View more on these topics

Passive aggressive

Adviser Fund Index panellists cut the British equity weighting in the Aggressive index by 7 per cent at the latest rebalancing. The allocation fell from 35 per cent to just 28 per cent on November 1, despite the addition of several British funds, including Cazenove UK Absolute Target.

The Cazenove portfolio, launched in July, was selected by four advisers, making it the eighth most popular fund in the Aggressive index, in terms of aggregated weighting.

This was a significant vote of confidence, taking UK Absolute Target two places ahead of BlackRock UK Abs-olute Alpha.

The overall weighting of the BlackRock fund, which employs similar strategies to UK Absolute Target, fell by over 1 per cent, as two panellists removed it from their Aggressive selections. However, three continue to hold the fund in their portfolios.

The highest-ranked fund ejected from the index was Artemis European Growth.

Just 12 months ago, the £860m portfolio was the third most popular Aggressive index constituent with six selections. However, its popularity waned earlier this year, and four advisers removed the fund in May.

The ejection of the fund contributed to a 1 per cent fall in the overall continental European weighting in the Aggressive index, from 12 per cent to 11 per cent.

The most popular continental European fund in the index – Schroder European Alpha Plus – saw its weighting inc-rease by almost 1 per cent.

Panellists used the cuts in the British and continental European allocations in order to increase their exposure to Asia Pacific and North American equities, by two and one percentage points respectively.

As a result of the shift towards Asia, First State Asia Pacific leaders rose from second place to first in the popularity table.

The move even allowed First State to claim the crown of most popular product provider in the Aggressive index.

M&G fell from first place to third, as the weighting in its Global Basics portfolio fell by almost 1 per cent. However, the fund was removed by just one panellist and maintained a broad level of support.

Japan in particular appeared to command greater appeal, as Aberdeen Asia Pacific & Japan, Neptune Japan Opportunities and Schroder Tokyo joined the index.

The weighting to SG Japan CoreAlpha almost doubled, taking it to second place in popularity terms. Seven panellists chose the fund this month, compared with five in May, and Société Générale Asset Management moved to fourth most popular provider in the index.

However, the biggest allocation increase in the Aggressive index was in fixed interest. The bond weighting rose from 4 per cent to 7 per cent, as Cazenove UK Corporate Bond, City Financial Strategic Gilt and M&G Strategic Corporate Bond joined the index.


Aim of the claim

Many advisers I have spoken to over the last few weeks have one question on their mind – are clients’ investments safe?

Testing the Foundation

The global economy isn’t headed into recession, at least not yet. This month, David Lafferty, Chief Market Strategist at Natixis Global Asset Management, examines current capital market and portfolio risks for signs of recession. Click Here for Capital Market Notes


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm