Past performance is not a reliable indicator of future results.
Data as at 29 Sep 2026
Net of Fees
| 1 Day NAV Change | -0.01 (-0.06%) |
| Since Launch (23 March 2026) | -0.14% |
| YTD | -0.14% |
| 1 Month | -0.45% |
| 3 Months | 0.94% |
| 6 Months | -2.17% |
| Annualised Return | N/A |
| Annualised Volatility | 7.92% |
| Maximum Drawdown | -5.44% |
| Data as at 29 Sep 2026 |
| Monthly Performance (%) | Mar 26 | Apr 26 | May 26 | Jun 26 | Jul 26 | Aug 26 |
|---|---|---|---|---|---|---|
| NG Tactical Growth | -6.34% | -0.29% | 0.33% | -3.56% | -0.99% | 3.54% |
| 60/40 Portfolio | -6.47% | 8.33% | 3.9% | -0.8% | -0.1% | 2.58% |
The 60/40 Benchmark is a reference portfolio comprising 60% invested in the iShares Core MSCI World UCITS ETFUSD and 40% invested in the XTrackers Global Aggregate Bond UCITS ETF.
Performance prior to 23 March 2026 is modelled. Performance from 23 March 2026 onwards is live.
| Number of Holdings | 10 |
| Asset Classes | Equities |
| Equity Exposure | 100.13% |
| Fixed Income Exposure | 0.00% |
| Alternatives Exposure | 0.00% |
| Cash & Cash Equivalents | -0.21 |
| Annual Rebalance Frequency | Monthly |
| Risk Profile | Medium |
| Investment Horizon | 3-5 years |
| Name | Ticker | Weight |
|---|---|---|
| iShares MSCI EM UCITS ETF USD (Acc) | IEMA | 18.18% |
| Invesco S&P 500 UCITS ETF | SPXS | 18.08% |
| Invesco Nasdaq-100 UCITS ETF | EQQQ | 15.68% |
| Xtrackers MSCI World Information Technology UCITS ETF 1C | XDWT | 9.53% |
| SPDR S&P US Health Care Select Sector UCITS ETF | SXLV | 7.90% |
| VANECK DEFENSE ETF | DFNS | 7.74% |
| SPDR S&P US Energy Select Sector UCITS ETF | SXLE | 7.71% |
| L&G Asia Pacific ex Japan Equity UCITS ETF Acc | LGAP | 5.75% |
| FIRST TRUST CLOUD COMPUTING UCITS ETF | SKYU | 5.11% |
| Cash | -0.21% |
Holdings are subject to change without notice.
August Portfolio Review
NG Tactical Growth returned 1.84% over the period covered by the August portfolio review, taking the three-month return at that point to 3.42%. During the weaker period for equity markets in the second half of August, the strategy remained comparatively resilient before participating as markets subsequently recovered.
The latest macro data pointed to an improvement in the shorter-term US environment, with growth accelerating and inflation decelerating, while the broader quarterly outlook remained more cautious. The portfolio responded to this change with increased exposure to equities and growth-orientated assets, including broad US equities and the Nasdaq.
This illustrates an important feature of the systematic process. The portfolio is not locked into a quarterly macro view when more recent conditions are changing. At the same time, the macro environment does not determine the allocation on its own. It is one input into a wider systematic process incorporating momentum, mean reversion, volatility, correlations and portfolio optimisation. Together, these inputs determine portfolio positioning through the strategy's systematic monthly rebalance.
The portfolio changes demonstrate the strategy's adaptive approach in live market conditions, adjusting exposure as the underlying data changes rather than relying on a fixed market outlook.
Past performance is not a reliable indicator of future performance. The value of investments can fall as well as rise.