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    An investigation into the importance of asset allocation decision on portfolio performance in Zimbabwe

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    Nyambuya_An_investigation_into_the_importance_of_asset_allocation_decision_on_portfolio_performance.pdf (846.7Kb)
    Date
    2017-05
    Author
    Nyambuya, Leonard
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    Abstract
    This study investigated the impact on performance of asset allocation policy relative to active management and market movement. In aggregate, 100 percent of return levels come from asset allocation, for aggregate return levels, asset allocation has the highest explanatory power. Most of the portfolio variation using both time-series and cross sectional regressions (around 80 percent) comes from general market movement. After the removal of market movements, asset allocation and active management play an almost equal important role in determining portfolio return differences within a peer group. The findings of this study suggest that establishing an asset allocation policy consistent with an investor’s goals, investment horizon, and risk tolerance must be the first priority for fund managers and sponsors.
    URI
    http://hdl.handle.net/10646/3283
    Additional Citation Information
    Nyambuya, L. (2014). An investigation into the importance of asset allocation decision on portfolio performance in Zimbabwe (Unpublished master's thesis). University of Zimbabwe.
    Subject
    Asset allocation
    Investments
    Performance management
    Investment management industry
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    • Faculty of Business Management Sciences and Economics e-Theses Collection [496]

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