David McMillan

Portfolio Review: Welch Favors Water, Singapore, Currency ETFs

Great article Murray. Our managers also hold DBV, PHO and EWS as part of 3 core portfolios we run for clients for all of the reasons listed above. They are excellent long term plays with a couple (particularly DBV) showing sustained non-correlation with the broader market indexes. A great addition to any portfolio that is looking to weather a bear market cycle.

Alternatives and Absolute Return with ETFs

Thanks for the feedback Aquater and good selection in mentioning PRPFX.

Rather than a 'hodge podge concoction', the portfolio has been carefully crafted with a great deal of attention given to offsetting non-correlated asset classes, macro level themes and specialty plays managed using a top down economic forecasting approach.

By only managing 20 ETFs allows for a very simple model to be handled by our portfolio team and one that only requires reallocation on a quarterly basis. Inclusion of sectors only recently appearing in the ETF universe is also providing significant alpha to the composition in the first half of the year.

To provide greater detail on the specific weightings and recent modifications I can be reached off list at mcmillan@agilewealth.c...