Agility - Tactical Trade Update July 2026
Omnis Agility combines the Omnis range of funds with carefully selected Exchange Traded Funds (ETFs) that give us access to additional investment opportunities. This week we made some changes to the portfolio to reflect a change in our tactical asset allocation positioning. In this document, we detail the thinking behind these trades.
Summary
On 8th July 2026, we initiated instructions to conduct 4 trades and a full rebalance of the Agility portfolios.
Repositioning from Long date US Treasuries into Inflation Linked Bonds
- We reduced exposure to long dated US treasuries amid risk that inflation persists, especially with the tensions in the Middle East, combined with concerns over the pace of future policy tightening,
- With the proceeds of these sales, we increased exposure to Global inflation linked bonds, which mitigate the impact of rising inflation.
Rotation from Long Dated to Short Dated Gilts
- A reduction in interest rate sensitivity within our UK government bond allocation by selling Long Dated Gilts following a period of strong performance at lower yields
- The portfolio was repositioned into Short Dated Gilts to retain income generation while limiting exposure to long end rate volatility in changing market conditions or any fiscal risk
Switch from Hedged to Unhedged Global Aggregate Bond
- To be clear both funds are the same. However, we’ve opted switch to the Unhedged version, while maintaining the exact same bond exposure while broadening the currency diversification. This change reduces reliance on sterling at a time of heightened political uncertainty with the PM resigning, all while improving portfolio diversification without altering duration or country allocations.
Reducing US Small Cap holdings and increasing Energy & Healthcare
- We booked profits from our US Small Cap allocation following its recent strong performance and reduced overall portfolio beta by reallocating to lower volatility sectors.
- Increasing exposure to Energy, where supply demand dynamics and potential replenishment of US strategic reserves could support prices, and Healthcare which benefits from resilient demand and is less dependent on the AI led investment cycle.
- The repositioning lowers sensitivity to broader equity market volatility while maintaining exposure to sectors with attractive fundamental and defensive characteristics.
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