TACTICAL CALL MADE BY EMBLEM OVERSIGHT TEAM January 27, 2022 Key takeaways: Emblem Portfolios – Canadian
Emblem GIF Portfolios – Global - Tactically increased bonds, decreased international equities*
Rationale: - We are taking a slightly more defensive posture by trimming international equities and adding to bonds. This is indeed a tactical but measured decision. It is a move in a more conservative direction with an eye towards taking potential risk exposures incrementally lower.
- This is related to a range of concerns we are seeing, including the potential persistence of inflationary pressures, the pace and magnitude of interest rate hikes, geopolitical uncertainty and certain pockets of elevated valuation.
Next steps: Get the update and share it with your clients. 
* Excludes Emblem Aggressive Growth, which has no allocation to bonds.
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