One of the few relatively new positions for us – within the VT Chelsea Managed Aggressive portfolio – has been Artemis US Extended Alpha.
We are underweight the US generally, but we particularly like this fund because it is able to short stocks and can therefore make money during more challenging periods.
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While our lack of bonds has been beneficial across the range, our gold and silver positions have disappointed slightly.
However, we continue to hold these small positions as hedges. After all, it should always be a warning sign if everything in your portfolio is rallying at once.
Darius McDermott is managing director at Chelsea Financial Services
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