Strategy & economics

Model Portfolio Service: Q1 2019 update


Steven Rooke

Steven Rooke

Portfolio Director, Head of DFM Investment Strategy

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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.

This article is issued by Cazenove Capital which is part of the Schroder Group and a trading name of Schroder & Co. Limited, 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. Nothing in this document should be deemed to constitute the provision of financial, investment or other professional advice in any way. 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. This document may include forward-looking statements that are based upon our current opinions, expectations and projections. We undertake no obligation to update or revise any forward-looking statements. Actual results could differ materially from those anticipated in the forward-looking statements. All data contained within this document is sourced from Cazenove Capital unless otherwise stated.

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