Tactical change - 20 June 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?

Global equities have continued to rebound over recent weeks, moving to fresh highs despite increased political risk in Europe. We have increased our allocation to stocks, moving further overweight as positive earnings continue to drive markets higher. Elsewhere, we maintain a neutral allocation to commodities; supply remains tight however signs of waning demand are a headwind against the asset class. We also maintain an underweight position to government bonds.

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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.