After months of depressed readings, investor sentiment has rebounded sharply and now seems very optimistic. Having bought in the market weakness at the end of 2018, we have reduced equity exposure in recent rallies, taking profits, as well as our holdings in commodities and government bonds. The proceeds were moved into short duration global high yield debt and cash to reinvest if equity markets fall. We would like to see evidence that Chinese stimulus measures are boosting growth before becoming more positive again.
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.
|Absolute Return Strategies (including cash)|
Directions of arrows show overall change from previous tactical change. For individual portfolio changes, please see factsheets.
Head of Multi Asset at Royal London Asset Management
Trevor Greetham is a portfolio manager at Royal London Asset Management. Prior to joining Royal London in 2015, Trevor was asset allocation director for Fidelity Worldwide Investment, where he was responsible for implementing tactical investment decisions across a wide range of institutional and retail funds including the Fidelity Multi Asset Strategic Fund.