Wednesday webinar at one: The equity-bond relationship and 60/40 portfolio - Doomed to fail?

Wednesday 24 May 2023 | 13:00 - 13:40 | Webinar

This session has been organised by CFA UK's Investment Practices working group

2022 was a tumultuous year for multi-asset investors with almost every asset class suffering, including investment grade bonds. Naturally, such performance has resulted in questions like whether equity-bond portfolios like the 60/40 have a place in modern-day investing, and if bonds still fulfil the role of protecting against market downturns.

In this session, Giulio Renzi-Ricci, Head of Asset Allocation for Europe in Vanguard’s Investment Strategy Group, addresses these questions from a practitioner perspective using a combination of investment theory and empirical evidence.

Learning objectives:

• Understand the dynamics underneath the equity-bond correlation
• Explore the benefits of the 60/40 multi-asset portfolio
• Explore whether the 60/40 portfolio needs to be reconsidered

Timings

Registration: 12:55 
Event: 13:00 - 13:40 

Speaker

Giulio Renzi-Ricci, Head of Asset Allocation for Europe, Vanguard, Investment Strategy Group

Giulio Renzi-Ricci is Head of Asset Allocation for Europe in Vanguard’s Investment Strategy Group. Based in London, Giulio specializes in multi-asset portfolio construction, single fund solutions and econometric forecasting and oversees the asset allocation of Vanguard’s multi-asset products and model portfolios across Europe.

His research has covered topics on factor investing, active-passive blending, dynamic portfolio optimization and ESG investing. Giulio’s research has been published in The Journal of Investing, The Journal of Investment Strategies and The Journal of Portfolio Management, among others.

Prior to joining Vanguard, Giulio worked at NERA Economic Consulting, providing expert analysis on financial derivatives and investment strategies. Before that, he was a fixed income structuring analyst at Banca IMI in Milan.

Giulio holds a MSc in finance and economics with distinction from the University of Warwick and a BSc in economics summa cum laude from Bocconi University.