Performance review
The Monthly Income Portfolio returned 0.6% over the quarter while the Monthly Income and Growth Portfolio returned 0.4%. Both the portfolios outperformed their IA mixed sector performance comparators. US equities detracted from returns. but, the portfolios carry a notably lower weighting here than most peers so this helped relative returns. Strong performance from our UK and European holdings offset the drag from the US. Fixed income contributed particularly positively, while our alternatives holdings experience mixed fortunes, largely netting one another out.
