June 2023

Multi-Asset

With the global economy showing mixed performance in May and core inflation remaining persistently high in the US and acutely so in the UK, Will Bartleet, CIO / Portfolio Manager, and?William Thompson, CSO / Portfolio Manager, comment on key performers throughout the month and some interesting REIT opportunities.

?Longevity & Social Change

With the MSCI World equities index up 0.5% in May (in GBP), Dani Saurymper ??? , Portfolio Manager discusses key drivers and top contributors for May 2023. Dani remains confident in the teams resilient and defensive portfolio positioning and believes the outlook for the Longevity & Social Change universe remains secure.

Emerging Markets

Read the Emerging Markets commentary here as Kamil Dimmich, CFA, Portfolio Manager, comments on the strong performance from Taiwan and Brazil and the positive contributions seen across most markets apart from Korea.

?Emerging Markets Income

As we come to the end of one of the most aggressive tightening cycles in decades, Robert Holmes , Portfolio Manager, suggests it’s probably not surprising that markets have become myopically focused on macro factors. Read the commentary here.

G10 Macro Rates

May was choppy, symptomatic of a near end to a rate hiking cycle. Read the latest commentary here as Shayne Dunlap , Richard Marshall , and Oleg Gustap from the Pacific G10 Macro Rates team discuss inflation data in Europe and unprecedented hiking cycles.