haku: @indexterm FINANCIAL ANALYSIS / yhteensä: 599
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| Tekijä: | Ibbotson, R. G. Kaplan, P. D. |
| Otsikko: | Does asset allocation policy explain 40, 90, or 100 percent of performance? |
| Lehti: | Financial Analysts' Journal
2000 : JAN/FEB, VOL. 56:1, p. 26-33 |
| Asiasana: | Assets Financial analysis Rate of return Benchmarking Unit trusts Investment Policy USA |
| Kieli: | eng |
| Tiivistelmä: | Disagreement over the importance of asset allocation policy stems from asking different questions. This paper uses balanced mutual fund and pension fund data to answer the three relevant questions. It is found that appr. 90 % of the variability in returns ofa typical fund across time is explained by policy, about 40 % of the variation of returns among funds is explained by policy, and on average about 100 % of the return level is explained by the policy return level. |
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