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Outcome Wealth Management manages portfolios comprised of large, liquid ETFs. Our strategies are designed to provide efficient global diversification, offer better protection in bear markets, and deliver higher long-term returns.
GTAA Growth (USD-based accounts)
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2017 | -- | -- | -- | -- | -- | -- | -- | 1.3% | 0.9% | 1.1% | 0.5% | 1.4% | 5.4% |
2018 | 2% | -3.4% | -0.2% | -0.1% | 0.4% | 0.6% | 1% | 0.7% | -0.4% | -2% | -0.1% | 0.9% | -0.8% |
2019 | 1.1% | 0.3% | 1.6% | 1.5% | -2.9% | 1.3% | -- | -- | -- | -- | -- | -- | 2.9% |
GTAA Growth (CAD-based accounts)
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2017 | -- | -- | -- | -- | -- | -- | -- | 0.1% | 0.5% | 1.6% | 0.5% | 1.3% | 7.7% |
2018 | 1.3% | -2.7% | -0.3% | -0.2% | 0.6% | 0.8% | 0.9% | 0.9% | -1.1% | -1.7% | 0.2% | 1.6% | 0.2% |
2019 | 0% | 0.7% | 1.4% | 1.5% | -2.9% | 0.7% | -- | -- | -- | -- | -- | -- | 1.3% |
In June, the GTAA strategy was defensively positioned, with three 10% long positions in U.S. REITs, U.S. Preferred Shares and emerging market sovereign bonds. The remainder of the portfolio was 17.5% invested in long-term U.S. Treasuries and 52.5% invested in short-term U.S. investment grade bonds.
All five exposures rose during the month as both pro-cyclical and defensive assets rallied in response to expectations that the Federal Reserve will begin aggressively lowering interest rates. U.S. REITs rose 1.54%, emerging market bonds were up 3.51%, and U.S. preferred shares advanced 1.3%, while our positions in Treasuries and investment grade bonds rose 0.95% and 0.96%, respectively.
For July, our portfolio has added some risk, moving up our pro-cyclical exposure from 30% to 70%. We maintained our 10% exposures in U.S. preferred shares and emerging market sovereign bonds, while liquidating our position in U.S. REITs. In addition, we added 10% long positions in U.S. stocks, Eurozone stocks, Japanese stocks, emerging market stocks, and U.S. high yield bonds. The remaining 30% of the portfolio is evenly split between long-term Treasuries and short-term U.S. investment grade bonds.