How often should risk estimates be refreshed?

Investment risk estimates should be refreshed annually.

They should also be reviewed any time there is a significant change in the portfolio's asset allocation – for example, an update to the Strategic Asset Allocation. Please let us know when such events occur.

Our risk model is designed to be stable over time, so it won't suddenly give portfolios new risk ratings whenever there's a bout of market volatility. So, you don't have to worry about refreshing risk estimates every few months.

Portfolios are likely to switch risk bands only if they're right on the borderline – and even then, we would say that they can justifiably be recommended to investors on either side.