Fidelity's Greetham positions multi-asset fund for stagflation

Fidelity's Trevor Greetham has positioned his Multi Asset Strategic portfolio defensively towards co...

Fidelity's Trevor Greetham has positioned his Multi Asset Strategic portfolio defensively towards commodities, bonds and cash in the face of mounting stagflation. The group's director of asset allocation said his marginal underperformance last year was a result of overweighting equities. In November, he structured the portfolio defensively and designed a strategy to benefit from stagflation. "Our investment clock macro model for tactical asset allocation indicates we are in the stagflation phase of the global economic cycle, with growth indicators weakening dramatically," Greetham sai...