Evelyn Partners has rebalanced its sustainable model portfolio service (MPS) range by adding to its pool of equity funds across the six risk models.
Atlas Global Infrastructure has been added to all models, while the Alquity Future World fund replaces the Stewart Global Emerging Markets Sustainability fund in the balanced, growth, adventurous and maximum growth ranges due to its “high correlation” with holdings in the Stewart Asia Pacific Sustainability fund.
Ishares MSCI Japan SRI ETF has replaced Xtrackers MSCI ESG Japan ETF as, according to Evelyn, it is “more concentrated and offers greater diversification benefits than the product it replaces”.
Meanwhile, the wealth manager has upped the weighting to fixed income across its sustainable MPS range. Equities, alternatives and cash were reduced at the lower risk end of the range.
At the higher end, equity exposure remains untouched, with increased fixed interest weightings funded from alternatives and cash. In the sustainable maximum growth risk model, cash weighting was increased at the expense of alternatives.
Genevra Banszky von Ambroz, lead manager of the Evelyn Partners sustainable MPS, said: “The overall intention of this rebalance was to further improve diversification across the portfolios, whilst taking advantage of market opportunities where they present themselves, after what has been a punishing quarter for most asset classes.”
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In recent weeks, several MPS ranges have been rebalanced in favour of fixed income. Parmenion and Waverton both made the shift, citing concerns over a possible recession in the months ahead, while Quilter increased its traditional fixed income weighting due to the “challenging” economic environment in the United Kingdom.
See also: Evelyn Partners CEO lauds ‘robust’ Q3
