"You cannot make these massive shifts easily," said Mr. Nobrega, who is shifting to an allocation that will have almost half of assets in alternatives from a current mix of about 25percentt in alternatives and 75percentt in public markets.
Both concentrate their bets, with half of assets in their ten biggest holdings.
It has about 50% in issues rated lower than B. T. Rowe's Vaselkiv started playing it safe in July, cutting B and lower-rated bonds down to half of assets.
Yet rich spouses (mostly husbands) got around this by hiding millions of dollars in various trusts, meaning that on the day of divorce the ex-wife who stayed home to look after the children might walk out in relative poverty, receiving only half of assets that weren't hidden away.
If you've got half of your assets in a single asset class, U.S. stocks, and you have 90% of your assets in U.S. marketable securities, you're not diversified.
You have half of your assets in one single asset class: U.S. common stocks.
Net flows of $7 billion accounted for half of the asset growth, much of that to the S&P 500 Low Volatility Portfolio (SPLV).
Also on Wednesday, Fortis said that the sale of half of its asset management division to China's Ping An for 2.2 billion euro ($3.07) was being scrapped.
Fortis rose 0.8%, in Amsterdam, on reports that China's Ping An Insurance was in final talks to acquire half of its asset management arm.
Sometimes I think of getting divorced, but we live in Pennsylvania, which means legally he'll likely be entitled to half of our assets from the marriage--half of my assets.
"The write-down underscores how significantly asset values have declined in the sector over the past couple of years," LaMotte said, adding that nearly half of the assets come from the company's Premcor acquisition in 2006.
