We recently reduced the portfolio’s growth position by reducing the Overweight positioning in Australian Equities to Slightly Overweight. The economic shutdowns in Australia, combined with slowing growth out of China, have had a negative impact on a range of domestic indicators resulting in a deterioration in our Australian Equities cyclical signal.
Deanne Baker explains the rationale for the recent changes to the portfolio’s asset allocation positioning and provides an overview of how manager selection impacted the portfolio’s performance over the quarter.
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