CMS Model Portfolio Update: It's All About Interest Rates

It has been some time since we did a thorough update of the CMS Model Portfolio, so we decided to dedicate a few pages to this topic here. Before we dive into performance and changes to the portfolio, we wanted to discuss the strategy of the portfolio as a refresher.  Portfolio Strategy The strategy of the portfolio is meant to be largely a passive, low-cost portfolio strategy diversified by asset class (equity, fixed income), geography (Canada, U.S., International), currency...