|Total population (m.):||10.7|
|GDP per capita (USD):||22765|
Dynamic Strategic Asset Allocation
Given the nature of the objectives of the Social Security Reserve Fund (Fundo de estabilização Financeira da Segurança Social (FEFSS)) (as a social security buffer fund) and restrictions - allocation heavily skewed towards debt, e.g. a minimum of 50 per cent of the portfolio must be held in Portuguese Government Debt, and a risk budget identical to the volatility of this asset class - a case can be made for considering Portuguese Government Debt as a proxy liability for the FEFSS.