Charity Responsible Multi-Asset Fund update - Q2 2019

  • Global equities rose 6% in sterling terms during the second quarter. Against this backdrop, the Responsible Multi-Asset Fund generated a total return of 4.4%, bringing its total return since the start of the year to 10%.
  • We retain a neutral position in equities. The asset class is no longer cheap, with the MSCI World index trading above its historical average, but valuations are not excessive and we still expect modest earnings growth.   
  • We remain underweight bonds, favouring alternative assets such as listed infrastructure and commercial property, and we have also increased our allocation to gold.

Look out for details of our upcoming webinar on the 23rd July, where we will discuss in more detail how we have engaged with the companies we invest in

The opinions contained herein are those of the author and do not necessarily represent the house view. This document is intended to be for information purposes only. The material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The material is not intended to provide, and should not be relied on for, accounting, legal or tax advice, or investment recommendations. Information herein is believed to be reliable but Cazenove Capital does not warrant its completeness or accuracy. No responsibility can be accepted for errors of fact or opinion. This does not exclude or restrict any duty or liability that Cazenove Capital has to its customers under the Financial Services and Markets Act 2000 (as amended from time to time) or any other regulatory system. Cazenove Capital is part of the Schroder Group and a trading name of Schroder & Co. Registered Office at 1 London Wall Place, London EC2Y 5AU. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. For your security, communications may be taped and monitored. 

Contact Cazenove Charities

Achieving your charity's investment objectives takes time and thought. To find out how we can help you please contact:

James Brennan

James Brennan

Portfolio Director