With Lonsec now holding more frequent Asset Allocation Investment Committee meetings, CIO Lukasz de Pourbaix provides an update from his virtual office at home on the outcome of Lonsec’s out-of-cycle meeting held this week.
Whilst Lonsec’s overall asset allocation positioning has been the same for some time, the committee members decided this week that this defensive position should remain unchanged for now, with slight underweight exposure to equities and overweight exposures to real assets and alternatives. The investment team are meticulously looking at the three key metrics Lonsec uses to assess asset allocation – valuations, business cycle and sentiment & momentum – and are looking for opportunities to take a more positive position to risk assets.
Given the current extreme market movements, the investment team have this week rebalanced the portfolios to the target weights as a prudent way to manage our portfolios’ exposure.
Lonsec’s next committee meeting is scheduled to be held in two weeks, however we are assessing our positions daily and will continue to provide our advisers with updates as the COVID-19 situation continues to evolve.
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