Tactical change – 24 October 2024

Published  24 October 2024
   5 min read

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 remained close to all-time highs over recent weeks. Stronger data has helped markets brush off US recession fears, while geopolitical risk and uncertainty around the US election outcome remain a headwind. We have dialled back our overweight equity exposure in this backdrop and also moved towards neutral in bonds and commodities.

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

For individual portfolio changes, please see factsheets.