Equities rebounded after posting a negative return in August. As equity markets remain volatile, we expect portfolios to benefit from being underweight equities broadly and overweight defensive equities, fixed income, and gold. While we manage each portfolio individually, generally, we continue to recommend being defensively positioned. Though a shift from a slowing growth trend to a flatter growth trend in the upcoming quarters could dictate a less cautious approach in the near term.
Please let us know if you have any questions.