Tactical change - 6 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?

Equity markets have recovered a long way from their April lows. Having increased our overweight position in stocks as investor sentiment moved to overly depressed levels during the April dip, we have since reduced the size of this position, taking profits as markets have recovered and our measure of investor sentiment back to neutral levels. We have also reduced our allocation to commodities, moving to a neutral position in the asset class as an increase in supply and waning demand has put the asset class under pressure. Elsewhere we remain underweight bonds and 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.