Portfolio Service Rebalance: Communication via E-Sign

The take-up of our recently-launched Portfolio Service continues apace. As of now, approximately £150 Million of our clients’ Investment and Pension funds are invested in the Portfolio Service, and for a number of these portfolios, a fund rebalance is imminent.

Portfolio service rebalance
Our Legal & Medical Investment Fund Committee has recently reviewed our Model Portfolios, and as a result we have launched updated versions of our ‘Cautious Income’ and range of active portfolios to reflect some changes to the underlying investment strategy and funds in reaction to recent economic events. 

Our recommended changes, and why?

We have seen a strong bounce-back globally from the Covid-19 pandemic. Most markets are close to, or beyond their pre-pandemic levels, with confidence increasing that the worst of the covid crisis is now behind us. An additional positive is that there is growing evidence that the global roll-out of vaccination programmes is helping bolster us against any potential new wave of infections. 

The US, and large-cap US companies such as; Apple, Microsoft, Amazon and Tesla have all done well. However, compared to the US, we feel the UK stock market is undervalued and could have further recovery opportunities ahead. The changes we want to make will reflect just that. The adjustments we will be making are strategic rather than a major overhaul, affecting between 5% and 10% of assets in several Active Portfolios.

We are advising a rotation from larger-cap global companies into smaller companies across most of the Active Portfolios. These smaller companies will not only be in the US but also the UK. 

Our aim is to increase diversification across the portfolios, not only in terms of the size of companies the portfolios invest in, but also by adding a little more to the UK markets which we feel is a little underrated, therefore offers growth potential compared to some other global sectors.

What does this mean to you?

This means that, for those clients already invested in our Model Portfolios, your investments will need to be rebalanced into the updated version.

We will, therefore, be issuing a communication confirming our recommendation to everyone in the affected portfolios, recommending you rebalance your investment accordingly as part of the Legal & Medical Portfolio Service.

The Model Portfolios affected are;

  • Legal and Medical Cautious Income
  • Legal and Medical Cautious Active
  • Legal and Medical Moderately Adventurous Active
  • Legal and Medical Adventurous Active
  • Legal and Medical Speculative Active

If you are affected, what should you look out for?

We will shortly be issuing a request via E-Sign, to obtain your approval. Please check your emails for our request. This will be sent via E-Sign from no-reply@e-sign.co.uk and will include their logo.

Portfolio Service rebalance: Communication via e-sign

On receipt of the email, you will simply need to click “agree” to confirm that you are happy for the rebalance to be actioned. Please do not ignore this communication as we cannot make any changes without your consent.

Once we receive your confirmation, the rebalance will be carried out in a timely manner and confirmation will be issued once the rebalance has been completed.

We are trying to make everyone’s life easier in terms of what to expect, and of course to grow your money as best we can! Thank you in advance for looking out for this communication. 

Should you have any queries please don’t hesitate to comment below or contact your usual adviser.

Written by Malcolm Norris, Senior IFA and Chair of our Investment Committee here at Legal and Medical Investments.


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