Goal-based Investing: Theory And Practice
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A01=Lionel Martellini
A01=Romain Deguest
A01=Vincent Milhau
Asset Allocation
Asset Pricing
Asset-Liability Management
Author_Lionel Martellini
Author_Romain Deguest
Author_Vincent Milhau
Category=KFFM
Diversification
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eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
Goal-Based Investing
Goals
Hedging
Insurance
Investment
Liabilities
Liability-Driven Investing
Portfolio Optimization
Risk Allocation
Risk Management
Wealth Management
Product details
- ISBN 9789811240942
- Publication Date: 27 Jul 2021
- Publisher: World Scientific Publishing Co Pte Ltd
- Publication City/Country: SG
- Product Form: Hardback
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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.
