Tavistock Wealth Literature
Dynamic Planner Literature
Monthly Portfolio Changes
This month we made several changes to the portfolios. In fixed income, we booked gains on our overweight allocation to US mortgage-backed securities, reduced duration in global government bonds and initiated a new position in hard-currency EM corporate bonds. We did not make any changes to our investments in equities, commodities or property this month.
Please see below our monthly Sterling chart, showing the month end GBP/USD rate of 1.29, 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.