Have you ever wondered how investment professionals navigate the complexities of forecasting asset returns and constructing robust portfolios in an uncertain world? In this insightful conversation, Alla Harmsworth from AllianceBernstein delves into the intricacies of long-term asset allocation, emphasizing the importance of humility in forecasting and the need for thoughtful portfolio construction. Alla explains AB's approach, which combines quantitative models with fundamental research to create diversified portfolios that can withstand various market scenarios. She highlights the challenges posed by current global trends such as deglobalization, demographic shifts, and geopolitical uncertainties, which necessitate a different approach to portfolio management compared to the past decades. Alla also discusses the specific considerations for income-focused investing,. She emphasizes the importance of active decision-making in strategic asset allocation and the need for continuous client engagement to navigate market volatility. Alla's transition from the sell side to the buy side has provided her with valuable insights into the practical implementation of research and the importance of transparency and communication with clients.

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