Portfolio review: core funds

Back in April I commented that I was thinking of making the core fund portfolio that has served me so well over the past eight years a little more defensive as we enter the later stages of the current market cycle. There have been three significant sell-offs in the equity markets this year, with the latest (in October) the most extreme of the three. Six months on from the last review it is time to take stock again. Fortunately the changes that I made back then have helped to save a bit of money. It has been poor year overall for investors as bonds have also performed badly. There have been few places other than cash in which to hide. So far therefore the changes I have made - the first for a very long time - can I think be regarded as a success. The core fund portfolio is up a creditable 10% over the past 12 months.

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