Map each holding to a goal
Portfolios often grow by accumulation rather than design. A review begins by asking what each fund is for and which goal it supports.
Look for overlap
Several funds in the same category can hold many of the same underlying securities. More funds is not the same as more diversification.
Judge process, not just outcomes
Short periods can flatter or punish any strategy. Consider the mandate, the consistency of the approach and the cost you are paying, alongside performance.
Key Takeaways
- Start by mapping each fund to a goal — funds without a purpose need a decision.
- Overlapping funds can add complexity without adding diversification.
- Consistency of process matters more than a single period's ranking.
- Mutual Funds
- Portfolio Review
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