Sentiment improves as bank risks ease

Sentiment improves as bank risks ease

Markets and investment update
April 4, 2023



Here’s how we are positioned in our flagship portfolios:

  1. Our focus on quality within fixed income, with higher-than-normal exposure in government bonds, and reduced exposure to high yield and emerging market debt;
  2. Our selection of equity investments, as several technology stocks, for instance, have performed strongly and a lower exposure to the struggling banking sector;
  3. Our strategic gold position, which proved to be a good diversifier amid rising uncertainty.
  1. We believe the ongoing reopening of China will continue to accelerate, underscoring our overweight positioning in Asia-Pacific equities.
  2. Similarly, as we approach the peak in interest rates, we remain confident in holding high quality government bonds as we believe monetary policy tightening will continue to feed through the economy with a lag, which will weigh on growth.

Past performance is not a reliable indicator of future returns.

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