Wealthfront Shutters Fund That Brought Dalio Playbook to Masses
- Robo adviser’s Risk Parity Fund will be liquidated in January
- Strategy with $1.3 billion has badly lagged the market
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Wealthfront Inc. is closing its risk parity fund after years of poor performance, marking the end of an uphill battle to offer the sophisticated strategy to the masses.
The digital-wealth management firm said in a Monday filing that the Wealthfront Risk Parity Fund will be liquidated and dissolved on or about January 3. The product, which has almost $1.3 billion in assets, will no longer pursue its stated investment objective and will begin liquidating its portfolio “as soon as is reasonable,” the filing said.