1Q26_ Quarterly Outlook Report_Final_EN - Flipbook - Page 111
T H E P LUMB LI N E | A RETU RN TO F I RS T PRI N CI PL ES
GLOBAL ASSET ALLOCATION
Warren Hastings
Managing Director, Investment
Strategy, Canada
Jorge Gutierrez Tostado
Managing Director of Investment
Strategy, Mexico
Rene Eduardo Peragallo Lizana
Managing Director Investment
Strategy
Walid Khalid
Director, Investment Strategy
UW
N
OW
Δ
Domestic
U.S.
=
International
=
Sovereign
IG
=
HY
=
Asset class
Equities
Fixed income
Scotia Wealth Management | UW = underweight, N = neutral, OW = overweight Positioning represents current tactical asset allocation mix relative to
strategic asset allocation.
Asset class
Exp. return
Hist. return
Volatility
Canada
9.7%
8.4%
19.4%
U.S.
9.0%
10.9%
15.1%
International
5.7%
6.1%
16.9%
Sovereign
3.3%
3.1%
3.4%
IG
4.2%
4.0%
5.2%
HY
6.0%
6.9%
9.1%
Equities
Fixed income
Source: Scotia Wealth Management, Bloomberg Finance LP | Expected returns shown are 10-year annualized. Historical returns and volatility are based
on 20 years of data. | Volatility is measured as annualized standard deviation of returns. | All historical returns shown are in USD terms | Fixed income
historical returns and volatility are premised on USD-hedged indices.
110
