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Generation CPI +3 Portfolio

The Generation portfolio aims to meet the needs of a new generation of retirees, who desire a flexible and bespoke solution.

Generation seeks to enable clients to draw down from pension savings while remaining invested in markets, through a diversified multi-asset portfolio. The portfolio seeks to beat inflation and offer the potential for capital growth. At the same time, it aims to mitigate against the impact of market falls through a focus on short-term risk management.

Key features

A Flexible Solution to Pensions Reforms

We have designed Generation in collaboration with advisers, following the introduction of the new pensions freedoms, to offer a flexible and bespoke solution for retirement. The portfolio is aimed at retirees who may not want to buy an annuity, or would like a solution that allows them to remain invested at the same time as having an annuity, or would like to keep the option open to buying an annuity in the future. It also seeks to help clients leave some or all of their pension savings to loved ones, should they so desire.

A Focus on Total Return and Beating Inflation

Our aim of delivering income and growing clients’ money seeks to provide a bespoke solution for finding a balance between yield and capital growth. This is different to many of the other retirement options available, where a choice has to be made between either ‘income’ or ‘growth.’ Moreover, we seek to protect against the ravages of inflation, as the Generation portfolio targets returns above the consumer price index of +3% over the medium term.

Active Short-Term Risk Management

Active short-term risk management forms a part of every stage of our portfolio construction process, to limit the risks that a poor sequence of returns permanently dents clients’ capital. This means the managers can act quickly to guard against losses in periods of market stress. The diversified nature of the portfolio, which holds uncorrelated sources of income, is also aimed at mitigating the risks of capital erosion.

Dynamic Asset Allocation

The Generation portfolio is invested primarily in funds run by a variety of managers, across a wide array of asset classes. This approach facilitates exposure to multiple regions, sectors and fund-management styles. In addition to a focus on any short-term risks to the downside, all positions are monitored continuously with an eye on the interaction between the funds held, to ensure an appropriate blend is maintained.

Sacha Chorley

Portfolio Manager

Sacha is manager of the Compass portfolios and co-portfolio manager of the Creation and Generation portfolios. He joined the business in 2011 and has played an important role in the development of the asset allocation and investment tools used across the multi-asset ranges. Prior to joining the business, he worked at Broadstone with their team of economists during the financial crisis, before moving into asset allocation and fund manager research.

Sacha is a CFA Charterholder and has a degree in Maths from the University of Bath. He has also completed the Chartered Alternative Investment Analyst (CAIA) qualification.

Ian Jensen-Humphreys

Portfolio Manager

Ian is manager of the Cirilium Blend and Generation portfolio ranges. He joined the business in March 2020 from Seven Investment Management (7IM), where he was most recently deputy chief investment officer. He joined 7IM in 2016 as a senior investment manager, focusing on derivatives and alternatives within the multi-asset portfolios, and also co-managed the 7IM Real Return Fund. Ian started his career at Goldman Sachs, where he spent 15 years specialising in risk management and portfolio hedging strategies, before joining Citigroup where he was responsible for identifying strategic investment solutions for UK pension funds.

Ian is a CFA Charterholder and has a degree in Physics from Oxford University.