September 2021

Monthly Portfolio Changes

In September we made several changes to the ACUMEN Portfolios. In equities we sold our allocation to US financials and initiated a new position in a basket of large cap US equities that exhibit lower volatility characteristics than the broader US equity market. We also sold our position in US value stocks and bought a new position in an ETF providing exposure to companies in ecommerce logistics. Within the ACUMEN Income Portfolio, we rotated our exposure away from the US and increased our allocation to the UK and emerging markets which offer attractive dividends. We also reduced our allocation to government and inflation linked bonds and increased exposure to higher yielding US investment grade credit.

King Model Portfolio 3

King Model Portfolio 4

King Model Portfolio 5

King Model Portfolio 6

King Model Portfolio 7

King Model Portfolio 8

King Equity Growth

King Income Portfolio

The value of an investment in the King Model portfolios, Acumen Protection Portfolios or ACUMEN Portfolios may fall as well as rise. Past performance should not be seen as an indication of future performance. Source of data: Tavistock Asset Management, Thomson Reuters and Lipper for Investment Management unless otherwise stated.