An overwhelming majority of advisers are happy with the level of risk in the portfolios they manage for clients and do not intend to reduce it further, according to the latest FTAdviser Despatches poll, sponsored by Artemis.
The poll, conducted online during December, asked advisers whether they intend to reduce the risk levels in their portfolios now.
The result was 93 per cent of advisers declaring themselves happy with the current level of risk in their portfolios, and not intending to change it.
In the prior month, our poll showed advisers were increasingly keen on investing in bonds as yields have risen, and it may be that this ability to place more bonds into portfolios creates portfolios with risk profiles that are more typical of what advisers and their clients had been used to in the past.
Although markets have generally been lower in 2022, a possible restoration of the inverse correlation between bonds and equities in 2023 may actually make portfolio construction easier from a risk point of view in 2023.
david.thorpe@ft.com
