In April, in line with our strategic investment approach, we realigned our portfolios to their target allocations. This involved reducing our holdings in global equities, which had appreciated significantly, and increasing our exposure to undervalued local assets (equities and bonds).
Read MoreWe have seen another subtle adjustment within our local portfolios which accommodates for risk management vs. buying opportunities. These adjustments are not overhauls of strategy but rather minor tactical corrections as we chart the course and ultimately manage the risk for each individual mandate we run.
Read MoreMarkets have experienced a sharp pullback this year resulting in asset allocations across portfolios drifting away from their intended values. We believe that it would be appropriate to rebalance portfolios back to their strategic weights.
Read MoreOur view is to protect each of our clients’ livelihoods here in SA, without losing options due to unique SA risks. For South Africans, this is notably exposure to SA markets, alongside the Rand. This is not to say there is no opportunity in SA, but rather to say there is also risk in SA, as well as opportunities elsewhere.
Read MoreFollowing several rebalances to portfolios last year, we will be rebalancing the multi-asset model portfolios on platform back to target weights to address drift that has come about from strong performance in risky assets (equity and property).
Read MoreThe Global Portfolio Series (GPS) has benefitted from a stable and defensive asset allocation over the years, as should be expected from a core global portfolio. 2020 however provided many points to consider as we look to the future; one which presents a myriad of potential outcomes from an intriguing starting point.
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