 | Տեսակը / The Endowment Model of Investing Հրատարակման տարեթիվ: 2010 Հրատարակիչ: John Wiley & Sons, Inc. Էջերի քանակը: 355 The purpose of this volume is to focus on the endowment allocation model, to understand the source of its value to investors, to analytically examine its theoretical underpinnings and its empirical behavior, and finally, to reassess where and when it should be used given its benefits and limitations. It does so by adopting a new approach to describing the risk-and-return characteristics of individual asset classes and then exploring how this reformulation affects their role within a total portfolio. U.S. equity turns out to be the primary risk factor in most institutional portfolios. A total portfolio’s beta is derived by combining the explicit equity percentage with the correlation-based equity sensitivity that is implicitly present in all nonequity assets. This total beta approach suggests most U.S. institutional funds share three surprising characteristics: Մուտք` ընթերցման միջավայր Գրանցում | Ձեզ կհետաքրքրի նաև |
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This research paper was co-financed by a PFS Program grant, a regional financial sector development program financed by the United States Agency for International Development (USAID). The opinions expresses herein are those of INSTITUTION and do not represent the opinions of the PFS Program or USAID.