News & Views

Seneca: Peter Elston: Investment Letter

Investment news for Financial Advisers and Paraplanners

18 Oct 2018

Seneca: Peter Elston: Investment Letter

Last year we laid out a road map for a gradual reduction in our funds’ equity exposure, firstly from overweight – in relation to strategic asset allocation (SAA) – towards neutral, then from neutral to underweight. In our latest reduction at the beginning of October, we reduced equity targets for our three public funds – LF Seneca Diversified Income Fund, LF Seneca Diversified Growth Fund, and Seneca Global Income and Growth Trust – to 32.5%, 47.5%, and 52.5% respectively. These positions represent underweights in relation to SAA of 7.5%, 12.5% and 7.5% respectively – the reason the growth fund’s underweight is greater than those of the other two is that it has no requirement to distribute income so can be higher conviction with respect to its tactical asset allocation.

Read the full letter

 

Email this article Print Share on Twitter Share on LinkedIn Share on Facebook Share on Google+

Login

Not yet registered?

Please complete this form to join our community

Name
Email
Company
Select your role:
Password
Confirm Password

Visit the Seneca Investment Managers sponsor area

Read more Seneca Investment Managers articles and find out more about their Tools & Resources here..

Join the Panacea community

Join the Panacea community for free and recieve news, guides, whitepapers, event information, special offers and more!