The Boring Bit of the Portfolio

Thrugelmir

m_c_s said:

Also I have noticed that CGT has increased its equity % quite a bit over the last year or so from 30 to 40%. 

Equities can take various forms. In terms of exposure that 44% is broken down as 

Equities 20%
Property 18%
Loans 4%
Infrastructure 2%

pip895

Yes my equity % went up to just under 75% at one point but I got nervous about valuations mid October.  Made a nice profit when I sold but overall performance was a bit tempered by the Property funds and a relatively high % in the UK.
I will up my investment in PNL and add some CGT - I will also top up my gold to 5% I think - It was nice to see just a little bit of blue among the sea of red when the market went south. May up the % in Equity too if a suitable opportunity presents itself - I want to get to just under 10% cash I think.

quirkydeptless

pip895 said:

I will up my investment in PNL and add some CGT - I will also top up my gold to 5% I think

Note that both of these invest in gold currently, so take that into account when considering your allocation.

Mothman

m_c_s said:

Also I have noticed that CGT has increased its equity % quite a bit over the last year or so from 30 to 40%. 

Not unusual for Wealth Preservation funds as they have a high degree of liquidity and the managers will often increase their equity holdings when they deem the prices to be favourable.

pip895

Thrugelmir said:

m_c_s said:

Also I have noticed that CGT has increased its equity % quite a bit over the last year or so from 30 to 40%. 

Equities can take various forms. In terms of exposure that 44% is broken down as 

Equities 20%
Property 18%
Loans 4%
Infrastructure 2%

So I should really consider my property funds as equity not "non equity" presumably HY bonds the same?  What are Loans - how do they differ from bonds -aren't corporate bonds and gilts essentially loans to??  Sorry if that is a numpty question..  The likes of CGT & PNL are essentially multi asset funds managed to preserve capital - do they really count as "non equity" on the other hand do I really want a large percentage of my portfolio in a mixture of government bonds and investment grade corporates at the moment?

What % of "alternative assets" do others in the early deaccumulation/just retired phase hold?

Aminatidi

I have around 85% of my investments split 50/50 between Capital Gearing Trust and Personal Assets trust.
In spite of their very cautious reputation they still have 40% or slightly more equity exposure.
I'm also considering taking out a small position in Ruffer and possibly building it but I'm less convinced by Ruffer.
All three would seem to be options I'd consider if I wanted to outsource a chunk of my money for low-volatility and (to date) proven long term management.

pip895

Aminatidi said:

I have around 85% of my investments split 50/50 between Capital Gearing Trust and Personal Assets trust.
In spite of their very cautious reputation they still have 40% or slightly more equity exposure.
I'm also considering taking out a small position in Ruffer and possibly building it but I'm less convinced by Ruffer.
All three would seem to be options I'd consider if I wanted to outsource a chunk of my money for low-volatility and (to date) proven long term management.

Is that 85% of all your investments?  - so you are relying on their equity % to provide growth or is that just 85% of the "alternative" part of your portfolio?

Aminatidi

pip895 said:

Aminatidi said:

I have around 85% of my investments split 50/50 between Capital Gearing Trust and Personal Assets trust.
In spite of their very cautious reputation they still have 40% or slightly more equity exposure.
I'm also considering taking out a small position in Ruffer and possibly building it but I'm less convinced by Ruffer.
All three would seem to be options I'd consider if I wanted to outsource a chunk of my money for low-volatility and (to date) proven long term management.

Is that 85% of all your investments?  - so you are relying on their equity % to provide growth or is that just 85% of the "alternative" part of your portfolio?

This is my entire portfolio which currently stands at around £215K.

There's also around £60K in cash and NS&I Index Linked Savings Certificates.

Personally I dislike volatility and have moved in a couple of years from that money being "safe" cash in the bank to being invested so seeing it lose £70K which is what it would have done in March albeit temporarily doesn't really appeal.

So rightly or wrongly I try and "barbell" slightly by being cautious and sleeping well with the majority of my money and hoping for aggressive growth with a smaller percentage.

I'm sure people will have a view on whether that's a good or bad decision on my part but I sleep at night.

% Weight	Sector
1	Troy Asset Management Personal Assets Trust PLC Ord GBP12.50	43.6%	[N/A]
2	CG Asset Management Capital Gearing Trust Plc Ord GBP0.25	43.0%	[N/A]
3	Baillie Gifford & Co Baillie Gifford US Growth Trust plc Ord GBP0.01	7.2%	[N/A]
4	Baillie Gifford & Co Scottish Mortgage Investment Trust Plc Ord GBP0.05	6.1%	[N/A]
5	Cash	0.1%	[N/A]

pip895

That's interesting Aminatid - you have about 37% Equity  (adding in your cash and assuming 40% of the wealth preservation funds are equity).  My figure is 70% if HY bonds and property count as equity.

Aminatidi

pip895 said:

That's interesting Aminatid - you have about 37% Equity  (adding in your cash and assuming 40% of the wealth preservation funds are equity).  My figure is 70% if HY bonds and property count as equity.

I don't include the cash though I appreciate it's probably considered standard to do so.

I know that you can't buy past performance but I find it fascinating if you look at the long term performance of funds and trusts that are considered "defensive" or generally low convention equity exposure and compare them against 100% equities.

I'm perhaps more of the "slow and steady wins the race" mindset but it took me long enough to save it up and I put a value on preserving it whilst growing it.