Tavistock Wealth Library

February 2019

Tavistock Wealth Literature

Introduction to

Tavistock Wealth

Tavistock PROFILES

Brochure

ACUMEN Capital Protection

Portfolio Brochure

ACUMEN Income-Protection

Portfolio Brochure

Tavistock Wealth

DDQ

Tavistock Wealth Rolling

12-Month Review

Quarterly Perspectives –

Q1 2019

Quarterly Perspectives –

Q4 2018

Dynamic Planner Literature

Research Note

(ACPP & AIPP)

Fund Risk Profiling Report

(ACPP & AIPP)

ACPP

Certificate

AIPP

Certificate

Publications

History of the UK

Stock Market (1925 – 2018)

5 Years Avoiding the Storm:

Stick or Twist?

Market Update:

October 2018

He Who Recommends it

Shall be Liable for it

For more publications please click here

Monthly Portfolio Changes

This month we made a number of changes to our fixed income, equity and commodity investments. In fixed income, we increased duration in the portfolio by reducing exposure to US floating rate notes and adding to our existing position in long-dated European government bonds. Whilst we remain underweight duration overall, we feel it is prudent to reduce the size of our underweight at this time. In equities, we added two new ETF positions: iShares S&P 500 Information Technology Sector and iShares MSCI China A (domestic). These investments offer attractive valuations and strong upside potential. Meanwhile, we reduced our allocation to the diversified commodity swap as the outlook is less compelling going forward. Finally, within our core smart beta equity allocation, we rotated our exposure out of momentum and into the value and minimum volatility factors. We did not make any changes to our investments in properties this month.

Factsheets

ACUMEN Capital Protection Portfolio

ACUMEN Income-Protection Portfolio

ACUMEN Bond

Portfolio

ACUMEN Conservative

Portfolio

ACUMEN Income

Portfolio

ACUMEN Progressive

Portfolio

ACUMEN Adventurous

Portfolio

ACUMEN Equity

Portfolio

ACUMEN Strategic

Portfolio

Tavistock PROFILE 3

Tavistock PROFILE 4

Tavistock PROFILE 5

Tavistock PROFILE 6

Tavistock PROFILE 7

Tavistock PROFILE 8

Tavistock Income

GBP Update

Please see below our monthly Sterling chart, showing the month end GBP/USD rate of 1.33, which is below the 5, 10 and 20-year averages. The chart also highlights Sterling’s purchasing power parity (PPP) as well as Capital Economics’ forecast for a return to 1.50 by the end of 2020.

The value of an investment in the Protection Portfolios, ACUMEN Portfolios or Tavistock PROFILES may fall as well as rise. Past performance should not be seen as an indication of future performance. Source of data: Tavistock Wealth Limited, Thomson Reuters and Lipper for Investment Management unless otherwise stated.