He said: “What was interesting within the research, when we looked at some of the results around how advisers were currently positioned and if they felt confident they can take advantage of these changing patterns of global trade transformation.
“Around a third of the respondents weren't overly positive on the way they're currently allocated to really be at the forefront and continue to be able to adapt and change within their portfolio to these changes.”
Miles believed advisers were working very hard with clients around cash as there were still elevated levels of allocation to this.
“What we're seeing now, with interest rates turning, is that there is an opportunity for advisers to really talk to investors who want to put money to work over the long term. And the benefits of fixed income or equity at this point in the cycle, versus leaving money in the bank when you're going to see interest rates rolling over means this is an opportune time to be having that conversation with clients,” he added.
Smith felt there was always a place for a core foundational equity allocation when advisers were constructing portfolios.
He said: “If you're building a house, you want really solid foundations and footings. And New Perspective is that equivalent. It plays that role in a client's portfolio and that's an enduring feature that a lot of advisers and private wealth managers want in a portfolio, and then upon which they can stack their high conviction, nuanced small cap value funds.”
alina.khan@ft.com
