Multi-Asset team
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Global Macro Allocation Strategy

Seeking to compound attractive returns over time

Strategy overview

Investment Approach
Combines top-down thematic and macro insights with rigorous bottom-up analysis. Enhanced ESG and sustainability integration through our direct investment approach

Investment Opportunity
A thematic and flexible strategy that aims to compound high total returns through time

Investment Universe
Liquid global equity, fixed income and currency markets

Target Return
+7% p.a. (gross) over the full market cycle

Jimmy Elliot
Portfolio Manager
Iain Cunningham
Head of Multi-Asset Growth
Alex Holroyd-Jones
Portfolio Manager

The role the strategy can play in portfolios

Access to team's macro views

Positioning offers investors transparent access to thematic and cyclical high conviction asset allocation views

An alternative to balanced / equities

Designed to replace balanced and equity only approaches - seeks to compound returns more reliably than benchmark-orientated approaches

Aims to help return shortfalls

Flexible investing across a broad opportunity set aims to help meet return shortfalls investors may face

Seeks to provide differentiated total returns

Our countercyclical approach to asset allocation aims to provide diversification in return signature at different stages of the cycle

Investment Philosophy

01

Long-term macro themes influencing the global economy create structural headwinds and tailwinds

02

Maximising the opportunity set increases the likelihood of finding opportunities through the cycle

03

There are times to expose portfolios to more risk and times to expose portfolios to less risk, with the size of risk premia on offer varying materially over time

Key facts

  • Asset Subclass

    Multi-Asset Growth

  • Currency

    USD

  • Inception date

    01/08/2016

  • Team

    Multi-Asset team

  • Geographical Focus

    Global

  • ESG Classification

    Enhanced Integration

  • Comparative Benchmark

    7% Absolute

Portfolio & Holdings

Date as of 30/11/2024
ASML Holding NV
2.2
AIA Group Ltd
1.8
KLA Corp
1.5
Canadian National Railway Co
1.4
Elevance Health Inc
1.3
Diageo Plc
1.3
NetEase Inc
1.2
TKO Group Holdings Inc
1.2
Rockwell Automation Inc
1.1
London Stock Exchange Group Plc
1.1
Based on a related portfolio within the strategy with substantially similar objectives as those of the services being offered. The portfolio may change significantly over a short space of time. This is not a buy, sell or hold recommendation for any particular security. For further information on Indices and Specific Portfolio Names, please reference the sections in https://ninetyone.com/-/media/documents/miscellaneous/91-further-information-en.pdf.

Why Ninety One for Global Macro Allocation Strategy

01

Specialists across macro, equities, fixed income, currency and quantitative analysis with a strong 30 year track record in global multi-asset investing

02

Thematic and bottom-up integration: Investment process designed to combine top-down thematic and macro insights with rigorous bottom-up analysis

03

Actual asset allocation: Evidence of taking significant asset allocation decisions over both the shorter and longer-term to benefit the return profile

04

Investors not traders: Investing in macroeconomic themes with a medium to long-term investment horizon, with research supported by the Ninety One Investment Institute

Strategy Literature

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Risks

Currency Exchange

Changes in the relative values of different currencies may adversely affect the value of investments and any related income.

Default

There is a risk that the issuers of fixed income investments (e.g. bonds) may not be able to meet interest payments nor repay the money they have borrowed. The worse the credit quality of the issuer, the greater the risk of default and therefore investment loss.

Derivatives

The use of derivatives may increase overall risk by magnifying the effect of both gains and losses leading to large changes in value and potentially large financial loss. A counterparty to a derivative transaction may fail to meet its obligations which may also lead to a financial loss.

Emerging and Frontier Market (inc. China)

These markets carry a higher risk of financial loss than more developed markets as they may have less developed legal, political, economic or other systems.

Equity Investment

The value of equities (e.g. shares) and equity-related investments may vary according to company profits and future prospects as well as more general market factors. In the event of a company default (e.g. insolvency), the owners of their equity rank last in terms of any financial payment from that company.

Interest Rate

The value of fixed income investments (e.g. bonds) tends to decrease when interest rates rise.

The content of this website is made available for informational purposes only and should not be construed as an offer, marketing, solicitation or investment advice with respect to any investment products or services. The website has not been reviewed or approved by any regulatory authority and may contain information with respect to investments products that may not be registered in some jurisdictions.

Although we believe any information obtained from external sources to be reliable, we have not independently verified it, and we cannot guarantee its accuracy or completeness (ESG-related data is still at an early stage with considerable variation in estimates and disclosure across companies. Double counting is inherent in all aggregate carbon data).

Any decision to invest in the Strategy described should be made after reviewing the offering document and conducting such investigation as an investor deems necessary and consulting its own legal, accounting and tax advisors in order to make an independent determination of suitability and consequences of such an investment. This material does not purport to be a complete summary of all the risks associated with this Strategy. A description of risks associated with the Strategy can be found in the relevant offering or other disclosure documents where applicable. Copies of such documents are available upon request.

Additional information on our investment strategies not found here (ninetyone.com/-/media/documents/miscellaneous/91-further-information-en.pdf) may be provided on request.

For more information on our Ninety One ESG Classification, please click here

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