Beyond Diversification: What Every Investor Needs to Know About Asset Allocation

Generate solid, long-term profits with a portfolio allocated for your investing needs 

Asset allocation is the key to investing performance. Unfortunately, no single approach works perfectly―developing the right balance requires a clear-eyed look at the many models available to you, various investing methodologies, and your or your client’s level of risk tolerance. And that’s where this important guide comes in.  

Written by a leading allocation expert from T. Rowe Price, Beyond Diversification provides the knowledge, insights, and approaches you need to make the best allocation decisions for your goals. This deep dive into the how’s and why’s of asset allocation is organized by the three decisive components of a successfully allocated portfolio:

• Return Forecasting discusses the desired return investors seek.
• Risk Forecasting covers the level of risk investors are prepared to assume to achieve that return.
• Portfolio Construction calibrates the stock-bond mix that balances the risks and returns.

With examples from T. Rowe Price’s asset allocation team showing you how the process works in the real world, Beyond Diversification provides everything you need to find the asset combination that will deliver the results you seek. You’ll learn how to choose the right tradeoffs, build the most effective asset allocation combination for your needs, and dramatically increase your odds of success for the long run. 

Sébastien Page is head of Global Multi-Asset at T. Rowe Price, overseeing a team of investment professionals dedicated to a broad set of multi-asset portfolios representing more than $350 billion in assets, including the firm’s target date franchise. He is a member of the Asset Allocation Committee, which is responsible for tactical investment decisions across asset allocation portfolios. He is also a member of the Management Committee of T. Rowe Price Group, Inc. 

Prior to joining the firm in 2015, Sébastien was an executive vice president at PIMCO where he led a team focused on research and development of multi-asset solutions. Prior to joining PIMCO in 2010, he was a senior managing director at State Street Global Markets.

Sébastien has coauthored award-winning research papers for The Journal of Portfolio Management in 2003, 2010, and 2011 and the Financial Analyst Journal in 2010 and 2014. In addition to Beyond Diversification, he is the coauthor of the book Factor Investing and Asset Allocation, published by the CFA Institute Research Foundation® in 2016. Sébastien is a member of the editorial board of the Financial Analysts Journal. He is also a member of the Research Committee of the Institute for Quantitative Research in Finance (Q Group).

He regularly appears in the financial media, including Bloomberg TV and CNBC. Sébastien earned a Masters of Science degree in finance and a Bachelors degree in business administration from Sherbrooke University in Quebec. He has earned the Chartered Financial Analyst designation. 

Follow him on LinkedIn: LinkedIn.com/in/sebastien-page.