“” Mortality risk may suggest the holding of a liquidity reserve fund but otherwise plays no explicit role in strategic asset allocation."
(Institute 278) Institute, CFA. Level III 2013 Volume 3 Capital Market Expectations, Market Valuation, and Asset Allocation. John Wiley & Sons (P&T), 6/18/2012. Why? Funeral expenses? EDIT: AF keeps eating my words because of the less-than and greater-than signs.