Evelyn Partners Sustainable MPS Sells Out Of Impax Trust Amid Discount To NAV

The team explained the holding was swapped for a slightly smaller position in the trust's open-ended sister strategy, Impax Environmental Markets, as it has similar underlying exposure but is not subject to the same discount to net asset value volatility.

As part of the rebalancing exercise, the sustainable MPS team also added to its positions in Baillie Gifford Responsible Global Equity Income and Federated Hermes Sustainable Global Equity.

Advice drives 12.6% rise in operating income for Evelyn Partners

The team also increased its overall exposure to fixed income, the company said, in a bid to achieve the "desired duration exposure".

It continued to add to hedged nominal US sovereign bonds, and hedged inflation-linked US sovereign bonds in lower risk portfolios, by reducing exposure to corporate credit. Evelyn added the team's position in the Liontrust SF Monthly Income Bond was sold completely to reduce overall duration within the portfolio's credit exposure and to allocate to sovereign bonds and funds.

Genevra Banszky von Ambroz, lead manager of the Evelyn Partners sustainable MPS, said: "Sovereign bonds are offering attractive yields and should provide downside protection in these more challenging market conditions. Within the alternatives exposure, the share prices of the real assets holdings have continued to struggle in the face of rising interest rates and the relative attractiveness of fixed income, despite generally robust operating performance.

"We continue to have conviction in the diversifying characteristics, sustainability credentials and exposure to inflation-linked revenue streams that our real assets allocation offers."

RECENT NEWS

What A Rising VIX Means For Pension Funds

Wall Street’s latest selloff has moved beyond a technology-sector wobble and become a broad market event. The Nasdaq C... Read more

Behaviour Cannot Fix A Portfolio Construction Flaw

A Retiree Shouldn't Be Asked to Behave Their Way Out of a Portfolio Construction Problem Why behavioural coaching shoul... Read more

Behavioural & Retirement Portfolio Resilience

Behavioural Survivability and Retirement Portfolio Resilience Why the lived experience of market recovery matters as mu... Read more

Australia's Rate Rise Bites: Highest In 15 Years

The Reserve Bank of Australia has lifted interest rates to their highest level since 2011, and its governor admits the w... Read more

October Retirement Portfolio Resilience Assessment

Markets stabl Read more

Gyrostat September Retirement Portfolio Resilience Assessment

September Retirement Portfolio Resilience Assessment Markets have fallen. The price of risk has risen. ... Read more