Elston Consulting

We look forward to welcoming existing and prospective adviser clients to our upcoming post-budget conference on Wednesday 13th November 2024: “Investment solutions for the new tax regime” 1. Welcome & Introductions (with Elston's Henry Cobbe) 2. UK Economic Outlook (with FT Investor Chronicle’s Hermione Taylor) 3. Markets Outlook (with Elston's Hoshang Daroga, CFA) 4. UK Budget Review: What do the changes mean for your clients? moderated by Scott Adams 5. The “Flex First, Fix Later” Pension and Budget comment (with Steve Webb, LCP and Former Pensions Minister) 6. Panel Discussion and Q&A If you are UK-based financial adviser and would like to apply for place at our upcoming conference (in person or online), please fill in the enquiries form below. https://lnkd.in/eqgZY56g We are delighted to be working with a growing number of independent adviser firms to assist them with 1) their CIP & CRP; 2) asset allocation and fund research; 3) their inhouse or external model portfolio solutions. #elston #multiasset #investmentsolutions

We look forward to welcoming existing and prospective adviser clients to our upcoming post-budget conference on Wednesday 13th November 2024: “Investment solutions for the new tax regime” 1. Welcome & Introductions (with Elston's Henry Cobbe) 2. UK Economic Outlook (with FT Investor Chronicle’s Hermione Taylor) 3. Markets Outlook (with Elston's Hoshang Daroga, CFA) 4. UK Budget Review: What do the changes mean for your clients? moderated by Scott Adams 5. The “Flex First, Fix Later” Pension and Budget comment (with Steve Webb, LCP and Former Pensions Minister) 6. Panel Discussion and Q&A If you are UK-based financial adviser and would like to apply for place at our upcoming conference (in person or online), please fill in the enquiries form below. https://lnkd.in/eqgZY56g We are delighted to be working with a growing number of independent adviser firms to assist them with 1) their CIP & CRP; 2) asset allocation and fund research; 3) their inhouse or external model portfolio solutions. #elston #multiasset #investmentsolutions

Thank you to Alderwoman & Sheriff Dame Susan Langley and Sheriff Bronek Masojada for sportingly joining in our spin it for a minute “human helicopter” hula hoop challenge raising money and awareness for Hampshire and Isle of Wight Air Ambulance. Thank you also to the passers-by who accepted the challenge with a good sense of humour! Great to have the Elston Consulting team fully involved in City Giving Day 2024 #CGD in our little corner of the Square Mile to support The Lord Mayor's Appeal and fundraising in the City! Henry Cobbe, CFA

Andrea Acimovic signing in for Elston Consulting at LSEG (London Stock Exchange Group) to celebrate market open on City Giving Day 2024# CGD The Lord Mayor's Appeal. Thank you Andrea!

One reason to fall back in love with the Footsie is its low correlation with US/Global Equities, making it a powerful diversifier. 1. Read the article in FT Adviser https://lnkd.in/eknBBeJE 2. Watch our 3q24 Outlook: World in Transition https://lnkd.in/egamfpYW 3. For UK advisers seeking support for their investment proposition, please contact us: https://ow.ly/V83e50QyetY #elston #multiasset #investmentsolutions https://lnkd.in/eknBBeJE

Don't you love it when a plan comes together? One of the reasons we like Bond ETFs is the granularity of exposures available. This makes them a really handy and readily implementable way to introduce duration control within the bond allocation of a multi-asset portfolio. We've been recommending the Investment Committees of our DFM and IFA clients gradually to extend duration during the course of this year in anticipation of the BoE's interest rate policy "pivot". Seeing the performance of different UK Gilts Bond ETF exposures of different durations in response to that pivot looks straight out of a textbook. 1. Read the article https://lnkd.in/e_aR-5KY 2. Watch our 3q24 Outlook: World in Transition https://lnkd.in/egamfpYW 3. For UK advisers seeking support for their investment proposition, please contact us: https://ow.ly/V83e50QyetY #elston #multiasset #investmentsolutions

UK and US equities have moved in opposite directions famously in 2022 and Jan, Apr, Jun and Jul 2024. UK equities are a powerful diversifier. 1. Read the article https://lnkd.in/e5NQzaRK 2. Watch our 3q24 Outlook: World in Transition https://lnkd.in/egamfpYW 3. For UK advisers seeking support for their investment proposition, please contact us: https://ow.ly/V83e50QyetY #elston #multiasset #investmentsolutions

UK DFMs have been steadily reducing UK home bias since a peak of ~70% in 2000 when the UK's index weight was ~10%. Now a typical equity allocation has a UK weight of ~30% today, compared to an index weight of ~4%. Looking back: why was the home bias so high to start with? Looking forward: should SAAs have high, mid or no bias? In our multi-asset indices for GBP investors launched back in 2020, we thought/think "twenty is plenty," so bake in a 20% UK equity allocation within the equity basket as a strategic neutral. There are three reasons why it makes sense to include a UK allocation from a multi-asset perspective: 1. UK end clients are familiar with and focus on FTSE 100 and UK equity market performance and related funds. 2. Whilst SPIVA studies show that for US equities - it's hard to beat the index, the same study shows that within UK equities - esp small caps - there is solid potential for alpha. 3. UK equities have decorrelated from world equities (esp since 2015) so much so that they now represent an excellent true (risk-based) diversifier to pair with US/global equity funds. 1. Read the article https://lnkd.in/e5NQzaRK 2. Watch our 3q24 Outlook: World in Transition https://lnkd.in/egamfpYW 3. For UK advisers seeking support for their investment proposition, please contact us: https://ow.ly/V83e50QyetY #elston #multiasset #investmentsolutions

The deallocation from UK equities is well documented. But some asset allocators may be missing the point. The UK's LACK of correlation with global equities (compared to the US' HIGH correlation with global equities) makes a UK allocation a VERY powerful diversifier (in the true, risk-based, definition of the word). It wasn't always so - UK equity correlation only started to decouple from 2015... 1. Read the article https://lnkd.in/e5NQzaRK 2. Watch our 3q24 Outlook: World in Transition https://lnkd.in/egamfpYW 3. For UK advisers seeking support for their investment proposition, please contact us: https://ow.ly/V83e50QyetY #elston #multiasset #investmentsolutions

Don't you love it when a plan comes together? One of the reasons we like Bond ETFs is the granularity of exposures available. This makes them a really handy and readily implementable way to introduce duration control within the bond allocation of a multi-asset portfolio. We've been recommending the Investment Committees of our DFM and IFA clients gradually to extend duration during the course of this year in anticipation of the BoE's interest rate policy "pivot". Seeing the performance of different UK Gilts Bond ETF exposures of different durations in response to that pivot looks straight out of a textbook. 1. Read the article https://lnkd.in/e_aR-5KY 2. Watch our 3q24 Outlook: World in Transition https://lnkd.in/egamfpYW 3. For UK advisers seeking support for their investment proposition, please contact us: https://ow.ly/V83e50QyetY #elston #multiasset #investmentsolutions