Tavistock Wealth Library
ACUMEN ESG Protection Portfolio
Tavistock Wealth Literature
Monthly Portfolio Changes
In July, we made several changes to the portfolios. In fixed income, we trimmed our exposure to UK corporate bonds. In equities, we sold our position in Russian equities and took partial profit on our US technology position given stretched valuations and elevated headwinds going forward. Within smart beta we sold the ‘value’ factor and increased our allocation to ‘ESG’, which is an acronym used to describe companies with exposure to environmental, social and good corporate governance standards. Within our commodity carve-out, we added copper to the portfolios. We did not make any changes to our investments in property this month.
ACUMEN Portfolio Holdings
Please see below our monthly Sterling chart, showing the month end GBP/USD rate of 1.31, 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 2022.
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 Asset Management Limited, Thomson Reuters and Lipper for Investment Management unless otherwise stated.