When might an investor reassess their investment mandate?

An investor might reassess their investment mandate after substantial economic changes or personal circumstances because such events can significantly impact their financial goals, risk tolerance, and overall investment strategy. For example, changes in the economic environment, such as a recession or boom, could alter market conditions that necessitate a reevaluation of investment priorities and strategies. Similarly, personal circumstances such as a significant life event (like a job loss, inheritance, or retirement) can lead to a shift in an investor's financial needs and objectives.

Regularly assessing the investment mandate ensures that the investor's portfolio aligns with their current situation and the evolving economic landscape. This reflection helps them optimize their investment strategy to maintain or improve their financial security and meet their changing goals effectively. Each of the other choices implies a more frequent or less significant trigger for reevaluation, which might not be sufficient to ensure an optimal investment approach. For instance, reassessing the mandate only whenever market conditions are favorable or before every quarterly report could lead to reactionary decisions rather than thoughtful and strategic adjustments.