Tavistock Wealth Library

October 2018

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 –

Q4 2018

Quarterly Perspectives –

Q3 2018

Publications

5 Years Avoiding the Storm:

Stick or Twist?

Market Update:

October 2018

Citywire: Investing in

Smart Beta Strategies

Blog: He Who Recommends it

Shall be Liable for it

For more publications please click here

Monthly Portfolio Changes

This month, we made changes to our investments in fixed income, equities, commodities and property. In fixed income, we reduced our underweight allocation to European and Japanese government bonds. Given attractive valuations, we switched into emerging market hard currency and out of emerging market local currency bonds. In equities, we increased our exposure via a combination of smart beta trading strategies and a new tactical allocation in Asian emerging markets. Towards the end of the period, we also increased exposure to commodity equities including an ETF that tracks the performance of companies in the oil and gas sectors. Oil is now technically oversold, and prices do not reflect the positive underlying fundamentals, as the risk of recession remains low. Finally, we reduced our off-benchmark position in property equities.

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 1.28, which is below the 1, 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.