Overview: Given ongoing negative sentiment globally, growth engines has continued to correct
Given ongoing negative sentiment globally, growth engines has continued to correct. This is not unusual given the nature of the portfolio. Notwithstanding, the investment committee is considering more strategies that have low correlation to the broader equities market. The ones currently being used have provided a buffer to negative returns from broad equity funds.
Furthermore, as central banks have increased rates, the committee has resolved to reduce exposure to some fixed income strategies in favour of infrastructure where underlying cashflows are more closely linked with inflation. The committee holds the view that inflation is likely to remain sticky.
The committee made no changes to the portfolio this month.
