Goal-based Investing: Theory And Practice

di Romain Deguest (Autore)

Lionel Martellini (Autore)

Vincent Milhau (Autore)

World Scientific Publishing Co Pte Ltd, 2021

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.

• Autore: Romain Deguest, Lionel Martellini, Vincent Milhau
• Editore: World Scientific Publishing Co Pte Ltd
• Anno: 2021
• Rilegatura: Hardback
• Pagine: 324 p.
• EAN: 9789811240942

Testo in English