publication . Preprint . 2004

Fundamental-driven and Tactical Asset Allocation: what really matters?

Hartpence, Maria; Boulier, Jean-François;
Open Access
  • Published: 01 Mar 2004
Asset allocation contribution to ex-post performance is of primary importance. Nobody denies its role, yet the subject of allocating assets remains controversial. To some contenders, the added value stems only from strategic asset allocation which aims at providing the long-term average exposure to the selected asset classes. On the other hand, proponents of active management have introduced several forms of tactical asset allocation. In this paper, we will go a step further by distinguishing between long-term strategic asset allocation, medium-term strategic or fundamental-driven asset allocation and, finally, tactical asset allocation. “Fundamental-driven” ref...
free text keywords: Asset Pricing; Portfolio Choice; Bond Interest Rates;, jel:G24, jel:G12, jel:G11
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