Tactical change - 23 November 2023

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 rebounded from their October lows as signals that central banks have now reached peak interest rates have buoyed investor sentiment. The business cycle is in the crosshairs and we are monitoring macro-economic data closely. We are adding to our overweight equites; in the absence of bad news, stock market seasonality could support a rally into the Spring as sentiment continues to pick up from oversold levels. We have moved to an underweight position in commodities and added to bonds, as global growth has started to soften and geopolitical risk has subsided. 

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.