Asset allocation: analysis of theory and practice in the Australian investment management industry

Santacruz, Lujer (2014) Asset allocation: analysis of theory and practice in the Australian investment management industry. In: 27th Australasian Finance and Banking Conference (AFBC 2014), 16-18 Dec 2014, Sydney, Australia.

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Asset allocation is the decision on how much of the investment portfolio to place in each of the broad asset classes (e.g. cash, fixed interest securities, property, equities). It is a key decision area in the investment management industry, where professional investors manage pooled investments. The present research aims to examine any dichotomy between theory and practice of asset allocation in the Australian investment management industry. Studying asset allocation theory and practice in relation to one another may lead to finding ways to improve both. The present research identifies gaps between theory and practice and the reasons for their existence and make recommendations that may help reduce the gap. It surveys the available body of research on Modern Portfolio Theory from the seminal Markowitz mean-variance formulation to subsequent research strands. The present research utilises a combination of qualitative and quantitative methods to examine the level of awareness and usage of asset allocation theories and theory-based methods among investment management industry practitioners.

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Item Type: Conference or Workshop Item (Commonwealth Reporting Category E) (Paper)
Refereed: Yes
Item Status: Live Archive
Additional Information: No evidence of copyright restrictions preventing display of paper.
Faculty / Department / School: Current - Faculty of Business, Education, Law and Arts - School of Commerce
Date Deposited: 07 May 2015 01:52
Last Modified: 29 Mar 2018 02:27
Uncontrolled Keywords: asset allocation
Fields of Research : 14 Economics > 1402 Applied Economics > 140207 Financial Economics
Socio-Economic Objective: B Economic Development > 90 Commercial Services and Tourism > 9001 Financial Services > 900199 Financial Services not elsewhere classified

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