King MODEL PORTFOLIO Factsheets
Monthly Portfolio Changes
In February, we made several changes to the portfolios. In fixed income we took profit on our US inflation trade by selling our allocation to US TIPS and rotating into a short duration equivalent we think can outperform in an environment of rising long-dated bond yields. We think rising yields could continue to drive the ongoing rotation from growth to value and as such we initiated a new position in US financials, raking profit on our thematic exposure to esports and gaming. In equities also we took profit on our allocation to global clean energy and reinvested a portion of the proceeds into a lower beta equivalent that we consider more resilient in the current market environment. We also trimmed our exposure to Chinese technology companies for similar reasons. Finally, we initiated a new position in an ETF that provides broad-based exposure to a basket of commodities.