Peter Fitzgerald

“We made no changes to the asset allocation which is 45 per cent equities, 45 per cent alternatives and 10 per cent fixed income. We will use any equity correction to simply rebalance the portfolio to this allocation. We are also satisfied that our managers are delivering good returns despite the turbulent markets and have made no manager changes in the past month. We do not have a crystal ball so it is rather difficult to predict what the immediate future will bring, however we do not believe the current correction (which could be more severe than many are predicting) heralds the beginning of a bear market.”