Asset Allocation

Medium Risk Portfolio

Achieving potential growth with some fluctuations.

For investors seeking to strike a balance between risk and return. For a balanced portfolio in 2016, we see more value in US and Asia Pacific ex-Japan equities over Europe and Japan. But regional and country performance differences are likely to shift, with developed markets showing more weakness in the latter part of the year than already battered AxJ and Emerging Market equities. We also see more value in developed market government bonds over corporate and emerging-market bonds.

Please refer to the Useful Links below for Disclaimer.

 Tactical Asset Allocation
Equities54.00%
US12.00%
Europe11.00%
Japan9.00%
Asia Pacific ex Japan14.00%
Emerging Markets ex Asia8.00%
Fixed Income28.00%
Developed Markets (DM)23.00%
DM Government Bonds12.00%
DM Corporate Bonds11.00%

Emerging Markets (EM)

5.00%
Alternatives7.00%
Commodity3.50%
Gold0.50%
Hedge Funds3.00%
Cash11.00%

 

Tactical Asset Allocation

Asset Class3-Month Basis12-Month Basis
EquitiesNeutralOverweight
US EquitiesNeutralNeutral
Europe EquitiesNeutralNeutral
Japan EquitiesNeutralOverweight
Asia Pacific ex-Japan (APxJ) EquitiesNeutralNeutral
Emerging Market (EM) EquitiesNeutralNeutral
BondsUnderweightUnderweight
Developed Markets (DM) BondsUnderweightUnderweight
DM Government BondsUnderweightUnderweight
DM Corporate BondsNeutralNeutral
Emerging Markets (EM) BondsUnderweightNeutral
AlternativesOverweightOverweight
CommoditiesOverweightOverweight
GoldUnderweightNeutral
Hedge FundsNeutralNeutral
CashNeutralNeutral

Source: DBS CIO Office, Morningstar Investment Management Asia Limited, as of 31 March 2017

Remarks:

  1. Asset allocation does not ensure a profit or protect against market loss.
  2. Percentages denote actual tactical asset allocation weights for a 3-month time horizon.

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