Zullen 60-40 portefeuilles een comeback maken?

Met hun slechtste jaar sinds 2008 hebben 60/40 portefeuilles zeker betere tijden gekend. Een turbulent 2022 zou echter de voorbode kunnen zijn van een gunstigere toekomst, vooral voor beleggers die een evenwicht zoeken tussen groei op lange termijn, behoud van de hoofdsom en lopende inkomsten. Hier zijn drie factoren die een comeback van 60/40 portefeuilles in 2023 en daarna mogelijk kunnen maken.

The classic 60/40 split between equities and fixed income has been a mainstay of balanced portfolios ever since the concept was invented in 1952. Yet questions are now being asked of this traditional investment approach following a dismal 2022 as both equities and fixed income fell in tandem.

However, investors should not overlook their long-term credentials because of a single bad year. Our analysis of a hypothetical 60/40 portfolio revealed that over a longer time frame, performances have been consistently solid, with positive returns in 15 out of the past 20 calendar years.

We also found that calendar years of negative results are typically followed by calendar years of strong positive results, reaffirming our belief that investors should consider, rather than be unduly concerned about 60/40 portfolios.

While many readers would be familiar with the line ‘past results are not a guarantee of future results’, investment director Julie Dickson will be highlighting in this paper three factors that could potentially drive a comeback for 60/40 portfolios in 2023 and beyond.

Julie Dickson is an investment director at Capital Group. She has 29 years of investment industry experience and has been with Capital Group for seven years. Prior to joining Capital, Julie worked as the head of client portfolio management at Ashmore Group. Before that, she was the head of client portfolio management at Aviva Investors. She also held various positions at Axa Rosenberg, Mellon Global Investments, Barclays Global Investors and Merrill Lynch. She holds a bachelor’s degree in business management with concentration in finance from Cornell University. She also holds both the Investment Management Certificate and the Chartered Financial Analyst® designation. Julie is based in London.