NEW YORK - Strategists at the world’s largest asset manager BlackRock Inc told their financial adviser clients on Wednesday to look at cutting back on risk and lower expectations for high returns on stocks and bonds.
“We just want to be conscious of the fact that for both equities and bonds, the types of returns that you’ve experienced - not just in 2019 but over the course of the last decade and before - are going to be difficult to replicate,” said Moore. In general, the recent market gyrations have not spurred financial advisers into action, Patrick Nolan, a senior strategist with BlackRock’s portfolio solutions team, said.They could treat market gyrations as noise and largely ignore them, Nolan said. Alternatively they could react very strongly and dump risky assets, he said.
To do this, BlackRock’s head of factor investing, Andrew Ang, favors quality - an approach where the focus is on companies that have a track record of stable earnings, are productive and sport a relatively lower level of debt.
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