Featured Portfolio:
The Beanstalk High Conviction Balanced Portfolio
& Value Added Through Asset Allocation Over The Long-Cycle
Asset Allocation Pre-GFC
Asset Allocation Post-GFC
The Beanstalk High Conviction Balanced Portfolio values diversification but not at any price!
As the portfolio strives to find value across markets, it may not appear like a 'balanced' fund at a given moment in time. To illustrate by extremes, it aims to preserve capital during times of market excess and invest more fully when market illiquidity offers large discounts.
The portfolio is more likely to exhibit 'balanced' characteristics if portfolio asset allocations are averaged over the long cycle.
Asset Allocation Pre-Pandemic
Asset Allocation Post-Pandemic
Recent Asset Allocation
The Six-Monthly Balanced Report - June 2023
'High real interest rates indicate tight financial conditions. A look elsewhere suggests perhaps more supportive conditions. For example, The Chicago Fed National Financial Conditions Index points to accommodation in this regard. Further, the current strength in stock and bond markets reduces tightness. This would all seem to suggest that the economy is in the position to reaccelerate. If demand returns, inflation is likely to recommence an upward trajectory as product and labour markets are inherently tight.' The Six-Monthly Balanced Report - December 2023