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Asset Allocator

from Asset Allocator

Caution reigns

With events in Russia this week adding to an already exhaustive and exhausting list of "things that are bad for markets right now", we thought it prudent to revisit the funds that might generally be grouped as "cautious". 

When last we looked at this space, it was Troy that had gained real traction with allocators, with both the Trojan fund and the Personal Assets investment trust held by multiple advisers. 

As 2022 has wound on, two DFMs sold the Trojan fund, leaving a total of two still owning it.

The Personal Assets trust, managed by the same team as Trojan, is owned by one allocator.

One fund which has caught allocators' attention is Ninety One Diversified Income. It is held in seven of the portfolios we cover, and has added a net two new allocators this year to date. 

This makes it by far and away the most popular multi-asset fund among DFMs in our database.

This is a £1.2bn mandate which is top quartile over six months, one and three years. The fund has 29 per cent in equities and 13 per cent in government bonds, and a further 17 per cent in investment grade corporate bonds.

In total the Ninety One fund has 78 per cent of its assets in fixed interest while Trojan fund has 38 per cent.

That's the sort of straight-laced asset mix of which veteran market participants may approve in uncertain times.

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