In the tables below we present the allocation of model portfolios as voted by our investment committee in July 2022

In the tables below we present the allocation of model portfolios as voted by our investment committee in June 2022

Diversification is actually what we call conditional correlation. This is more evident this year, with some asset bubbles deflating, led by bonds. Debt/equity and debt/GDP ratios are coming higher despite the numerator remaining constant, because of stock prices and growth struggling