Portfolio Update- March 2023!
Portfolio Performance YTD!
The recent developments have led to the underperformance of US stocks compared to their peers, while bond bulls seem to have struck back.
The playbook remains the same as discussed in December, and those who have not read it can now read the Global Outlook 2023 here.
Since we have been “massively” underweight US Stocks, overweight EM, long Gold and short the HY Credit, we have again started to outperform the benchmark.
PS: We have marginally outperformed (35 bps) our benchmark 60:40 portfolio. The 60:40 portfolio comprises 60% allocation in MSCI World Index (equities) and 40% in Bloomberg Global Aggregate (bonds).
Note that all the returns are inclusive of dividends.
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