Stefan Dunatov, who is also chief investment officer at Coal Pension Trustees, warned investors are compromising their total wealth level by focusing solely on the amount of total return rather than on the pattern of how the returns are made over the investment timescale.
Speaking to portfolio institutional, he said it was important investors who had a wealth target managed this sequence of returns to avoid the risk of the return being less favourable than in a ‘smoothed returns’ scenario, thereby ending with a lower level of assets than they thought they should have.
Read the full interview on Portfolio Institutional
