Thought Leadership

60/40 no longer suitable according to professional investors

29 September 2022

40% of professional investors believe the traditional 60/40 portfolio is no longer suitable, according to a survey of professional investors by Fulcrum Asset Management. A further 24% believed that the strategy “needs to be reviewed”, while in contrast 36% believed it still had a strong future.

Commenting on the findings of the survey which was carried out with a mixture of institutional investors and financial advisers, Chief Investment Officer of Fulcrum Asset Management, Suhail Shaikh said:

“The findings of our survey showing a net score of nearly two-thirds of investors (64%) thinking that 60/40 is no longer fit for purpose or needs reviewing, chime with our own beliefs of how investors should be tackling the current volatile market conditions.

Our global macro strategy is designed to generate returns, offer downside protection and provide complementarity. As well as traditional asset classes, such as equities and bonds, we think it is important to be invested in a wide variety of uncorrelated return streams.

Specifically, we seek to limit volatility and performance drawdowns to realistic and acceptable levels so that our clients can maintain an appropriate investment horizon and avoid common behavioural mistakes that stem from unexpected volatility. Above all else it is our deep understanding of the wider macro environment that forms the basis of our unique investment process.”

About the Author

  1. Findings are based on a survey from independent research consultancy, Censuswide, conducted between 6th-10th June 2022 with a sample of 102 Professional Investors including [insert further breakdowns]. Censuswide is a member of ESOMAR – a global association and voice of the data, research and insights industry. Censuswide complies with the MRS code of conduct based on ESOMAR principles.
  2. The sample size represents a snapshot of those who view the current risk levels of the market environment to be high compared to pre-covid conditions absolute return, of 39 respondents which is lower than Censuswide’s usual minimum of 50 to ensure data resilience.

This content is provided for informational purposes and is directed at professional clients as defined in Directive 2011/61/EU (AIFMD) and Directive 2014/65/EU (MiFID II) Annex II Section I or Section II or an investor with an equivalent status as defined by your local jurisdiction.  Fulcrum Asset Management LLP (“Fulcrum”) does not produce independent Investment Research and any content disseminated is not prepared in accordance with legal requirements designed to promote the independence of investment research and as such should be deemed as marketing communications.  This document is also considered to be a minor non-monetary (‘MNMB’) benefit under Directive 2014/65/EU on Markets in Financial Instruments Directive (‘MiFID II’) which transposed into UK domestic law under the Financial Services and Markets Act 2000 (as amended). Fulcrum defines MNMBs as documentation relating to a financial instrument or an investment service which is generic in nature and may be simultaneously made available to any investment firm wishing to receive it or to the general public. The following information may have been disseminated in conferences, seminars and other training events on the benefits and features of a specific financial instrument or an investment service provided by Fulcrum.Any views and opinions expressed are for informational and/or similarly educational purposes only and are a reflection of the author’s best judgment, based upon information available at the time obtained from sources believed to be reliable and providing information in good faith, but no responsibility is accepted for any errors or omissions. Charts and graphs provided herein are for illustrative purposes only. The information contained herein is only as current as of the date indicated, and may be superseded by subsequent market events or for other reasons. Some of the statements may be forward-looking statements or statements of future expectations based on the currently available information. Accordingly, such statements are subject to risks and uncertainties. For example, factors such as the development of macroeconomic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. In no case whatsoever will Fulcrum be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages. Reproduction of this material in whole or in part is strictly prohibited without prior written permission of Fulcrum Copyright © Fulcrum Asset Management LLP 2024. All rights reserved.

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