I just received an email from Syfe informing clients about a few re-optimisation actions taken on Core portfolios as part of Syfe’s semi-annual exercise. Key changes in this re-optimisation exercise:

1. Added inflation component to bonds allocation by adding to inflation-protected US Treasury bonds ETF (TIP) for Core Growth, Balanced and Defensive portfolios
2. Enhanced tax efficiency by switching emerging markets ETF from IEMG (US-listed) to EIMI (London-listed equivalent)
3. Consolidation into S&P 500 by folding allocation to small (IJR) and mid-cap (IJH) US equity into S&P 500 (CSPX) and S&P 500 Equal Weight (RSP)

Table of Contents

• Adding inflation-protected Treasury bonds
• Enhanced tax efficiency
• Consolidation into S&P 500
• Closing thoughts

Adding inflation-protected Treasury bonds IMO, this is a good move and probably should’ve been done earlier upon inflation no longer being considered “transitory”. Oh well, better late than never I guess. If you’re not familiar with TIPs, here’s a quick primer from Investopedia: Source: Investopedia...