Tactical change – 22 February 2024

Published  22 February 2024
   5 min read

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?

Equity markets have continued to climb over the recent weeks, supported by decent Q4 corporate earnings and improvements in business optimism. We remain overweight equities and have added to this position as both macro and technical factors remain supportive for the asst class. Elsewhere we remain underweight commodities and have deepened this position more recently as weaker Chinese demand data has seen the asset class continue to trend lower. We remain modestly 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.


Latest tactical positions

  Overweight Neutral Underweight
Equities Increased    
Property     Decreased
Commodities     Decreased
High Yield No change    
Government Bonds     Decreased
Index Linked     Decreased
Corporate Bonds Decreased    
Absolute Return Strategies (including cash)     Decreased

For individual portfolio changes, please see factsheets.