2theassetallocationdecision中文2资产配置决策.pptVIP

Lecture Presentation Software to accompanyInvestment Analysis and Portfolio ManagementSeventh Editionby Frank K. Reilly Keith C. Brown;Chapter 2The Asset Allocation Decision;Chapter 2The Asset Allocation Decision;Financial Plan Preliminaries;Financial Plan Preliminaries;Financial Plan Preliminaries;Individual Investor Life Cycle;Individual Investor Life Cycle;Life Cycle Investment Goals;The Portfolio Management Process;The Portfolio Management Process;The Portfolio Management Process;The Portfolio Management Process;The Portfolio Management Process;The Need For A Policy Statement;Investment Objectives;Investment Objectives;Investment Objectives;Investment Constraints;Investment Constraints;Investment Constraints;Equivalent Taxable Yield;Example;Effect of Tax Deferral on Investor Wealth over Time;Methods of Tax Deferral;Legal and Regulatory Factors;Unique Needs and Preferences;Constructing the Policy Statement;The Importance of Asset Allocation;The Importance of Asset Allocation;Returns and Risk of Different Asset Classes;Returns and Risk of Different Asset Classes;Asset Allocation Summary;Asset Allocation and Cultural Differences;Summary;The InternetInvestments Online;Appendix Objectives and Constraints of Institutional Investors Mutual Funds – pool investors funds and invests them in financial assets as per its investment objective ;Pension Funds;Endowment Funds;Insurance Companies;Insurance Companies;Banks;Future topicsChapter 3