Concentration, diversification, and allocation

The latest on asset allocation and portfolio construction

In today’s uncertain world, investors need to construct portfolios that can withstand various scenarios. The question is how best to do so to both mitigate risk and meet investment goals. This collection of thought pieces offers insights into asset allocation strategies and opportunities in an environment where diversification and resiliency increasingly matter.

Geographic Diversification in Global Real Estate (Nuveen)

Finding balance between optimal diversification and manageable complexity in global real estate.

Bond Portfolio Optimization (Amundi)

For compliance reasons, this paper is NOT accessible in the United States

A reference guide for investors and academics navigating the field of bond portfolio optimization.

A Market Tug of War and the Discipline to Stay Neutral (Mawer IM)

In an environment of competing forces and mixed signals, how can investors build portfolios that withstand multiple scenarios?

Leveraged Finance Asset Allocation: AI Credit Divide (Metlife IM)

Leveraged loans carry a heavy, concentrated exposure to technology and software credits, a cohort that is uniquely vulnerable to AI workflow disruption.

Rethinking Rates, Inflation and Duration (PIMCO)

Why fixed income looks more attractive today than it has in many years.

Why Most Portfolios Are Under Diversified (Quantpedia)

Portfolios that appear diversified may still be heavily concentrated in a small number of underlying risk factors.

What Role Can Emerging Markets Debt Play in Portfolios? (Capital Group)

For compliance reasons, this paper is only accessible in certain geographies

EMD has grown significantly in breadth and depth, creating a more diverse opportunity set for institutional investors.

Total Portfolio Approach to Private Assets — Part I (SIPA)

Measuring private asset factor exposures within multi-asset portfolios.

Total Portfolio Approach to Private Assets — Part II (SIPA)

How a reference portfolio of equities and bonds can serve as a governance mechanism for private asset allocations.

Rethinking Diversification: Bonds, Commodities and Trend (Aspect Capital)

Can trend-following strategies play a role in adapting portfolio construction to today’s environment?

Rethinking U.S. Exceptionalism: A Case for Diversification (Robeco)

If investors can no longer rely on the persistence of U.S. exceptionalism, where can they turn for opportunities?