2023 was a year of high inflation and elevated interest rates. This, in turn, brought a lot of volatility in the investment markets, posing challenges for master trusts.  

In this report, we will delve into how these main trends have shaped the investment landscape and how they have affected the various master trust default strategies. 

What’s inside?  

• How the investment landscape in 2023 has impacted master trust investment strategies
• We examine the performance of master trusts during 2023
• Which strategy is performing best over long periods? 
• Evaluate whether all glidepaths are equal
• Explore whether the variation in returns is reducing.