One way to use the indexes proactively is to stress test portfolios, State Street says, noting that institutional investors can work to construct allocation models that can be resilient in volatile times and still capture upside in more stable periods.

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Open allocation seems too insane to work until you consider how terribly closed allocation works: unnecessary turnover, bad behavior resulting from a need for visibility amid a competitive transfer market, warring departments and teams, and extremely low motivation.

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Most asset allocation questionnaires work the same way as a Cosmo quiz.

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Ms Sturgeon had spoken to other devolved governments and the UK government, and agreed that officials would work together to devise an alternative allocation method.

BBC: Nicola Sturgeon

Frank also cites an American Bar Association ethics ruling suggesting law firms should only bill clients their actual cost plus a reasonable allocation of overhead, including the cost of outsourced legal work.

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They all work well with each other, but this is certainly not the optimal organization or allocation of resources if you were designing a system from scratch.

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