The myth of the balanced fund
OPINION: Institutional portfolios rely heavily on a single assumption, that of an inherently negative correlation between bonds and equities. With special feature audio.
Institutional portfolios rely heavily on a single assumption, that of an inherently negative correlation between bonds and equities.
It makes these portfolios more fragile than widely believed. In New Zealand, where the 60/40 balanced fund dominates, outcomes are unnecessarily dependent on it
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The myth of the balanced fund
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