Tactical change - 18 April 2024

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has 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 fundamental picture continues to be supportive. However, we have reduced the size of our overweight in stocks given signs that resilient economic data could see policy rates staying higher for longer. We are modestly underweight bonds. Elsewhere, we have added to commodities; a pickup in global growth outlook has come alongside supply concerns and an increase geopolitical risk, all which provide upside risk for the asset class. We remain underweight property. 

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.