That’s quite an interesting asset allocation. Currently it is very conservative, but 5 years ago it was balanced. It has Alternatives and Real Estate exposure, not found in many funds. I am sure it is actively managed [Given the 2019 rebalancing into fixed income] and possibly invested into other actively managed fund of funds. Actively managed funds are managed by Fund Managers who are supposed to have very deep insights.Thanks for the article. Below is the allocation graph for one of my funds. I believe you can see it is quite conservative.
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Just by looking into the asset allocation it is harder to say anything more. Since you are happy with it, that’s what matters.
I personally don’t prefer active management but that’s very debatable and there are a lot of very convincing arguments on both sides.