The end justifies the means!

Graham Rich  |  Portfolio Construction Forum  |  25 August 2021

Portfolio construction is only “successful” when it helps clients achieve their financial goals. Yet delivering on those goals - be it financial independence or, at the very least, a reasonable standard of living in retirement - is more challenging than ever. The vast fiscal and monetary responses to Covid-19 helped stabilise economies and boost asset prices, but did little to aid long-term investors - arguably, they have undermined the prospects for long-term investment portfolios. We find ourselves in an environment of historically high asset prices and heightened uncertainty about the path ...

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