Investment Line is a regular investment bulletin produced by Mattioli Woods plc. The communication provides an update on funds, highlights some of the areas we are focusing on, and shares our thoughts on the issues of the day.
No further changes this month – we feel our most recent changes leave us well positioned to navigate 2018.
No changes to overseas equities with our geographical preferences remaining the same.
Some see a contrarian play emerging here as so much overseas money has ‘given up’ on the UK – we still feel very nervous about the domestic economy though.
Our lack of belief in the case for global growth means portfolios heavily feature specialist allocations where we feel companies can benefit from key themes in the investment universe and are likely to grow irrespective of wider macro-economic developments. Current allocations are working well.
No changes this month, but there will come a point when the vulnerability of fixed income assets will necessitate a tactical move here.
We trimmed property allocations last month, but do not feel the case for further reductions is sufficiently strong.
Our absolute return and structured products allocations were joined by an exposure to managed futures last month. All of these strategies are distinct and offer different ways to protect clients whilst allowing for continued participation in markets.
We continue to hold some cash for opportunities that may emerge, but the asset class in itself remains deeply unattractive.
Investment Line is written and edited by members of the Mattioli Woods Group investment committee and is for information purposes. It is not intended to be an invitation to buy, or act upon the comments made, and all/any investment decisions should be taken with advice, given appropriate knowledge of the investor’s circumstances. The value of investments and the income from them can go down as well as up, and you may not get back the amount invested. Past performance is not a guide to future returns.
Mattioli Woods plc is authorised and regulated by the Financial Conduct Authority.
