopolitical tensions continue to rise.   

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.