Expected Utility Asset Allocation
نویسنده
چکیده
Many institutional investors periodically adopt an asset allocation policy that specifies target percentages of value for each of several asset classes. Typically a policy is set by a fund’s board after evaluating the implications of a set of alternative policies. The staff is then instructed to implement the policy, usually by maintaining the actual allocation to each asset class within a specified range around the policy target level. Such asset allocation (or asset/liability) studies are usually conducted every one to three years or sooner when market conditions change radically.
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