After a difficult February our multi-asset portfolios achieved strong outperformance during March, despite both bond and equity markets continuing to suffer significant volatility. We have continued to actively adjust our exposures, and overall as markets rallied in late March we boosted the levels of ‘dry-powder’ across our portfolios, reducing our market exposure. Looking forward, we will stick to our discipline of buying the dips and selling into the rallies, through what we expect will continue to be a challenging year for investors as markets fluctuate based on a changing economic outlook and the impact of COVID-19, stretched supply chains, rising interest rates, and fallout from the war in Ukraine.
