Model Portfolio Service: Q1 2019 update


A strong start to 2019

Markets rallied after a weak end to 2018 and the impact of the trade war between China and the US has decreased. The Fed's announcement of no interest rate rises this year allowed the equity market to perform well.

Portfolio positioning and market review

The growth style continued to perform well, namely our holdings in the BlackRock European Dynamic and JPMorgan Japan funds particularly benefiting here, together with our recently introduced Allianz China Fund. 

Outlook for the rest of the year and beyond

Despite data pointing towards a slowdown in the global economy, we do not expect a US recession this year or next.

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