In this article Dan Miles discusses why yesterday’s strategic asset allocation won’t deliver tomorrow. The effectiveness of the classic 60:40 balanced portfolio has steadily declined as market conditions have changed. Interest rates have fallen to near zero today and the typical low-risk investment now carries much greater risk and lower potential returns. In this environment sticking to a rigid SAA will not generate portfolio out-performance – a different approach is necessary.
Portfolio Insights January 2021 – SAA
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