Research and publications
It's Time for Asset Allocation
Despite repeated evidence that asset allocation accounts for a very large fraction of a portfolio return, the industry has never stopped favouring stock picking as the preferred form of active investment strategy. In this paper, we attempt to rehabilitate the importance of active asset allocation in the investment process. A revisited version of this paper was published in the December 2001 issue of the Journal of Financial Transformation.
Author(s):
Noël Amenc, Lionel Martellini
Summary:
Despite repeated evidence that asset allocation accounts for a very large fraction of a portfolio return, the industry has never stopped favouring stock picking as the preferred form of active investment strategy. In this paper, we attempt to rehabilitate the importance of active asset allocation in the investment process. A revisited version of this paper was published in the December 2001 issue of the Journal of Financial Transformation.
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Register/Log in| Type : | Working paper |
|---|---|
| Date : | 13/11/2001 |
| Keywords : |
Asset Allocation |
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