The multi-asset sector is a mess. Risk suffixes such as 'targeted', 'profiled', 'rated' and so on are so loosely applied to funds as to make them meaningless - and potentially misleading.
Only a minority of funds are managed to a volatility target - and even they are loath to state the targets in their objectives. As I suggested last time, most ‘risk-labelled' funds pay no more than a passing...
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