The writer is head of global multi-asset strategy at JPMorgan Asset Management
By any measure, it’s been an ugly year for investors. Stocks and bonds tumbled in tandem — a rare phenomenon. The mainstay of the investing world, the 60/40 portfolio, suffered a brutal setback, down 19 per cent year-to-date. That ranks as the worst drawdown since the global financial crisis in 2008.
But look past those losses and the long-term strategy that allocates 60 per cent to equities and 40 per cent to fixed income and was declared extinct by some commentators, is poised for a comeback.
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