MPS update

With volatility returning to equity markets in the first quarter of the year, risk assets bounced back in April having struggled in March. The UK stock market was helping to lead the way with the FTSE100 up 6.4% despite being hugely out of favour given the headwind of Brexit, whilst US markets were relatively muted irrespective of strong Q1 company earnings off the back of President Trump’s tax reforms.

The top performers within models came from UK equities, namely Majedie UK Equity which benefitted from owning Sainsburys following news of the merger with Asda; Vanguard FTSE100 ETF and Old Mutual UK Alpha. The contribution of our bond holdings was broadly flat, whilst our alternatives saw good returns from targeted absolute return funds (RWC US Absolute Return and Aviva Multi-Strategy Target Return), gold – which was down during the month but delivered a positive 1.3% due to sterling weakness, whilst our Property (TR Property) and Infrastructure (HICL) names were both up strongly.

There were no changes made to the models during the month.

Cazenove Capital 

MPS Model

May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 Cumulative return
  since launch*
Core Models
Cautious 1.3% -1.1% 0.5% 1.2% -0.9% 0.8% 0.0% 1.2% -0.4% -1.0% -0.1% 1.8% 11.7%
Balanced 1.8% -1.1% 0.8% 1.5% -1.1% 1.5% -0.1% 1.5% -0.1% -1.2% -1.8% 2.5% 16.2%
Growth 2.4% -1.2% 1.0% 1.5% -1.1% 1.9% -0.2% 1.9% -0.1% -1.4% -2.5% 3.5% 21.1%
Aggressive 2.7% -1.3% 1.1% 1.6% -1.1% 2.1% -0.4% 1.9% 0.0% -1.4% -3.1% 4.1% 23.9%
Equity Risk 2.9% -1.2% 1.1% 1.7% -1.2% 2.5% -0.4% 2.0% 0.2% -1.5% -3.5% 4.2% 26.1%
Balanced Inc 1.8% -1.1% 0.7% 1.5% -1.0% 1.3% -0.1% 1.5% -0.4% -1.1% -1.6% 3.0% 17.0%
Active/Passive Models
Cautious     0.4% 1.1% -0.7% 1.1% -0.4% 1.2% 0.0% -0.9% -0.8% 1.6% 2.5%
Balanced     0.6% 1.4% -0.9% 1.7% -0.5% 1.4% 0.2% -1.1% -1.6% 2.3% 3.5%
Growth     0.8% 1.6% -1.0% 2.2% -0.6% 1.7% 0.1% -1.3% -2.2% 3.1% 4.3%
Aggressive     0.9% 1.7% -1.1% 2.4% -0.8% 2.0%  0.0% -1.4% -2.7% 3.5% 4.5%
Equity Risk     1.1% 2.0% -1.3% 2.7% -0.7% 2.0%  0.2% -1.4% -3.1% 3.7% 5.0%

*Cazenove Capital MPS Core Models launched on 1st July 2016. Cazenove Capital MPS Active/Passive Models launched on 1st July 2017. 
Past performance is not a guide to future performance. The value of an investment and the income from it may go down as well as up and investors may not get back the amount originally invested.

 

Contact Cazenove Capital

To discuss your DFM requirements, or to find out more about our services and how we can help you, please contact:

Nick Georgiadis

Nick Georgiadis

Head of DFM Team nick.georgiadis@cazenovecapital.com
Simon Cooper

Simon Cooper

Business Development Director simon.cooper@cazenovecapital.com