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Passive funds and chocolate: 5 DFMs Lent sacrifices

We ask 5 wealth managers what they're choosing to give up for Lent - both on a personal level and an investment basis

Not long out of Dry January and still millions of brave people around the world are choosing to give something up for this year’s Lent. Using the six-week period to abstain or give up some food or habit, they aim to improve their health or simply demonstrate self-restraint.

Not missing the opportunity to pick our readers brains, we asked five wealth managers what they are planning to give up this year – on both an investment basis and a personal level. 

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Not long out of Dry January and still millions of brave people around the world are choosing to give something up for this year’s Lent. Using the six-week period to abstain or give up some food or habit, they aim to improve their health or simply demonstrate self-restraint.

Not missing the opportunity to pick our readers brains, we asked five wealth managers what they are planning to give up this year – on both an investment basis and a personal level. 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Jonathan Moyes

Investment manager, Whitechurch Securities 

‘On a personal level, I would like to give up trying to give things up. Starting with ‘Go Sober October’, we are all perpetually bombarded with new initiatives to give this up, or give that up, or commit to five 6am gym sessions a week, etc.

‘I have recently decided life is far better when not signing up to hitting arbitrary yardsticks of whatever is the latest trendy fad!

‘On the investing front, managing risk when traditional safe haven assets look increasingly risky will be key. So I will continue to give up the strict traditional asset allocation based frameworks of old for managing risk, and maintain the duration diet.’

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Nathan Sweeney

Senior investment manager, Architas

‘I’m giving up chocolate for Lent. The whole idea is to impose a personal penance and give up something that you like. There is always plenty of chocolate in the office – why make this easy for myself.

‘High yield is an area that we have been selling. Given the correlation to equity, it’s been a good trade considering the recent sell-off. Fundamentals look fine but valuations were less attractive, which triggered the decision. Given the recent sell-off, there may be opportunities in this space. So it could be a Lenten fast that we break.’

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Neil Blankstone

Business development director, Blankstone Sington 

‘There’s no question that this year for Lent, my wife would undoubtedly like me to reduce my dependence on all things Sky Sports related.

‘On the investment side, reduce exposure to bonds – the uptick we have seen as equity markets wobbled last week gives a good opportunity to reduce; and conversely, increase exposure to structured products to take advantage of the upturn in volatility (through AHFM Defined Return fund).’

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Paul Derrien

Investment director, Cannacord Genuity Wealth Management

‘Lent can be the time of year to review how plausible a 40-day abstinence of one of your favourite indulgences is. So, as we have only just managed to get through dry January, I concluded that tonic water was impossible to live without. Instead, I have elected to try and conduct meetings and client communications without using the word ‘Brexit.’ The choice to do so involves a penalty donation to charity – it seems likely that the charity will do quite well out of this…

‘I’m going to give up worrying about how expensive equities are, as we are now back to average historical valuations without having suffered any detriment to the growth prospects of companies. Whether this will stick for 40 days or not is anybody’s guess, but the clock has been reset on multiples.’

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Ian Marsden

Investment manager, Redmayne Bentley

‘I did consider selecting my favourite tipple, gin and tonic, but I think it’s best to try to be realistic – so I will be giving up red meat instead.

‘On an investment level, the recent bout of market volatility has convinced me to reduce my allocation to passive funds, and to switch into actively managed ones instead. Although both have their advantages, I would rather a fund has a manager who can actively manage its portfolio during challenging market conditions.’

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