00:00Kate Moore of CitiWealth writing, markets absorbed multiple shocks at once in Q1.
00:04Higher uncertainty naturally leads to higher volatility, and we expect that to persist.
00:09Kate joins us now. She is a beacon of insight at a time of a lot of cloudy signals. And
00:15Kate,
00:15what are you telling clients, given that we're all sort of hamstrung by a series of headlines
00:21that change from hour to hour? Yeah, look, this is a really tough time for all of us in markets
00:25and anyone who proclaims to have some certainty on what to invest in right now. I think we should
00:30dial that down a little bit. So I would say we're doing two things right now, not just in terms
00:35of
00:35portfolios, but also in communicating with our clients. The first is continuing to build for
00:39resilience. You know, we manage multi-asset portfolios on behalf of our clients, and we
00:44really try to think about, you know, what is going to be kind of the best positioning over the next
00:48couple quarters. We're not so prideful to say that we know what's going to happen over the next couple
00:53years. And how do we kind of shore up risk in that environment? And the second is to say,
00:58when there have been some dislocations in the market, when things have sold off, when there
01:01have been some price gaps, is this an opportunity for us to reenter some of the longer term themes
01:06that we have high conviction in? So we're taking that kind of barbell strategy, taking a very
01:10measured approach, the asset allocation, and really thinking about building resilience, and then
01:14taking the opportunity to leg into some of the medium term themes that we think are going to be
01:18very interesting for clients.
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