Tavistock Wealth Library

January 2020

ACUMEN ESG Protection Portfolio

ACUMEN ESG Protection

Portfolio Factsheet

ACUMEN ESG Protection

Portfolio Brochure

Environmental, Social &

Governance Investing

Tavistock ESG

Investment Policy

Tavistock Wealth Literature

Tavistock Wealth Rolling

12-Month Review

Quarterly Perspectives –

Q4 2019

Quarterly Perspectives –

Q1 2020

Tavistock PROFILES

Brochure

ACUMEN Capital Protection

Portfolio Brochure

ACUMEN Income-Protection

Portfolio Brochure

Due Diligence

Questionnaire

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

In January, we made three changes to the portfolios. In fixed income, we rotated our allocation to investment grade credit out of Europe/US and into the UK where valuations look relatively attractive, particularly around the 10-year maturity. We also purchased EM Local debt and sold EM Hard Currency debt as global markets remain flush with liquidity and should benefit from a weaker US dollar. This trade also brings our overweight emerging market debt positions more in line with the benchmark. In equities, we sold our position in Indian equities and purchased a new position in Taiwanese equities. The Taiwan stock market has a high exposure to the semiconductor industry, which is forecast to re-accelerate in 2020. Taiwan also stands to benefit from shifting supply chains. We did not make any changes to our investments in commodities or property this month.

Factsheets

ACUMEN Capital Protection Portfolio

ACUMEN Income-Protection Portfolio

ACUMEN Portfolio 3

(Bond)

ACUMEN Portfolio 4

(Conservative)

ACUMEN Portfolio 5

(Progressive)

ACUMEN Portfolio 6

(Adventurous)

ACUMEN Portfolio 7

(Equity)

ACUMEN Portfolio 8

(Strategic)

ACUMEN Income

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 1.32, 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 1.45 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.