Facebook LinkedIn

This special report describes our approach to Strategic Asset Allocation (SAA). (It updates a report of the same title first published in 2019.)  SAA, seen as the key driver of portfolio returns, involves the optimum allocation of investment between different asset classes in a way that is appropriate both for the client’s preferences and their geographic location.

 

This report focuses on

  • The need for an SAA to address uncertainty, anticipate the future and the management of assumptions on returns, volatility and correlation.
  • Modelling for portfolio optimization, why enhancing portfolio robustness does not mean avoiding risk and the goal of steady good results.
  • Complementing SAA with tactical asset allocation, further improving returns vs. risk, and the role of continuous improvement via quality checks. 

 

Download now

The PERSPECTIVES Special below is available to download. Please refer to the Important Information at the end of the memo for disclosures and risk warnings.

PDF

Language:

All opinions and claims are based upon data on May 5, 2025 and may not come to pass. This information is subject to change at any time, based upon economic, market and other considerations and should not be construed as a recommendation. There can be no certainty that events will turn out as we have opined herein. Past Performance and forecasts are not reliable indicators of future performance. No assurance can be given that any forecast or target will be achieved. Forecasts are based on assumptions, estimates, opinions and hypothetical models or analysis which may prove to be incorrect.

You may also be interested in

china announces stimulus measures

PERSPECTIVES Special

China announces stimulus measures

China unveiled several stimulus measures on May 7 and it was confirmed that the U.S. and China would hold official tariff negotiations this week. In this PERSPECTIVES Special, we look at the impact of these events on Chinese equities.

trump 100 days in office desktop banner

PERSPECTIVES Special

Trump’s first 100 days in office

The first 100 days of the President Trump’s second presidency has clearly pointed to an ‘America First’ agenda. We take a closer look at portfolio impact and what this means for investors globally in this PERSPECTIVES Special.

Top investment picks amid tariff uncertainty

PERSPECTIVES Special

Asia: Top investment picks amid tariff uncertainty

In this CIO Special, we look at four possible investment areas and consider their merits.

us tariffs

PERSPECTIVES Special

Hefty stock price reactions to U.S. tariffs

U.S. trade and tariff policies and their lack of predictability have caused significant price fluctuations in all areas of the financial markets. Browse this page for more details.

trump pauses reciprocal tariffs desktop image

PERSPECTIVES Memo

Trump pauses reciprocal tariffs

On Wednesday, President Trump announced his decision to put a 90-day pause on reciprocal tariffs on all countries except China. The reciprocal tariffs, which were announced a week prior, were set to take effect on April 9th and targeted a broad range of trading partners.

liberation day rattles markets

PERSPECTIVES Memo

“Liberation Day” rattles markets

The U.S. administration has now announced the details of its “reciprocal” tariffs on trading partners. In this CIO Perspectives Memo, “Liberation Day” rattles markets, we discuss how they will work, what could happen next and the implications for economies, financial markets and investors.

Show more

Show less

In Europe, Middle East and Africa as well as in Asia Pacific this material is considered marketing material, but this is not the case in the U.S.

The value of an investment can fall as well as rise and you might not get back the amount originally invested at any point in time. Your capital may be at risk.

No assurance can be given that any forecast or target can be achieved. Forecasts are based on assumptions, estimates, opinions and hypothetical models which may prove to be incorrect. Past performance is not indicative of future returns. Performance refers to a nominal value based on price gains/losses and does not take into account inflation. Inflation will have a negative impact on the purchasing power of this nominal monetary value. Depending on the current level of inflation, this may lead to a real loss in value, even if the nominal performance of the investment is positive.

This web page is not an offer to buy a security or enter into any transaction. The products, services, information and/or materials contained within these web pages may not be available for residents of certain jurisdictions. Please consider the sales restrictions relating to the products or services in question for further information. Deutsche Bank does not give tax or legal advice; prospective investors should seek advice from their own tax advisers and/or lawyers before entering into any investment.

Change of name: As part of Deutsche Bank’s Private Bank, the former International Private Bank also adopted this title on July 20, 2023.