Is a total portfolio approach the answer to market uncertainty?

For decades, the strategic asset allocation (SAA) framework has been the foundation of portfolio construction. However, amid macroeconomic uncertainty and a desire for greater flexibility, more large asset owners are considering a total portfolio approach (TPA) for their allocations. The TPA evaluates portfolios in relation to a desired outcome rather than against traditional asset class benchmarks. Its adaptable approach to asset allocation and risk management allows for quicker responses to market conditions and investor objectives, with a focus on integrated decision-making across portfolios....