October 0 2020 – 3rd Quarter Fixed-Income EdgePoint Commentary
by Frank Mullen, portfolio manager
Fixed income has always been part of the average investor’s portfolio. North America is aging, and many believe that as people get older, their allocation to fixed income should increase accordingly. This premise is founded on a sound rationale as older people typically need more income production from their investments and hope to build a portfolio that’s less volatile. Historically, this approach has worked well, but does that mean it will work going forward? Just because investors demand income and lower volatility doesn’t mean the market will provide it for them. Now could be a good time to start questioning conventional wisdom.
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