Portfolio Management for Pension Funds
Stephen F. Witt, Richard Dobbins
Abstract
Stephen F. Witt, Richard Dobbins
Abstract
The implications of modern portfolio theory for pension fund investment management are examined and compared with actual behaviour. It appears that the extent to which pension funds diversify goes far beyond that required for risk reduction, and therefore possible alternative motives are suggested. There is also some evidence of excessive equity trading.
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The implications of modern portfolio theory for pension fund investment management are examined and compared with actual behaviour. It appears that the extent to which pension funds diversify goes far beyond that required for risk reduction, and therefore possible alternative motives are suggested. There is also some evidence of excessive equity trading.
Key concepts: Pension, Equity (law), Fund of funds, Global assets under management, Business, Portfolio, Pension fund, Investment management