Key takeaways:
- Exposure to international equities was increased by 0.25%-1.5%
- Exposure to US equities was decreased by 0.25%-1.5%
- Our exposures to the other asset classes were rebalanced back to target
Tactical update – April 16, 2024
We modestly increased our exposure to international equities for two main reasons:
- At the moment, we’re observing that sector valuations in Europe appear attractive relative to the US, even taking into account the variation in index composition.
- Although the sentiment towards China is largely negative, there are some early indications of stabilization. If this trend continues, we expect our Chinese holdings to benefit directly, as will our positions in Europe, which is a key exporter to China.
Empire Life Emblem® Portfolios: Asset allocation update
*Change in asset mix from April 11, 2024 to April 15, 2024
Empire Life Emblem® Global Portfolios: Asset allocation update
*Change in asset mix from April 11, 2024 to April 16, 2024
Empire Life Investments Inc. is the Portfolio Manager of certain Empire Life segregated funds. Empire Life Investments Inc. is a wholly-owned subsidiary of The Empire Life Insurance Company.
Empire Life Emblem GIF Portfolios currently invest primarily in units of Empire Life Mutual Funds.
A description of the key features of the individual variable insurance contract is contained in the Information Folder for the product being considered. Any amount that is allocated to a Segregated Fund is invested at the risk of the contract owner and may increase or decrease in value.
Policies are issued by The Empire Life Insurance Company. Past performance is no guarantee of future performance.
This document includes forward-looking information that is based on the opinions and views of Empire Life Investments Inc. as of the date stated and is subject to change without notice. This information should not be considered a recommendation to buy or sell nor should they be relied upon as investment, tax or legal advice. Information contained in this report has been obtained from third party sources believed to be reliable, but accuracy cannot be guaranteed. Empire Life Investments Inc. and its affiliates does not warrant or make any representations regarding the use or the results of the information contained herein in terms of its correctness, accuracy, timeliness, reliability, or otherwise, and does not accept any responsibility for any loss or damage that results from its use.
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May 2024
