PT  - JOURNAL ARTICLE
AU  - Fraser, Steve P.
AU  - Payne, Brian C.
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  - http://jwm.iijournals.com/content/21/2/27.short
4100  - http://jwm.iijournals.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.