Asset Allocation

Asset Allocation Committee Viewpoints

December 31, 2019
In the current investing environment, discover how our Asset Allocation Committee is positioning its portfolios.

Key Points

  • We modestly added to equities from bonds as sentiment has continued to improve for risk assets due to supportive monetary policy and further stabilization in global growth.
  • Within equities, we added to markets outside the U.S., including emerging markets and global ex-U.S. value, based on attractive relative valuations, improving global growth, and potential upside in currencies, notably within emerging markets.
  • Within fixed income, we further trimmed duration exposure by rotating from long-term U.S. Treasuries into less duration-sensitive floating rate loans that should be supported with the Fed on hold.