ScholarLens Back to search
2004•The Journal of Portfolio ManagementRequires access

Strategic versus Tactical Asset Allocation

Mark J. P. Anson

Open publisher page 55 citations

Abstract

The author divides the asset allocation decision into two asset classes: beta drivers and alpha drivers. Beta drivers, which provide broad economic exposure to the financial markets, are established by the strategic asset allocation decision. Alpha drivers are designed to provide added return beyond the return offered through passive exposure to the financial markets. Alpha drivers, chosen as part of the tactical asset allocation decision, are designed to facilitate the long-term funding goals of an organization by seeking added value. Examples of how beta and alpha drivers may be used in strategic versus tactical asset allocation are provided.

About this research paper

What this paper is about

The author divides the asset allocation decision into two asset classes: beta drivers and alpha drivers. Beta drivers, which provide broad economic exposure to the financial markets, are established by the strategic asset allocation decision. Alpha drivers are designed to provide added return beyond the return offered through passive exposure to the financial markets. Alpha drivers, chosen as part of the tactical asset allocation decision, are designed to facilitate the long-term funding goals of an organization by seeking added value. Examples of how beta and alpha drivers may be used in strategic versus tactical asset allocation are provided.

Why it matters

OpenAlex reports 55 citations for this work. Citation counts describe recorded attention and do not establish research quality.

Key contribution

A contribution statement is not available in the OpenAlex record.

Method / approach

Method details are not available in the OpenAlex metadata.

Main findings

Findings are not separately available in the OpenAlex metadata.

Limitations

Limitations are not available in the OpenAlex metadata.

Applications

Application details are not available in the OpenAlex metadata.

Available abstract

The author divides the asset allocation decision into two asset classes: beta drivers and alpha drivers. Beta drivers, which provide broad economic exposure to the financial markets, are established by the strategic asset allocation decision. Alpha drivers are designed to provide added return beyond the return offered through passive exposure to the financial markets. Alpha drivers, chosen as part of the tactical asset allocation decision, are designed to facilitate the long-term funding goals of an organization by seeking added value. Examples of how beta and alpha drivers may be used in strategic versus tactical asset allocation are provided.

Key concepts: Asset allocation, Asset (computer security), Business, Asset management, Finance, IT asset management, Consumption-based capital asset pricing model, Capital asset pricing model

Related papers

Related paper 1Related paper 2Related paper 3
Back to paper searchBrowse research topicsOriginal source
Strategic versus Tactical Asset Allocation — Research Paper | ScholarLens