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Growth and Income Portfolio Updates - Winter 2019

Fourth quarter performance analysis for the St. James’s Place Growth and Income Portfolios.

Adventurous Portfolio

The portfolio produced a strong return in the fourth quarter. The top performer and largest contributor to portfolio performance was the UK & General Progressive fund, which benefited from the election-inspired rally in UK shares. The overseas equity funds delivered more muted gains, as the rise in global stock markets was offset by a significant appreciation in sterling. Click here to read the full Adventurous Portfolio Update.

Balanced Portfolio

The portfolio produced a positive return in the fourth quarter, with all constituent funds rising in value. The top performer and largest contributor to performance was the UK & General Progressive Fund, which benefited from an election inspired rally in UK shares. The Global Equity funds delivered more muted gains, as the rise in global stock markets was offset by a significant appreciation in sterling. Click here to read the full Balanced Portfolio Update.

Balanced Income Portfolio

The portfolio produced a strong return in the fourth quarter, with all constituent funds rising in value. The largest contributor to portfolio performance was the Strategic Income fund, which benefited from narrowing high yield credit spreads, as investor sentiment improved. The UK funds also produced strong returns, as UK stocks received a boost from the reduction in political uncertainty provided by the election result. Click here to read the full Balanced Income Portfolio Update.

Conservative Portfolio

The portfolio produced a positive return in the final quarter. The largest contribution to performance came from the Multi Asset, UK Absolute Return and Investment Grade Corporate Bond funds, each of which benefited from improved investor risk appetite. The largest detractor was the Index-Linked Gilts fund, as improved macroeconomic data allayed fears of a global slowdown, in turn raising interest rate expectations. Click here to read the full Conservative Portfolio Update.

Defensive Portfolio Update

The portfolio produced a strong return in the final quarter. The largest contribution to performance came from the Multi Asset, UK Absolute Return and Investment Grade Corporate Bond funds, all of which benefited from improved investor risk appetite. The largest detractor was the Gilts fund, as improved macroeconomic data allayed fears of a global slowdown, in turn raising interest rate expectations. Click here to read the full Defensive Portfolio Update.

Deferred Income Portfolio

The portfolio produced a strong return in the fourth quarter, with all constituent funds rising in value. The largest contribution to performance came from the UK High Income and Equity Income funds. Both funds benefited from the rally in UK shares that following the election result, which was seen as reducing political uncertainty. Click here to read the full Deferred Income Portfolio Update.

Immediate Income Portfolio

The portfolio produced a positive return in the fourth quarter, with all but one constituent funds rising in value. The top performer and largest contributor to portfolio performance was the Strategic Income fund, which benefited from narrowing high yield credit spreads, as investor sentiment improved. The largest detractor was the Gilts fund, as improved macroeconomic data allayed fears of a global slowdown, in turn raising interest rate expectations. Click here to read the full Immediate Income Portfolio Update.

Managed Funds Portfolio

The portfolio produced a strong return in the fourth quarter, with all constituent funds rising in value. The top performer was the Strategic Income fund, which benefited from narrowing high yield credit spreads, as investor sentiment improved. The global equity exposure in the portfolio delivered more muted gains, as the rise in global stock markets was offset by a significant appreciation in sterling.Click here to read the full Managed Funds Portfolio Update.

Strategic Growth Portfolio

The portfolio produced a positive return in the fourth quarter. The largest contributor to performance was the Investment Grade Corporate Bond fund, which benefited from tightening credit spreads, particularly in the US. The overseas equity funds delivered more muted gains as the rise in global stock markets was offset by the significant appreciation of sterling.  Click here to read the full Strategic Growth Portfolio Update.

 

The price of funds and the income from them may go down as well as up.  You may get back less than the amount invested.

Portfolio fund allocations are not rebalanced automatically. Thus Client Portfolios may not include all of the stocks mentioned in the commentary, as fund allocations may vary between clients, leading to different investment experiences.

The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and the value may fall as well as rise. You may get back less than the amount invested.

The information and opinions contained in this blog are for information only. They are not intended to constitute advice and should not be relied upon or considered as a replacement for advice. Before acting on any of the information contained in this blog, please seek specific advice from Gilson Gray Financial Management. 

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