Tavistock Wealth Library

NOVEMBER 2020

ACUMEN ESG Protection Portfolio

ACUMEN ESG Protection

Portfolio – Innovation Award

ACUMEN ESG Protection

Portfolio Factsheet

ACUMEN ESG Protection

Portfolio Brochure

Environmental, Social &

Governance Investing

Tavistock ESG

Investment Policy

Protection Portfolio Literature

ACUMEN Capital Protection

Portfolio Brochure

Protection Portfolios –

Product Specification

ACUMEN Income-Protection

Portfolio Brochure

Protection Portfolio

Availability

Fund Risk Profiling Report

(ACPP, AIPP & AEPP)

Tavistock Wealth Literature

The Who, What, How,

Where & Why of Investing

Tavistock PROFILES

Brochure

Tavistock Wealth Rolling

12-Month Review

Due Diligence

Questionnaire

Quarterly Perspectives –

Q1 2020

Quarterly Perspectives –

Q2 2020

Quarterly Perspectives –

Q3 2020

Quarterly Perspectives –

Q4 2020

Publications

History of the UK

Stock Market (1925 – 2018)

5 Years Avoiding the Storm:

Stick or Twist?

Market Update:

October 2018

He Who Recommends it

Shall be Liable for it

For more publications please click here

Monthly Portfolio Changes

In November, we made several changes to the portfolios. In fixed income, we reduced our exposure to Chinese government bonds and invested the proceeds into hard currency emerging market bonds (issued in US dollars). We also took partial profit on our overweight allocation to long-date European government bonds and increased our exposure to high yield debt via “Fallen Angels”. In equities, we took partial profit on our smart beta allocation to ‘quality’ and rotated into US industrial stocks which stand to benefit from the ongoing cyclical rotation we have seen across markets. We also took profit on our allocation to Chinese mainland equities and invested the proceeds into Russia which is a true EM value play via its high exposure to energy and financials. Finally, within our commodity carve-out, we took profit on our position in silver. We did not make any changes to our investments in property this month.

Factsheets

ACUMEN Capital Protection Portfolio

ACUMEN Income-Protection Portfolio

ACUMEN Portfolio 3

(Bond)

ACUMEN Portfolio 4

(Conservative)

ACUMEN Portfolio 5

(Progressive)

ACUMEN Portfolio 6

(Adventurous)

ACUMEN Portfolio 7

(Equity)

ACUMEN Portfolio 8

(Strategic)

ACUMEN Income

Portfolio

ACUMEN MPS 3

ACUMEN MPS 4

ACUMEN MPS 5

ACUMEN MPS 6

ACUMEN MPS 7

ACUMEN MPS 8

ACUMEN MPS ESG 5

ACUMEN MPS ESG 7

Tavistock PROFILE 3

Tavistock PROFILE 4

Tavistock PROFILE 5

Tavistock PROFILE 6

Tavistock PROFILE 7

Tavistock PROFILE 8

Tavistock Income

ACUMEN Portfolio Holdings

ACUMEN Portfolio 3

ACUMEN Portfolio 7

ACPP

ACUMEN Portfolio 4

ACUMEN Portfolio 8

AESGPP

ACUMEN Portfolio 5

ACUMEN Income Portfolio

ACUMEN Portfolio 6

AIPP

GBP Update

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 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.