November 16, 2023: We recommend the following changes to our Model Fund Portfolio:

As the battle between the bulls and bears continues to rage on both the technical and macroeconomic front, the market is exhibiting resilience that warrants an incremental increase in equity allocation.  As will be featured in this month’s issue of InvesTech Research, we currently view the dividend aristocrats –companies that have raised their dividend for at least 25 consecutive years regardless of economic conditions– as one of the most attractively valued areas of the market. As a result, we are recommending the following change in the Model Fund Portfolio:

• Increase the ProShares S&P 500 Dividend Aristocrats ETF (symbol: NOBL) from 8% to 12%.

The Model Fund Portfolio now has a net invested allocation of 49%, with the remainder (51%) held in short-term Treasurys or a money market fund.