How often are the AJ Bell Passive funds rebalanced?
We manage the funds every day. Rather than rebalance the funds wholesale, which can be unnecessarily expensive, we use cash flow to keep the asset allocation in line with the target portfolio.
Every quarter, we update the long-term strategic asset allocation. During this process, we look at the potential changes to calculate whether the cost-benefit analysis requires a change to the portfolio. It's an approach which limits the risk of buying and selling unnecessarily, minimising transaction costs.