The Funds

The Royal London GMAPs or ‘Global Multi Asset Portfolios’ are RLAM’s range of on-platform multi asset funds, launched in 2016 for ISAs, GIAs and SIPPs. The funds cover a broad range of asset types and are designed to offer investors’ diversified exposure to these in line with their investment objectives and appetite for risk.

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The Funds

The range is comprised of six actively managed, diversified multi asset funds. They are all constructed using a risk based approach with the aim of maximising  real return over the medium to long term subject to a given level of expected risk. The Funds are managed in line with strategic benchmarks which have been designed in consultation with Moody's. The Funds primarily invest in RLAM funds, with exposure to other schemes managed by third parties.

RLAM’s expertise

Focusing on RLAM funds allows the manager to benefit from working closely with our award-winning asset class experts. The funds combine exposure to our actively managed fixed interest, property and cash ranges as well as our cost effective range of equity funds.

The team

RLAM’s Multi Asset Team was established in 2015. The team is made up of six investment professionals with an average 21 years’ experience. The team is led by Trevor Greetham, a skilled asset allocation specialist with 23 years’ experience.

Investment process

The investment process used by the team focuses on tactical asset allocation as a key driver of returns. A systematic framework is used to aid decision making. A central part of this is the Investment Clock, a quantitative model tracking growth and inflation trends and the performance of various investments. The Clock is the product of over 20 years of research.

Risk and governance

The funds are monitored against their respective benchmarks to ensure positions remain within an expected range. In addition, a risk committee will monitor and oversee the funds on an ongoing basis. While the team retain full responsibility for all investment decisions, this ensures they are managed in a disciplined, repeatable manner.

Equity and bond funds

The range includes one fund investing solely in cash and bonds from across the fixed interest universe globally – the RL GMAP Conservative Fund, as well as another comprised only of equity investments from a range of sectors across the globe – the RL GMAP Dynamic Fund. While these two outliers do not include the same level of diversification by asset class, they are aimed at offering investors with lower and higher appetites for risk respectively, exposure to a wide range of assets from across the underlying funds held. Across the Dynamic Fund, regional and sector exposure will be actively managed while the Conservative Fund will have allocation to government, investment grade, and unrated bonds adjusted by the manager. These funds will be managed in line with the investment and asset allocation process used across all of the GMAPs, offering more cautious and adventurous investors access to the team’s expertise.

GMAP Range

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The role of multi asset


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