Fixed Income

Asset allocation chart December 2013

Jeffrey Knight, CFA, Head of Global Asset Allocation | January 6, 2014

Updates from previous allocations: We remain modestly overweight equities because we expect them to outperform bonds as central banks remain accommodative. Leading indicators are improving, suggesting better global growth ahead. We expect cash and fixed income to underperform and we also continue to favor absolute return strategies. We remain underweight U.S. equity allocations mainly on