Quarterly Review Q1 2024 - Cautious Final - Flipbook - Page 3
Performance summary
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The Multi-Asset Blend Cautious Fund (“the Fund”) enjoyed a strong start to the year, returning
+2.6% over the 昀椀rst quarter.
Although representing only 30% of the Fund, strength in global equity markets meant the
equity component proved very additive over the quarter. This was further supplemented by
the Fund being tactically overweight to the strongly-performing Japanese Equity market.
Despite equity markets being primarily driven by what’s done well recently (i.e. what are known
as “momentum” stocks), it was pleasing to see your Fund’s global diversi昀椀cation prove helpful
to returns. The Fund’s more growth-oriented managers delivered the strongest performance
whereas small cap and value-oriented strategies typically lagged.
Although 昀椀xed income markets were generally lacklustre over the period, other diversifying
strategies in Absolute Return and Property & Real Assets made a material positive contribution
to the Fund’s return over the quarter.
MAB Cautious
IA Mixed Investment
0-35%
Quarter 1 2024
2.6%
1.5%
1 year
6.7%
5.9%
11.5%
11.5%
17th Oct 2022
(Since launch)
The Fund has
seen a return
of 11.5% since
launch in
October 2022.
The Fund performance 昀椀gures are presented net of the Ongoing Charges Figure
(OCF) and run from launch.
Key portfolio activity
0 Sales
There were no
new sales in Q1
2024.
0 Buys
There were no new
buys in Q1 2024.
47 Manager
meetings
We attended 47
meetings during the
quarter to review
existing and prospective
managers.
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