The Harmony Portfolio Range
The Harmony Portfolios range currently consists of:
- Asian Balanced & Asian Growth Funds
- Australian Dollar Growth Fund
- Europe Growth Fund
- Sterling Balanced & Sterling Growth Funds
- US Dollar Balanced & US Dollar Growth Funds
- Cautious Income Fund
- Global Equity Fund & Global Sustainable Equity Fund
About the Harmony Portfolios
The Harmony Portfolios are a long established range of globally diversified funds, designed specifically to provide a cornerstone investment. The range consists of 11 portfolios, each risk profiled and with a specific geographical and currency focus, housed in a Luxembourg UCITS structure with daily pricing and daily liquidity. The Portfolios aim to provide an ‘all-in’ cornerstone solution for clients that effectively takes responsibility for the significant research burden of investment and manager selection combined, specialist active asset allocation, portfolio construction and risk management activities.
Investment OverviewHow to Invest
You can invest in the Harmony Portfolios in one of two ways:
- Invest via one of our platform or life company partners through your Financial Adviser
- Your Financial Adviser can assist you to invest directly by contacting J.P. Morgan Bank Luxembourg S.A. and requesting the Prospectus, Key Investor Information Document and Application Forms which can be found in the literature library.
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At Momentum we follow an outcome-based investment philosophy which guides our approach in determining the optimal benchmark or strategic asset allocation for a particular investment objective.
Asset allocation constitutes the most important step in constructing investment portfolios; it has been shown as accounting for more than 90% of the variability in portfolio performance over time.1
Asset classes such as equities, bonds and cash have different characteristics meaning that they respond differently to changing economic scenarios. These differences allow for the creation of multi-asset portfolios with complementary holdings that create optimised risk and return profiles.
We believe that the most consistent source of return comes from understanding valuations and allocating our assets to areas of value. It is from valuation too that the best understanding of risk comes. Therefore at the heart of our process is a methodology that allows us to understand the risk / reward trade-offs of very different asset classes in a comparable manner.
The Harmony Portfolios mostly consist of a wide range of underlying fund holdings. Instead of researching individual companies and securities in order to implement asset allocation decisions, our investment team outsources the selection of these securities to a wide range of different specialist providers (managers). In this way the Harmony Portfolios are essentially being managed by many more investment professionals than Momentum’s team alone. Furthermore, Momentum’s large asset base provides strong buying power which leads to competitive fees.
Portfolio construction is the next step in the investment management process. This is where we blend together asset allocation and manager selection decisions to form a coherent investment proposition. Target allocations will evolve as and when necessary. Although volatility can be uncomfortable for investors, especially when it leads to short term drawdowns in portfolio valuations, it can provide us with more opportunities for attractive investments. This is a key aspect of portfolio construction – maintaining a well-diversified portfolio reduces the impact of volatility on a portfolio and puts us in a stronger position to make the most of market dislocations.