Investment Oversight: Overview of Fund and Portfolio Management
Revamped Article:
Piers Hillier's Private Markets Gameplan: RLAM's Smart Move Amid Geopolitical Chaos
RLAM boldly pivots its private markets approach to safeguard UK investments and diversify risks
Intro:David Ricketts, Wed 30 April 2025, 7 p.m.
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Getting a Grasp on UK DominanceRLAM's Chief Investment Officer, Piers Hillier, is making waves as they steer the London-based group to prioritize local markets, particularly in the tumultuous aftermath of Brexit. Hillier states that by adopting a "smart, strategic" approach, RLAM plans to shore up the UK economy, addressing the plummeting levels of inward investment[1]. This means champing the cause of homegrown sectors brimming with local expertise and structural demand.
Active Management and Agile Positioning- Shrinking Equity Exposure: In a cautious bid to navigate the stormy seas of volatility, RLAM decided to scale back equity allocations in April 2025[4]. As global uncertainties loom large (a clear reference to Trump's tariff announcements and skyrocketing inflation risks), they're keeping a tight rein on potential dangers.- Multiverse Diversification: While Trevor Greetham's team is heavily invested in commodities, gold, and UK/EM equities, they're reluctant to bet big on pricy US growth stocks[3]. The GMAP Balanced fund bears witness to this calculated strategy.
Structural Themes fueling the Strategy- Spikeflation Buster: RLAM sees populism, deglobalization, and supply-chain fragmentation as key catalysts for inflationary havoc. Their portfolios are armed to the teeth with inflation safeguards, such as commodities, and engineered to slidenimbly across the rollercoaster of sudden shocks[2].- Liquidity-focused Funds: When it comes to corporate bonds, RLAM stresses a measured approach that takes liquidity risks into account, especially with funds growing in size. Case in point? Their £1.6bn Corporate Bond fund strives for strategic trading to weather the toughest setbacks[5].
Advantages that put RLAM in the Driver's Seat- Strong UK Roots: RLAM's extensive UK presence empowers them to seize local assets with minimal global competition[1][5].- Agile Asset Switching: Harnessing macroeconomic insights, such as their Investment Clock framework, they're free to dance between asset classes with grace and agility[2][3].- Inflation-proof Portfolios: By proactively incorporating real assets, they're well-positioned to triumph during inflationary regimes—whether brought on by trade wars or supply chain disruptions[2][4].
In a world fraught with policy unpredictability, RLAM aims to strike a delicate balance between homegrown resilience and diverse global exposure. With eyes on the prize and a keen strategic mindset, they're ready to weather the geopolitical storm.
- In 2025, RLAM's Chief Investment Officer, Piers Hillier, implemented a strategic approach to prioritize UK investments and mitigate risks, focusing on local markets post-Brexit.
- In an effort to navigate volatile markets, RLAM decided to reduce equity allocations in April 2025, diversifying into commodities, gold, and UK/EM equities to avoid overexposure to pricy US growth stocks.
- By 2025, RLAM had developed portfolios equipped with inflation safeguards, such as commodities, to thrive during periods of inflation, whether triggered by trade wars or supply chain disruptions.
- With an extensive UK presence, RLAM capitalizes on local assets, giving them a competitive edge amid minimal global competition, while employing agile asset switching to dance between asset classes based on macroeconomic insights.
