Goal-Based Investing: Theory And Practice
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Goal-based investing is a new paradigm that is expected to have a profound and long-lasting impact on the wealth management industry. This book presents the concept in detail and introduces a general operational framework that can be used by financial advisors to help individual investors optimally allocate their wealth by identifying performance-seeking assets and hedging assets. Grounded in the principles of asset pricing and portfolio optimisation, the goal-based investing approach leads to the design of investment solutions that truly respond to investors' problems, which can most often be summarized as follows: secure essential goals with the highest confidence level and maximize the chances to reach aspirational goals.A series of case studies guides the reader through the implementation of goal-based investing, illustrates the efficiency of this paradigm and explains how one can accommodate a variety of implementation features such as taxes, short-sales constraints, parameter estimation risk, as well as limited customisation.
Format:Hardcover
Language:English
ISBN:9811240949
ISBN13:9789811240942
Release Date:July 2021
Publisher:World Scientific Publishing Company
Length:324 Pages
Weight:1.33 lbs.
Dimensions:0.8" x 6.0" x 9.0"
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