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In its latest re-balance of portfolios, the Evelyn Partners Sustainable Managed Portfolio Service (SMPS) team has continued to diversify its fixed income and equity fund holdings. The team has added to short dated bonds in the models at the expense of cash, and increased exposure to large cap and value whilst reducing growth and small caps within equities.
In its latest re-balance of portfolios, the Evelyn Partners Sustainable Managed Portfolio Service (SMPS) team has continued to diversify its fixed income and equity fund holdings. The team has added to short dated bonds in the models at the expense of cash, and increased exposure to large cap and value whilst reducing growth and small caps within equities.
Cash was reduced in all Sustainable MPS portfolios except Maximum Growth. Where the portfolios hold more than 2% cash, it is invested in a LV NAV money market fund which is able to take advantage of the best possible rates available. The Sustainable MPS team added a new holding in Aegon Global Short Dated Climate Transition fund (previously called Aegon Short Dated Investment Grade Bond). The positions were primarily funded from a combination of cash and reducing TwentyFour Sustainable Short Term Bond Income, the latter of which was previously a very large position in the lower risk portfolios. The Sustainable MPS team continue to regard the fund very highly, but believe that greater diversification within the fixed income allocation is prudent. The team also topped up exposure to the iShares 0-5Y Gilts ETF.
In the equities space, the team bought a new position in Jupiter Responsible Income, which has been managed by James Moir at Jupiter since December 2021 and was introduced to further diversify the portfolios’ UK equity allocations. It was funded via reductions in the existing UK equity holdings, but most materially from Trojan Ethical Income, given that it exhibits understandably higher correlation with Trojan Ethical owing to the consistent approach to equity selection, which is held within the Alternatives allocation. Elsewhere, the team added to Schroder Global Sustainable Value at the expense of holdings which tend to have a heavier bias to growth and away from larger companies.
Genevra Banszky von Ambroz, lead manager of the Evelyn Partners Sustainable MPS commented:
“Against what continues to be an extremely challenging macro backdrop, characterised by a very high degree of uncertainty, we have continued to focus on delivering portfolios which are truly driving towards sustainability, whilst exhibiting greater balance and diversification. The recent changes are a combination of asset allocation decisions to take advantage of current market conditions and stock selection. We are very pleased with the new fund additions, which we believe bring important benefits to the portfolios from a number of different perspectives.”
Evelyn Partners was created in 2020 through the merger of Tilney and Smith & Williamson. With £63.0 billion of assets under management (as at 31 December 2024), we are one of the largest UK wealth managers ranked by client assets.
Through an extensive network of offices across 25 towns and cities in the UK, as well as the Republic of Ireland and the Channel Islands, we support private clients, family trusts and charities, as well as provide investment solutions to financial intermediaries. Our diverse client base includes entrepreneurs, C-suite senior managers and partners of professional firms.
Our expertise span both award-winning financial planning and investment management, enabling us to offer clients a truly holistic dual expert wealth management service. Through Bestinvest, we also provide an online investment platform and coaching service, for self-directed investors, consistent with our purpose of ‘placing the power of good advice into more hands’.
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication.
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