An overview of asset allocation processes and their importance in portfolio management

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dc.contributor.advisorDe Villiers, J. U.
dc.contributor.authorGantz, Frederick Albrecht
dc.contributor.otherStellenbosch University. Faculty of Economic and Management Sciences. Dept. of Business Management.en_ZA
dc.date.accessioned2012-08-27T11:34:51Z
dc.date.available2012-08-27T11:34:51Z
dc.date.issued2001-04
dc.descriptionAssignment (MComm)--University of Stellenbosch, 2001.en_ZA
dc.description.abstractENGLISH ABSTRACT: Rapid development of asset pricing models, asset return prediction models, information technologies, and the integration and globalisation of world economic markets, require the investor to have a fundamental understanding of the role of asset allocation (diversification) and the various strategies available in achieving investor's risk and return objectives. Assets are allocated across different asset classes in an attempt to optimise the combination of investment returns and investment risk. In this way your investment will not be subject to the volatility of anyone asset class alone. It is important to note that the movements of one class of assets (stocks, bonds or cash) may be somewhat offset by the non-correlated movement of a different class of assets. The intent of asset allocation is not necessarily to increase return as much as it is to fmd the accepted rate of return, while simultaneously reducing risk or maintaining it at a predefined level. This study explores the underlying theories concerning the relative importance of asset allocation in determining portfolio performance, and the three primary asset allocation strategies available. It also discusses relevant theory of how the predictability of asset returns and the investment horizon of a portfolio can have an impact on which asset allocation strategy to utilize in achieving the necessary risk and return objectives of the investor.en_ZA
dc.description.abstractAFRIKAANSE OPSOMMING: Die toenemende ontwikkeling van bate prys modelle, modelle wat die opbrengs van bates vooruitskat, informasie tegnologie, asook die integrasie en globalisering van internasionale ekonomiese markte, vereis dat die investeerder 'n omvangryke kennis moet beskik oor die rol van bate allokasie (diversifisering) en die verskillende strategië beskikbaar tot die bereiking van investeerder risiko en opbrengs doelwitte. Bates word geallokeer tussen verskillende bate kategorieë (aandele, effekte of kontant) in die poging om die kombinasie tussen belegging opbrengste en belegging risiko te optimaliseer. Sodoende word die belegging nie blootgestel aan die onbestendigheid van slegs een bate kategorie nie. Daar moet gelet word dat die beweging van een kategorie van bates (aandele, effekte of kontant) teengewerk kan word deur die nie-korrelerende beweging van 'n ander kategorie van bates. Die voorneming van bate allokasie is nie noodwendig die toename van opbrengste nie. Daar word gestreef na die bereiking van 'n aanvaarbare opbrengskoers, terwyl risiko verminder word of volhou word op 'n voorafbepaalde vlak. Hierdie studie ondersoek die onderliggende teorieë rakende die relatiewe belangrikheid van bate allokasie om portefuelje opbrengste te kan bepaal, asook die drie primêre bate allokasie strategieë beskikbaar. Relevante teorie word bespreek, betreffende die vooruitskatting van bate opbrengste en die horison van 'n portefuelje, asook die impak wat beide het op die keuse van 'n geskikte bate allokasie strategie, om sodoende aan die nodige risiko en opbrengs doelwitte van die investeerder te kan voldoen.af_ZA
dc.format.extent91 p.
dc.identifier.urihttp://hdl.handle.net/10019.1/52118
dc.language.isoen_ZAen_ZA
dc.publisherStellenbosch : Stellenbosch Universityen_ZA
dc.rights.holderStellenbosch Universityen_ZA
dc.subjectPortfolio managementen_ZA
dc.subjectAsset allocationen_ZA
dc.subjectInvestments -- Managementen_ZA
dc.subjectDissertations -- Business economicsen_ZA
dc.subjectTheses -- Business economicsen_ZA
dc.titleAn overview of asset allocation processes and their importance in portfolio managementen_ZA
dc.typeThesisen_ZA
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