With all the parts in hand, we update prices and valuations at each month-end, and rebalance the portfolio into the stock/bond/cash allocations that match the optimal risk vs. return trade-off that the asset allocation model determines.

Finally, in order to put in place the allocation decision, we utilize index-style securities to position the optimal mix, giving us the return performance within markets that we desire, with little extra variance, with excellent liquidity, and at very low cost.