Asset allocation quarterly

David Wolf and David Tulk

Asset allocation quarterly – from a Canadian perspective



Debt is fine until it isn’t

Fourth Quarter 2020

Rising debt seems to be keeping both markets and economies going, especially in today’s COVID-impaired world. In their latest paper, David Tulk and David Wolf explain how their active asset allocation strategies are addressing the short and long-term consequences of today’s debt-driven markets.

Diversification amid the disconnect

Third Quarter 2020

David Tulk and David Wolf emphasize the importance of portfolio diversification that appropriately manages risk while maximizing performance.


在股市與經濟脫節時的分散投資 (Chinese version) pdf

This too shall pass

Second Quarter 2020

David Wolf and David Tulk discuss the impact of the COVID-19 pandemic and what they’re doing in the multi asset class funds they manage for Canadian investors.

Read article pdf

終將雨過天青 (Chinese version) pdf

“Hit ‘em where they ain’t”

First Quarter 2020

David Wolf and David Tulk discuss the risks of allocating assets based on consensus expectations and the value of investing in markets where others are not.

How going global can help Canadian investors

Fourth Quarter 2019

David Wolf and David Tulk tackle a frequently asked question: How should Canadian investor portfolios be split between foreign and domestic assets? They discuss the notion of ‘home bias’ and the diverse factors that determine the appropriate asset split for Canadian investors.

Read article pdf

Respecting the unknowable

Third Quarter 2019

David Wolf and David Tulk describe the unusual uncertainty of the global economy because of trade tensions and lower interest rates. They discuss how these factors are impacting their current active asset allocation positioning.

Read article pdf

Reacting to the reaction function

Second Quarter 2019

David Wolf and David Tulk discuss the Q1 rebound, which was led by the U.S. Federal Reserve’s dovish pivot. They discuss what this may mean for markets and for them as asset allocators.

Read article pdf

The four pillars for 2019

First Quarter 2019

David Wolf and David Tulk discuss what the year ahead may bring for investors, and apply their four-pillar framework to answer this question and guide their active allocation decisions.

Read article pdf

When the secular and the cyclical align

Fourth Quarter 2018

David Wolf and David Tulk discuss their positioning in the Canadian multi-asset class funds. They continue to actively overweight foreign assets in the funds, in light of challenges on both the secular and cyclical horizon.

Read article pdf



Commissions, fees and expenses may be associated with investment funds. Read a fund’s prospectus or offering memorandum and speak to an advisor before investing.  Funds are not guaranteed, their values change frequently and investors may experience a gain or loss.  Past performance may not be repeated.

Read our privacy policy.  By using or logging in to this website, you consent to the use of cookies as described in our privacy policy.

This site is for persons in Canada only.  Mutual funds and ETFs sponsored by Fidelity Investments Canada ULC are only qualified for sale in the provinces and territories of Canada.


Close Search