Our story so far
In summer 2009, the year before the first iPad was released, we launched the first two funds in our multi-asset fund range; the Rathbone Strategic Growth Portfolio and the Rathbone Total Return Portfolio.
The funds were launched with definitive return and risk objectives which were very easy for investors to understand and determine value. We also had a unique way of classifying asset classes using our Liquidity, Equity-type risk, and Diversifiers (LED) framework, focusing on liquidity risk and forward looking correlations between investments in stressed market conditions which were designed to minimise drawdowns.
Over the next decade or so we expanded the range to include new funds in other areas of the risk spectrum and now sit with a full range that will cover the risk
While change is constant our focus remains the same, deploying our clients’ capital in the most efficient way possible. To us, this means that each and every position must continually justify its place in the fund; either hedging a risk, or being an engine for long-term returns. Investing directly rather than using solely third party funds enables to us to invest with more precision.
The investment environment is dynamic and this necessitates an evolving rather than static investment process. Challenge is key to success whether it’s amongst ourselves, the management teams we invest alongside or the consensus. We will continue to look for and embrace change.
Multi-Asset Milestones
multi asset invseting at rathbones
Introducing the Liquidity, Equity-type risk and Diversifiers (LED) framework
Our LED approach recognises that assets behave differently in different market conditions. The LED (liquidity, equity-type risk and diversifiers) risk framework supports a forward-looking approach to strategic asset allocation. By dividing asset classes into three distinct categories we are better able to control and manage risk.
Liquidity
Assets that we expect to be easy to buy and sell during periods of market distress or dislocation, and at a sensible price, such as government bonds, high-quality corporate bonds and cash.
We also may expect to see these assets be negatively correlated to equities during these periods of stress or dislocation in markets.
Assets that can be sold easily, low credit risk but may carry interest rate and currency risk.
— cash, US dollars, euros and yen
— government bonds:
— conventional
— index linked
— UK and overseas
— high-quality investment grade (A+ and above)
Equity-type risk
Assets that we expect to be easy to buy and sell during periods of market distress or dislocation, and at a sensible price, such as government bonds, high-quality corporate bonds and cash.
We also may expect to see these assets be negatively correlated to equities during these periods of stress or dislocation in markets.
Assets that can be sold easily, low credit risk but may carry interest rate and currency risk.
— cash, US dollars, euros and yen
— government bonds:
— conventional
— index linked
— UK and overseas
— high-quality investment grade (A+ and above)
Diversifiers
Assets that we expect to be easy to buy and sell during periods of market distress or dislocation, and at a sensible price, such as government bonds, high-quality corporate bonds and cash.
We also may expect to see these assets be negatively correlated to equities during these periods of stress or dislocation in markets.
Assets that can be sold easily, low credit risk but may carry interest rate and currency risk.
— cash, US dollars, euros and yen
— government bonds:
— conventional
— index linked
— UK and overseas
— high-quality investment grade (A+ and above)
lorem ipsum
RGMAPS
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nullam condimentum nisi sit amet felis vestibulum, eget rutrum arcu laoreet.
RMAPS
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nullam condimentum nisi sit amet felis vestibulum, eget rutrum arcu laoreet.
RMAPS
RGMAPS
Multi-Asset Webcast | May 2025
Join Will McIntosh-Whyte, fund manager of the Rathbone Multi-Asset Portfolios, for his next webcast on Wednesday 14 May at 10.00 am.
1 min
Ethical Bond Webcast | April 2025
After a period of volatility in risk markets, Bryn will give his views on the outlook for rates and credit markets and will go into how the Washington whack-a-mole politics are creating very short-term volatility.
1 min
Review of the week: Negotiating a trade war
Markets continue to recover as US President Donald Trump and his advisers whisper sweet nothings to investors. It’s a brittle sort of recovery though: definitive de-escalation of the global trade war is needed to truly woo investors. Through it all, though, the dollar should still reign supreme.
6 mins
Review of the week: Gloves off?
US stocks held up well during a wild week of White House adjustments to its tariff policies. US government bonds and the dollar were less fortunate.
6 mins
