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i select and justify an appropriate set of asset classes for an investor; Flashcards Preview
L3 19 Asset Allocation
> i select and justify an appropriate set of asset classes for an investor; > Flashcards
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L3 19 Asset Allocation
Class (20):
A Explain The Function Of Strategic Asset Allocation In Portfolio Management And Discuss Its Role In Relation To Specifying And Controlling The Investor’s Exposures To Systematic Risk;
B Compare Strategic And Tactical Asset Allocation;
C Discuss The Importance Of Asset Allocation For Portfolio Performance;
D Contrast The Asset Only And Asset/Liability Management (Alm) Approaches To Asset Allocation And Discuss The Investor Circumstances In Which They Are Commonly Used;
E Explain The Advantage Of Dynamic Over Static Asset Allocation And Discuss The Trade Offs Of Complexity And Cost;
F Explain How Loss Aversion, Mental Accounting, And Fear Of Regret May Influence Asset Allocation Policy;
G Evaluate Return And Risk Objectives In Relation To Strategic Asset Allocation;
H Evaluate Whether An Asset Class Or Set Of Asset Classes Has Been Appropriately Specified;
I Select And Justify An Appropriate Set Of Asset Classes For An Investor;
J Evaluate The Theoretical And Practical Effects Of Including Additional Asset Classes In An Asset Allocation;
K Demonstrate The Application Of Mean–Variance Analysis To Decide Whether To Include An Additional Asset Class In An Existing Portfolio;
L Describe Risk, Cost, And Opportunities Associated With Nondomestic Equities And Bonds;
M Explain The Importance Of Conditional Return Correlations In Evaluating The Diversification Benefits Of Nondomestic Investments;
N Explain Expected Effects On Share Prices, Expected Returns, And Return Volatility As A Segmented Market Becomes Integrated With Global Markets;
O Explain The Major Steps Involved In Establishing An Appropriate Asset Allocation;
P Discuss The Strengths And Limitations Of The Following Approaches To Asset Allocation: Mean–Variance, Resampled Efficient Frontier, Black–Litterman, Monte Carlo Simulation, Alm, And Experience Based;
Q Discuss The Structure Of The Minimum Variance Frontier With A Constraint Against Short Sales;
R Formulate And Justify A Strategic Asset Allocation, Given An Investment Policy Statement And Capital Market Expectations;
S Compare The Considerations That Affect Asset Allocation For Individual Investors Versus Institutional Investors And Critique A Proposed Asset Allocation In Light Of Those Considerations;
T Formulate And Justify Tactical Asset Allocation (Taa) Adjustments To Strategic Asset Class Weights, Given A Taa Strategy And Expectational Data.