Investment Objective
The Fund aims to achieve a positive total return over a market cycle with a low correlation to global equities. The Fund seeks to achieve its objective through a strategic and tactical asset allocation to three asset classes: equities, debt and commodities. For the full objectives and investment policy please consult the current prospectus.
Reference Index
Euribor 3 Month Index (EUR)
Latest Meeting Note
Meeting Note 16 Aug 2017
The Invesco Macro Allocation Strategy uses a flexible investment philosophy to construct a long/short directional strategy that targets a return of 8% above its benchmark (3M Euribor). The portfolio is constructed using strategic and tac...
The Invesco Macro Allocation Strategy uses a flexible investment philosophy to construct a long/short directional strategy that targets a return of 8% above its benchmark (3M Euribor). The portfolio is constructed using strategic and tactical ranges. The strategic allocation (20% of the fund) recognises the positive long-term risk premia associated to owning equities, bonds and commodities, and targets a volatility of 3%. The remaining 80% is allocated to a tactical strategy that targets 8% volatility and is adjusted monthly to adapt to the prevailing market environment. The tactical range for each asset class can be long or short. Typically for stocks and commodities this range is +/-45% and for bonds is +/-110%. The tactical strategy allocates systematically based on an investment process that focuses on value, economic and sentiment based signals, combined with rigorous risk budgeting. The fund is manged by the Global Asset Allocation team based in Atlanta and is headed by CIO, Scott E. Wolle.
Performance
| JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC | YTD | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 0.7 | 0.3 | 0.5 | 0.2 | 1.0 | 0.2 | 0.3 | 0.8 | 0.5 | 0.3 | 0.1 | 0.5 | 0.1 | |
| 2022 | 0.1 | 0.7 | 0.8 | 0.1 | 0.9 | 0.7 | 0.3 | 0.6 | 0.6 | 0.3 | 0.7 | 0.8 | 0.0 |
