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Top 10 asset classes - 1st April 2019

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1. Global Bonds (GBP Hedged) [+]
2. UK Corporate Bonds [+]
3. Asia Property [+]
4. UK Gilts (>15 Years) [+]
5. UK Gilts (Inflation Linked) [+]
6. UK Gilts (5-15 Years) [+]
7. UK Gilts (1-5 Years) [+]
8. Asia Dividend Equities [+]
Buffer Zone
9. US Property [+]
10. US Equities (Technology) [+]
Number in brackets () denotes position one month ago.
Postive trend = [+], Negative trend = [-].

Top 10 commentary 1st April 2019
There were two asset classes relegated from the top 10 during March but little change at the top of the matrix where bonds of various types continue to dominate.

Both bonds and equities performed well during March but of the two, our investment process continues to favour bonds, both corporate and government, on a risk adjusted basis. This is reflected by the fact that six of the top eight places remain occupied by the gilt and bond indices that we monitor.

Early in the month we lost inverse commodities, as the price of oil continued to increase, and at the end of the month precious metals also left the top 10. The two new entrants during the month were US property and US technology equities, the former joining Asian property inside the top 10 and taking the number of property indices to two. In addition to good performance from the property indices domestically, both also benefited from a strengthening dollar against the pound. The pound had initially shown signs of resilience, however, following another round of failed attempts in the UK to solve the Brexit deadlock, it fell by just under 2% against the US dollar.

US Technology equities joined Asian dividend equities in the top 10 as a number of the equity indices we monitor turned from a negative trend to a positive trend during the month. The signs are that one or two may break into our investment portfolios and funds but, as we saw in 2018, this can change very quickly with political and trade issues in the UK and around the world continuing to cast a shadow.

Downloadable top 10s

April 2019

March 2019

February 2019

January 2019

December 2018

November 2018

October 2018

September 2018

August 2018