October 2021 Asset Allocation Update For Risk-Managed Portfolios
Adjustments can vary across strategies depending on each strategy's objectives. What's illustrated above most closely reflects allocation adjustments for the Growth Strategy.
U.S. Equities
International Equities
Exposure will decrease, as foreign developed equities join emerging markets in intermediate-term downtrends. The long-term uptrend remains intact for now in both foreign developed and emerging markets. Exposure in this class will be handed up to U.S. equities.
Real Estate
No change. Exposure will stay at its baseline allocation, and there are uptrends in both timeframes.
U.S. & International Treasuries
Exposure will decrease, as intermediate duration bonds in the U.S. and abroad both enter downtrends over the intermediate timeframe. Longer duration U.S. bonds have reentered a long-term uptrend but are weakening. International Treasuries remain in an uptrend in the long-term timeframe.
Inflation-Protected Bonds
Exposure will decrease due to the emergence of an intermediate-term downtrend. The long-term trend remains up.
Alternatives
Exposure will not change due to continued downtrends in gold across both timeframes.
Short-Term Fixed Income
Exposure will increase due to handoffs from longer-duration bonds.
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