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Tech’s rebound has been fuelled not only by an AI boom but also by wagers of a more dovish U.S. Federal Reserve and better-than-expected financial results from firms such as Microsoft
Mark Burgess Many investors made it out of 2020 far better than they would have hoped earlier in the year, but a report from Capital Group shows it may be time to rebalance portfolios. Analysts at the Los Angeles–based firm reviewed more than 4,000 portfolios of U.S. advisors. Portfolios were weighted heavily to U.S. equities, particularly growth stocks, they found, and bond holdings have gotten riskier. The equities weighting in the average portfolio was 74% U.S. versus 26% non-U.S. That compares to 58% U.S. versus 42% non-U.S. in MSCI’s flagship ACWI global index, which covers large- an...