Asset Allocation Strategy
First Quarter Managed Funds Report
Mon 22nd February, 2021

Despite the lingering shadow of COVID-19 in much of the world, we believe prospects for risk assets remain constructive over the coming year.

The global vaccine rollout will allow global activity to normalise, and economic growth will improve quite markedly as we move through 2021. This will facilitate a strong global earnings recovery over the next couple of years.

Near-zero rates, massive fiscal stimulus, and high household savings rates are laying the foundations for a synchronised global economic recovery that will likely surprise to the upside. Equities – particularly lagging cyclical and value names – should climb higher over the coming year as economic growth bounces back.

Against this backdrop of recovery, our quarterly managed funds report outlines the pathway best-suited to deliver on our current asset allocation strategy. As well as featuring the funds best placed to implement our tactical asset allocation position, we:

  • Detail our case for an allocation to private equity
  • Detail our case for an allocation to infrastructure
  • Provide a monthly and quarterly manager performance update

    Disclaimer and disclosures

    Recommendation structure, definitions and the Financial Services Guide (“FSG”) can be found at


    This document has been prepared by Wilsons Advisory and Stockbroking Limited (AFSL 238375, ABN 68 010 529 665) (“Wilsons”) and its authors without consultation with any third parties, nor is Wilsons authorised to provide any information or make any representation or warranty on behalf of such parties. Any opinions contained in this document are subject to change and do not necessarily reflect the views of Wilsons. This document has not been prepared or reviewed by Wilsons' Research Department and does not constitute investment research. Wilsons makes no representation or warranty, express or implied, as to the accuracy or completeness of the information and opinions contained therein, and no reliance should be placed on this document in making any investment decision. Any projections contained in this communication are estimates only. Such projections are subject to market influences and contingent upon matters outside the control of Wilsons and therefore may not be realised in the future. Past performance is not an indication of future performance.

    In preparing the information in this document Wilsons did not take into consideration the investment objectives, financial situation or particular needs of any particular investor. Any advice contained in this document is general advice only. Before making any investment decision, you should consider your own investment needs and objectives and should seek financial advice. You should consider the Product Disclosure Statement or prospectus in deciding whether to acquire a product. The Product Disclosure Statement or Prospectus is available through your financial adviser.

    Wilsons and Wilsons Corporate Finance Limited (ABN 65 057 547 323, AFSL 238 383) and their associates may have received and may continue to receive fees from any company or companies referred to in this document (the “Companies”) in relation to corporate advisory, underwriting or other professional investment services. The directors of Wilsons advise that at the date of this report they and their associates may have relevant interests in the securities of the Companies. Please see relevant Wilsons disclosures at

    • Share This Article

    Written by

    David Cassidy , Head of Investment Strategy

    David is one of Australia’s leading investment strategists.

    Related articles