As an experienced financial advisor, you are asked to construct a strategic asset allocation plan for a client named Emily. Emily is 50 years old, has a moderate risk tolerance, and aims to retire at age 65. She currently has a diversified portfolio that includes equities, fixed income, and alternative investments. Emily is particularly concerned about market volatility impacting her portfolio in the years leading up to her retirement.

Your goal is to recommend an asset allocation strategy that balances risk and return, considering her time horizon, risk tolerance, and investment objectives. Based on her profile, which of the following strategic asset allocation adjustments would be most appropriate for Emily?