Ciao Babbo!!

R.I.P.

September Allocation

Unfortunately my holiday were deleted and not because of financial markets....
By the way, I'm going to update with a short post the September allocation

MODEL 1 - Euro gov 1-3y or in alternative sight deposits with a plus rate (100%)

MODEL 2 - Euro gov 1-3y or in alternative sight deposits with a plus rate (100%)

MODEL 3 - Euro gov 1-3y or in alternative sight deposits with a plus rate (50%)
                      Euro high yield (50%)

MODEL 3.v4 - Euro gov 1-3y or in alternative sight deposits with a plus rate (34%)
                          Japanese government bonds (33%)
                          Euro floating rates (33%)

Below the table and the chart with monthly and year to date (YTD) performance

Corrections: In August allocation Model 2 YTD return was wrong. The real one was 5,06% (ie 5,1%) instead of 5,6% I wrote.Model 3 YTD was wrong as well in the table. The line graph performance was correct.


MODEL 4 -Euro govies 1-3 years or sight deposit with a positive rate (100%)
at the moment it continues to underperform  EW benchmark approx 6% this year

MODEL 4 US - US Treasuries 1-3 years (89%)
                            Global bond (11%)
at the moment it is underperforming EW benchmark by 0.8%.

it's normal it's underperforms in momentum reversal market. It's scope is to avoid huge losses over long term.

SUMMARY: in a market where momentum seems over, models are suffering but continue to be positive year to date. Now they are positioned very defensive expecting for a clearer direction in coming months. It's a pity that short term rates are negative for institutional and this mean losing money. As a retail people, is still possible to take a positive rate, or at least 0% on sight deposits