In a recent blog we stressed that Asset Allocation was capable of being responsible of providing up to 80% of the total return from a portfolio and as a comparison we stated that Asset Allocation was the Elephant of investment returns and Investment Charges the mouse.
So if you are looking for Elephant type returns then your focus or your advisers focus should be on Allocation, if you want returns that are more like Mouse droppings then focus on investment charges.
One of our Brexit ready portfolios (although created for defensive qualities), was prepare with both tactical and strategic allocation in mind and has provided a positive return in a difficult market.