“Edward Qian, CIO for multi-asset investments at PanAgora Asset Management, was one of those to help coin the name in a seminal 2005 paper. He’s keeping faith in the traditional version of the rules-based strategy. ‘You cannot just say because bond yields are low, they’re going to rise and let’s not invest in government bonds,’ said Boston-based Qian. ‘That’s contradictory to the risk-parity approach.’”

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