■ Since then, our work in support of the concept has continued. This paper takes the
Adviser’s Alpha framework further by attempting to quantify the benefits that advisers can add …

■ The primary goal of a rebalancing strategy is to minimise risk relative to a target asset
allocation, rather than to maximise returns. Over time, asset classes produce different returns …

● This paper reviews several aspects of the asset allocation debate and offers observations
to reshape or provide a fresh perspective. ● The first area of exploration is the debate over …

Some investment strategists advocate concentrated, “best ideas” portfolios as the surest path
to equity market outperformance. The premise is obvious: When a portfolio consists only of …

Based on analysis of private equity performance, this article challenges the widespread
assumption that private equity investments can provide both exceptional returns and enhanced …

What is adviser’s alpha? The Vanguard Adviser’s Alpha concept outlines how advisers may
add more consistent value, or alpha, through wealth management in the form, for instance, …

Forecasting the future of advice is a popular exercise. And, as with most efforts at prediction,
while some expectations will prove more accurate than others, the majority will generally fall …

Since its beginnings in the early 1970s, indexing as an investment strategy has grown
tremendously, to the point that according to data from Morningstar, assets in US-domiciled index …

1 Sources: Morningstar, Inc., and Vanguard. Average tax cost is calculated based upon
Morningstar data for all domestic equity stock funds with 15 years of performance history as of …

■ Some investment strategists advocate concentrated,“best ideas” portfolios as the surest
path to equity market outperformance. The premise is obvious: when a portfolio consists only …