The Creation Portfolios delivered returns ranging from 0.3% to 1% over the second quarter of 2024. Equity market returns were the dominant driver of performance, although a strong showing from our alternatives holdings also contributed. In general, the portfolios were hindered by our equity exposures outside of the ever-dominant US tech sector as other market segments, such as US value or smaller companies, failed to keep up. Elsewhere, we increased our allocations to Japanese equity to benefit from improving corporate dynamics and more accommodative monetary policy, but we reduced our exposure to healthcare, where we are less positive in the near term, despite the sector’s structural tailwinds.
Past performance is not a guide to future performance and may not be repeated.
Investment involves risk. The value of investments may go down as well as up and investors may not get back the amount originally invested.