A DIVERSIFIED PORTFOLIO CAN HELP SMOOTH RETURNS
A volatility-based portfolio is made up of a range of different asset classes, including equities (shares), fixed interest (bonds) and alternative investments (investments in hedge funds, real estate, etc). By diversifying in this way, the investment manager aims to create a portfolio that will perform relatively well in different market conditions. This approach can make trustees feel more comfortable because while their returns will not necessarily match equity markets in good years, neither should they see significant losses in bad years.