Phillip ETF Model Portfolio – June 2017 July 6, 2017

MARKET HIGHLIGHTS

  • Weak inflation data in the US has dragged down US Treasury yields to year lows, despite the Fed raising rates and threatening to unwind its balance sheet.
  • Macron’s overwhelming majority in the French Parliament perhaps wiped out political risks in Europe and even brought it a step closer to the fiscal union dream;
  • Softer economic momentum in the US and nervousness over politics are pressuring the US dollar lower
  • A breakdown in oil prices is raising the spectre of another spike in credit risks and a further collapse of capital spending.

TARGETED ASSET ALLOCATION

1

JUNE 2017 ETF PERFORMANCE (%)

2

*Performance return is based on total return with dividend reinvestment. Performance calculation does not take into consideration any transactional cost or brokerage fee.

Source: Bloomberg, as of 30 June 2017

INVESTMENT INSTRUMENTS FOR MODEL PORTFOLIOS

3

4

Source: Bloomberg, as of 30 June 2017

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Profile photo of Pei Sai Teng

Pei Sai Teng
Investment Analyst
Phillip Securities Research Pte Ltd

Sai Teng covers the global macro research. He has more than 6 years investment experience primarily in portfolio construction and asset allocation. He graduated with Bachelor of Science in Banking and Finance from University of London.

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