And so goes my first attempt at Mindfulness, the meditative practice that’s become somewhat trendy around these parts of late.
Too early to say if it’s working, despite an eerie sensation as I passed a mass of negativity through my left little toe… that may well have been Brian having a nibble though.
Yes, it’s been something of stressful time for SHAM, hence our recent lack of correspondence for which I am truly sorry. Ten years of hackery, and those nightly yuletide festivities can be an undue strain on both the liver and the ego.
I’m also somewhat fretful about my fixed income allocation. Depending on whom you talk to the bond market is either a hive of otherwise unheralded opportunities, or as dry as the January you’ve promised yourself after the Christmas carnage.
Being somewhat of a traditionalist, I’ve never actually invested in a new-fangled strategic bond fund, preferring to stick by Invesco Perpetual Corporate Bond – a fund I’ve held since day one.
The “two Pauls” Causer and Read have delivered over the long term, while also outperforming the peer group over three years and year-to-date measures.
I’ve flirted before with the idea of diversifying to a manager with a wider remit – Jupiter, GLG and TwentyFour have been on the shortlist – but have always held back given warnings about poor prospects in the government bond and high-yield markets.
This is despite 2014’s gilt rally – which I think it’s fair to say caught the vast majority of professional investors off guard – and the reported hefty inflows into junk bonds during the autumn.
So what do you think, dear reader? Should I stick or twist? Certainly yesterday’s ECB action rattled bond markets with sell-offs on both sides of the Atlantic, while the presumed forthcoming rate rise by the Fed also threatens to shake things up.
If there is an asset class, or fund category, that best mirrors the Mindfulness philosophy then I guess it is probably global absolute return. You know, smooth out the shocks and focus on the big picture, while avoiding the clever clog cynics who question the real worth of your methods.
Recent years have seen plenty of new entrants in the absolute return global bonds space with varied success – Standard Life, Aviva, Neuberger Berman are among the leading players.
Perhaps SHAM will update you on those funds at a later date. For now though, it’s time to get zen… to paraphrase 70’s groove pioneers Funkadelic, free your mind… and your ass(et) allocation will follow!
SHAM is the continuing adventures of a financial journalist and his meagre ISA. Follow at @SHAMinvestor
