At AllianceBernstein, Patrick Rudden, is Portfolio Co-Manager of the Dynamic Diversified Portfolio and International Head of Multi-Asset Solutions. Patrick joined the firm in 2001 as a senior portfolio manager for Value Equities. He has published numerous articles and research papers, including, "What It Means to Be a Value Investor"; "An Integrated Approach to Asset Allocation" (with Seth Masters); and "Taking the Risk Out of Defined Benefit Pension Plans: The Lure of LDI" (with Drew Demakis).
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Patrick could you share some of your research finds on risk parity? ["Designing a Smoother Ride" - Balancing risk and return using dynamic asset allocation = Identifying changes in the risk/reward trade-off as they occur]
Could you elaborate on your research findings relating to volatility - [Forecasting risk: Volatility Levels Are "Sticky", Hence Predictable].
Given that at AllianceBernstein, USD45 billion of assets are covered by Dynamic Strategies including both traditional balanced and risk party approaches - how do you condition portfolio asset allocation using dynamic risk parity?
Herd behaviour is a common observable phenomenon amongst investors. Why do you think they need to be cognisant and cautious of such behaviour in the context of portfolio asset allocation?
How does dynamic risk asset allocation differ from dynamic asset allocation?
Given the global macro-economic environment, over the next 12 months, how could investors be potentially allocating to multi-assets?
Since sovereign bonds for instance are unlikely to deliver commensurate risk-adjusted returns, how are you looking at protecting tail risk but still capturing and optimising the expected risk-return premium?