Genevra Banszky von Ambroz

It is at the expense of funds with a focus on Japan and Europe.

As part of the rebalancing, the team increased its holdings in the UK equities funds Jupiter Responsible Income, Trojan Ethical Income, and Royal London Sustainable Leaders.

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Additionally, it increased its stake in Stewart Investors Asia Pacific Sustainability in the Asia Pacific Ex Japan region.  

The group also increased its holdings of government bonds via the Vanguard US Government Bond Index (hedged) fund.

Genevra Banszky von Ambroz, lead manager of the Evelyn Partners Sustainable MPS commented: “In general, we continued to add to our positions in Fixed Income through nominal sovereign bonds which we believe offer reasonable yields alongside attractive risk-mitigation characteristics. We are more positive on regions outside of the US, primarily on relative valuation grounds, so increased our exposure to Global, UK, Asia and Emerging Market equity funds in this re-balance, moving the look-through exposure into closer alignment with the house view.

“Alternatives, primarily Absolute Return, were used as a source of funds for the additions to Fixed Income; the Real Assets investment companies have had a tougher time of late, but we are comfortable with the positioning given that we believe they provide exposure to assets and strategies which have the potential to deliver attractive risk-adjusted returns alongside strong sustainable characteristics, and in a number of cases, real impact.”

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The group expanded its holdings to include the CG Dollar Fund, which is managed by CG Asset Management and is an active, long-only fund that invests in US government index-linked bonds.

Three additional holdings were also sold:

  • Liontrust SF European Growth;
  • iShares MSCI Japan SRI ETF – Through their stock holdings in the Global and Asia Pacific ex Japan markets, the portfolios gain from exposure to Japanese companies, even though Japan exposure has been slightly decreased to fund allocations elsewhere, and
  • Lyxor US TIPS (H) ETF – succeeded with CG Dollar Fund.

Last week, Evelyn Partners confirms the finalisation of a deal that will see the staff from PPM Wealth join its Glasgow office as part of its ongoing growth in Scotland.