Why multi-asset investing is easier said than done

Wealth preservation and capital protection have never been more critical in today’s “risk on/risk off” markets, which continue to surprise with high volatility and synchronised losses across multiple asset classes. At the same time, real returns have rarely been harder to achieve when so-called “risk assets” – like equities that traditionally have participated in economic growth and wealth generation – have returned next to nothing in the last decade. Most recently, fixed income securities are in many cases producing negative real yields with rates at 300 year lows. Relevance of mu...