Kevin Shine is a registered investment advisor. He manages Covestor’s Asset Allocation mode, a diversified portfolio that aims to maximize risk-adjusted returns. The model is designed to be a core, long-term holding, and it holds stocks, REITs, commodities, currency, and master limited partnerships, all through ETFs. Kevin determines asset class weighting by analyzing correlations, price multiples and other economic indicators. The following is Kevin’s monthly commentary for June.
Author: Kevin Shine, Shine Financial Services
Covestor model: Asset Allocation
Disclosures: Long AMJ, MSD, PCN, MBB, DEM
My Asset Allocation model held up well in June.
Yielding securities provided a stable base, with the JP Morgan Alerian MLP Index ETN (NYSE: AMJ) and Morgan Stanley Emerging Markets Debt (NYSE: MSD) performing relatively well. Some others – PIMCO Corporate Income Fund (NYSE: PCN), iShares Lehman MBS Bond Fund (NYSE: MBB) and WisdomTree Emerging Markets High Dividend Fund (NYSE: DEM) – were down slightly.
Second quarter earnings will shed some more light on how the economy is doing and I will remain patient until opportunities appear.
As of June 1, the fee for my Asset Allocation model has been lowered from 1.10% to 0.75%. I purchased software that crunches numbers much more quickly, so I am passing that time savings on to subscribers.
