Caution Given Recent Market Moves and Myriad Risks
ISG “Alpha Meeting” Notes for July 10, 2020
Each month, the State Street Global Advisors Investment Solutions Group (ISG) meets to debate and ultimately determine a Tactical Asset Allocation (TAA) that can be used to help guide near-term investment decisions for client portfolios. By focusing on asset allocation, the ISG team seeks to exploit macro inefficiencies in the market, providing State Street clients with a tool that not only generates alpha, but also generates alpha that is distinct (i.e., uncorrelated) from stock picking and other traditional types of active management. Below are some of the highlights from the ISG team’s most recent “Alpha Meeting”
Asset Class Views Summary
Overall, we are underweight risk assets, with a modest allocation to gold; we favour credit within fixed income.