Model Portfolios (weights) – May 2023

In the tables below we present the allocation of model portfolios as voted by our Investment Committee in May 2023.

Tactical (1 month horizon)

Asset Class	Low	Medium	High
Cash	35.0	17.7	8.3
Fixed Income	46.7	31.7	35.0
Sovereign	28.3	15.0	13.3
Investment Grade	14.0	11.7	15.0
High Yield	4.3	5.0	6.7
Equities	10.0	23.3	28.3
Developed	8.3	16.7	15.0
Emerging	1.7	6.7	13.3
Commodities	1.7	6.7	6.7
Alternatives	6.7	20.7	21.7
Total	100	100	100

Core (6 month horizon)

Asset Class	Low	Medium	High
Cash	40.0	21.0	8.3
Fixed Income	43.3	33.3	30.0
Sovereign	30.0	18.3	13.3
Investment Grade	11.7	10.0	11.7
High Yield	1.7	5.0	5.0
Equities	11.7	25.0	33.3
Developed	10.0	20.0	21.7
Emerging	1.7	5.0	11.7
Commodities	1.7	5.0	8.3
Alternatives	3.3	15.7	20.0
Total	100	100	100

Investment Grid

Asset Class	Low	Medium	High
Cash	-	-	=
Fixed-Income	+	-	+
Sovereign	-	-	=
Investment Grade	+	+	+
High Yield	+	=	+
Equities	-	-	-
North America	-	-	-
Europe	=	+	+
Commodities	=	+	-
Alternative Investments	+	+	+

You can read more about the Investment Committee below:

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