PT - JOURNAL ARTICLE AU - Steve P. Fraser AU - Brian C. Payne TI - Bond Tents: <em>Reshaping the Equity Glide Slope at the End of Wealth Accumulation</em> AID - 10.3905/jwm.2018.21.2.027 DP - 2018 Jul 31 TA - The Journal of Wealth Management PG - 27--38 VI - 21 IP - 2 4099 - https://pm-research.com/content/21/2/27.short 4100 - https://pm-research.com/content/21/2/27.full AB - Asset allocation is widely accepted as a primary driver of portfolio returns over time. Conventional investment practice recommends that investors reduce their risk and thus increase their allocation to fixed-income investments as they approach retirement. This research extends the literature by examining the shape of the fixed-income glide slope prior to retirement. The results suggest that portfolios with high fixed-income allocations, or bond tents, can serve investors well, and nonlinear glide slopes can produce favorable portfolio characteristics for investors.TOPICS: Fixed income and structured finance, portfolio construction, retirement