Q1 2026
MPS QUARTERLY UPDATE
What were the key changes this quarter?
We reduced our alternatives weight, taking some profits on what had been a good start to 2026. The composition of the alternatives bucket has also been adjusted with the addition of Cohen & Steers Diversified Real Assets fund. This fund gives us more international diversification and exposure to commodities and natural resource equities, which have been good hedges against geopolitics.
With the proceeds of this alternatives sale, in our lower risk mandates, we mainly added to fixed income where we are getting very attractive yields and significant diversification benefits.
In the higher risk mandates, we recycled the capital from the alternative sales into equity, with one notable new addition being India, a market we think has fantastic long term potential and a market with significant tailwinds we expect to come to the fore over the next 12 months.
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