Mandatum Life Allocation portfolio management – November

ML Allocation basket returns were between -0.4% and +0.8% in November.

We decreased equity weight to moderate underweight in our allocation. We sold our holdings in Mercer’s fund which invests globally in small cap companies and reduced the weight of the ML European Small & Mid Cap investment basket. In addition, we reduced the weight of an ETF that invests in the S&P 500 index in the US market in November and again in early December.

Since September, we have gradually increased emerging market debt, which has proved successful. Emerging markets are supported by the stabilization of local currencies after the sharp depreciation in the summer and by the potential weakening of the dollar due to the Fed’s statements.

Over the course of the autumn, there have been additional indications suggesting that economic growth will slow down next year. The likelihood of a downturn in the US has increased during the year, but the level of probability is still low. At the same time, the likelihood of negative surprises has increased as forecast uncertainty has grown.

Find the reports:
Mandatum Life Allocation Fixed Income
Mandatum Life Allocation 25
Mandatum Life Allocation 50
Mandatum Life Allocation 80
Mandatum Life Allocation Equity