It is pleasing to report that the portfolios performed well during 2017. The Growth portfolio gained 19.7 per cent compared with 11.3 per cent for its MSCI WMA Growth benchmark, while the Income portfolio was up 17.0 per cent compared with 9.2 per cent for its MSCI WMA Income benchmark. All figures are total return and rounded to one decimal place. A number of the portfolios’ holdings did particularly well, while their bond, property and other less correlated exposure helped to provide diversification and income.
Furthermore, as the table on the following page shows, this outperformance builds on their longer-term record. Since the portfolios’ inception in 2009, the Growth portfolio has returned 266.2 per cent compared with its benchmark return of 148.7 per cent, while the Income portfolio has returned 205.5 per cent compared with 115.1 per cent for its benchmark.
Predictions and principles