SJP tilts away from corporate bonds and emerging markets in multi-asset rebalance

As part of SJP's regular portfolio review process, the firm made a £2bn cut to its investment-grade corporate bond allocations, reflecting what it described as "narrower valuation opportunities" relative to government bonds. Increased overlap with technology companies was also cited as a reason for the decision, following a period of heavy corporate bond issuance in addition to their prominence in global equity markets. The team has since favoured conventional and inflation-linked government bonds, with increased allocations across all three ranges. The Polaris Multi-Index and InRe...