Excellent article which considers several key aspects of asset allocation. I agree with the author when he says "The greater focus on environmental, social, and governance (ESG) factors."...

In fact ESG focussed companies' profitability is lower based on a recent study, but the investors of such entities are rewarded through higher valuation multiples. The post COVID era (let's hope COVID is already gone) has really shaken the tectonic plates of several industries with a jarring effect due to the excessive liquidity constantly being pumped into the system the world over.

In this scenario, asset allocation should not be skewed towards equity at the risk of even losing the original capital.