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TMP-34481
| 1 | | | Discussion Item | ASSET ALLOCATION, PERFORMANCE AND MARKET OUTLOOK
J. Bayley, Portfolio Manager, and T. Rayaisse, Chief Investment Officer, discussed the second quarter (Q2) investment results for 2025, focusing on asset allocation, portfolio performance, and market outlook.
Mr. Bayley reported the Prudent Investor Portfolio’s allocation as of 30th June:
· Money Market: 20% (5% above the target allocation of 15%)
· Fixed Income: 61% (4% below the target allocation of 65%)
· Equity: 19% (1% below the target allocation of 20%)
The fixed income allocation and equity allocations were tactically reduced in favour of a slightly higher allocation to money markets, reflecting a more opportunistic stance with heightened volatility and expectations for a possibly weaker macroeconomic outlook.
Mr. Bayley discussed the Q2 portfolio performance as of June 30, 2025, highlighting the portfolio return, benchmark return, and relative performance. He noted that considering the volatile start to the year, the portfolio performed well in the second quarter.
Overall Q2 Performance:
· Portfolio Total Return: 1.4 | | |
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