Defense starts with income.
Defense in football isn’t passive—it’s about controlling the opponent, protecting your field position, and setting up the next opportunity. In portfolios, defensive strategies start with income, then seek to preserve capital and provide stability when equity markets struggle.
Defense: Stabilizers intended to generate income and help cushion drawdowns.
Just as defensive coordinators call different schemes based on the situation—prevent, zone, or blitz—advisors may deploy income strategies with varying levels of conservatism or aggressiveness depending on client yield requirements and risk tolerance.
Above is how defense works across three primary approaches: prevent, zone, and blitz.
Prevent Defense: Income and Stability from High-Quality Fixed Income
Zone Defense: High Income from Private Credit
Blitz Defense: Aggressive Yield from Mezzanine to Distressed
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CONTENTS
A New Playbook for Client Portfolios
Framing the History of Alts and Asset Allocation Through Football
Today’s Updated Playbook: Alts Playing Alongside Their Stock and Bond Teammates
Offense: Growth Assets and Strategies
Defense: Income Assets and Strategies
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