Andrew Morris: Why theory does not always work in practice

Last time, we looked at why significant due diligence is needed when comparing multi-asset funds, as the evidence shows different products can have wildly different characteristics - particularly from a risk perspective. The sell-off we witnessed in the first quarter of this year, however, gives us the opportunity to discuss the broad merits of multi-asset investment. This is incredibly important, as reality very rarely reflects the theory it is supposed to. For some time we have been dealing with a number of clients who are concerned about their fixed income allocations. With a synch...