Multi-asset: why it's all about big brands now

Not everyone agrees that asset allocation is at the heart of investing, and there is a body of opinion that value is added by having a stable allocation, changing the funds within. However, academic research relentlessly shows that by far the greatest effect on a client's wealth is down to how you allocate their assets over the major asset classes of cash, bonds and equity. The clearest example of this has been the past decade for equity markets, which have only just started to regain their highs: this has been the decade of bonds. However, there are many signs the next decade will...