Tactical change – 5 January 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).
We maintain a modest overweight position in bonds; global inflation is showing signs of peaking and the business cycle is moving into reflation which could be supportive for bonds going into the new year. We maintain an underweight position in commodities as the growth outlook has continued to deteriorate and hold a small overweight position in equities, which has been reduced at the margin. We maintain an underweight position in commercial 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
|High Yield||No change|
|Index Linked||No change|
|Corporate Bonds||No change|
|Absolute Return Strategies (including cash)||Increased|
For individual portfolio changes, please see factsheets.