As ever, if you have any questions about the below research please do not hesitate to contact us.
The new funds for each Dynamic Portfolio will be listed below, or alternatively you can view the new funds on the designated Portfolio Library page.
Performance Graphs will be over their review period unless stated otherwise.
The Dynamic Portfolio’s below are sorted A-Z.
Commentary
There are three Dynamic Portfolios up for review this month:
· Dynamic Japan 3-Month Portfolio
· Dynamic UK Blended Portfolio
· Dynamic World ex-UK Portfolio
Dynamic Japan 3-Month Portfolio
Another solid three months for Japan, with the portfolio up 5.89% against the TSE Topix up 4.78%. Japan continues to reward patient investors - political stability, ongoing corporate reforms and attractive valuations relative to other developed markets remain the backdrop. The portfolio switches from M&G Japan into a more boutique fund house JK Japan Fund for the next period.
· Since inception (Feb '00) +626.43% vs TSE Topix +175.87%
Dynamic UK Blended Portfolio
A good six months for the UK, though this dynamic portfolio slightly underperformed the FTSE 100 over the period (up 6.91% against the FTSE 100 up 8.12%). The UK has been one of the strongest performing major markets over the past year, though the performance has been concentrated in large caps. All three funds change for the next period, with the new holdings reflecting value-oriented UK equity exposure.
· Since inception (May '00) +2,131.57% vs FTSE 100 +316.96%
Dynamic World ex-UK Portfolio
The portfolio returned 5.41% over six months, fractionally behind the FTSE World ex-UK index at 5.63%. The shift in this portfolio is worth noting, moving away from US exposure and rotating into Asia, with two of the three new holdings focused on the Asia Pacific region and China specifically. This reflects the breadth of the strong performance across Asia over the past six months.
· Since inception (May '00) +1,214.19% vs FTSE World ex-UK +659.06%
- Dynamic Japan 3-Month Portfolio
3-Month Review
Dynamic Japan 3-Month Portfolio: up 5.89%
TSE Topix: up 4.78%
Review Period Performance Chart
Performance Table
Name | 3m | 6m | 1yr | 3yr | 5yr | Since Inception (Feb 00) |
|---|
Dynamic Japan 3-Month Portfolio | 5.89 | 9.94 | 43.74 | 70.70 | 52.19 | 626.43 |
TSE Topix | 4.78 | 8.55 | 27.50 | 54.58 | 54.69 | 175.87 |
Risk Table
Name | Worst Month (Since Jun 20) | 5 Year Volatility * | 5-Year Monthly VaR** |
|---|
Dynamic Japan 3-Month Portfolio | -17.55 | 15.37 | -7.48 |
TSE Topix | -10.42 | 12.09 | -6.15 |
Review Table
- Dynamic UK Blended Portfolio
6-Month Review
Dynamic UK Blended Portfolio: up 6.91%
FTSE 100: up 8.12%
Review Period Performance Chart
Performance Table
Name | 6m | 1yr | 3yr | 5yr | Since Inception
(May 00) |
|---|
Dynamic UK Blended Portfolio | 6.91 | 25.42 | 38.05 | 40.67 | 2131.57 |
FTSE 100 | 8.12 | 26.27 | 47.11 | 78.77 | 316.96 |
Risk Table
Name | Worst Month (Since Jun 20) | 5 Year Volatility * | 5-Year Monthly VaR** |
|---|
Dynamic UK Blended Portfolio | -8.26 | 12.08 | -5.61 |
FTSE 100 | -6.18 | 10.08 | -4.65 |
Review Table
- Dynamic World ex-UK Portfolio
6-Month Review
Dynamic World ex-UK Portfolio: up 5.41%
FTSE World ex-UK Index: up 5.63%
Review Period Performance Chart
Performance Table
Name | 6m | 1yr | 3yr | 5yr | Since Inception
(May 00) |
|---|
Dynamic World ex-UK Portfolio | 5.41 | 28.97 | 56.43 | 35.39 | 1214.19 |
FTSE World ex-UK Index | 5.63 | 31.18 | 64.98 | 79.82 | 659.06 |
Risk Table
name | Worst Month (Since Jun 20) | 5 Year Volatility * | 5-Year Monthly VaR** |
|---|
Dynamic World ex-UK Portfolio | -12.94 | 15.86 | -6.47 |
FTSE World ex-UK Index | -6.69 | 11.85 | -4.70 |
Review Table
*A measure of the size and frequency of short-term changes in the value of an investment.
**Monthly Value at Risk (VaR). A VaR of 6% means that in 19 months out of 20 you should not, on average, expect a fall in the capital value of more than 6% in any one month. The VaR of a typical UK stock market fund is 6%, for reference.