Asset Allocation

Defensive Portfolio

Capital preservation with minimal risk exposure.

Ideally suited for investors seeking to preserve their capital and are uncomfortable sustaining losses. For a defensive portfolio in 2016, the DBS Chief Investment Office sees value in developed market government bonds amid expected further downside pressure on total returns for corporate bonds.

Defensive Portfolio

 Tactical Asset Allocation
Equities0.00%
US0.00%
Europe0.00%
Japan0.00%
Asia Pacific ex Japan0.00%
Emerging Markets ex Asia
0.00%
Fixed Income29.00%
Developed Markets (DM)
29.00%
DM Government Bonds
29.00%
DM Corporate Bonds0.00%

Emerging Markets (EM)

0.00%
Alternatives0.00%
Commodity0.00%
Gold0.00%
Hedge Funds0.00%
Cash71.00%

Source: DBS CIO Office, Morningstar Investment Management Asia Limited, as of 28 June 2016

Notes:

  1. Asset allocation does not ensure a profit or protect against market loss.
  2. Percentages denote actual tactical asset allocation weights for a 3-month time horizon.

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