Tactical change – 8 December 2022
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?
With further signs of peak global inflation, we have added to equities as it is possible to see investor sentiment continue to improve from September’s depressed levels.
We have also added to bonds at the margin and moved commodities to a more underweight position. 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
| Overweight | Neutral | Underweight | |
|---|---|---|---|
| Equities | Increased | ||
| Property | No change | ||
| Commodities | Decreased | ||
| High Yield | Increased | ||
| Gilts | Increased | ||
| Index Linked | Increased | ||
| Corporate Bonds | Increased | ||
| Absolute Return Strategies (including cash) | Decreased |
For individual portfolio changes, please see factsheets.