{"product_id":"the-use-of-risk-budgets-in-portfolio-optimization-paperback","title":"The Use of Risk Budgets in Portfolio Optimization - Paperback","description":"\u003cdiv\u003e\u003cp style=\"text-align: right;\"\u003e\u003ca href=\"https:\/\/reportcopyrightinfringement.com\/\" target=\"_blank\" rel=\"nofollow\"\u003e\u003cb\u003eReport copyright infringement\u003c\/b\u003e\u003c\/a\u003e\u003c\/p\u003e\u003c\/div\u003e\u003cp\u003eby \u003cb\u003eAlbina Unger\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003eRisk budgeting models set risk diversification as objective in portfolio allocation and are mainly promoted from the asset management industry. Albina Unger examines the portfolios based on different risk measures in several aspects from the academic perspective (Utility, Performance, Risk, Different Market Phases, Robustness, and Factor Exposures) to investigate the use of these models for asset allocation. Beside the risk budgeting models, alternatives of risk-based investment styles are also presented and examined. The results show that equalizing the risk across the assets does not prevent losses, especially in crisis periods and the performance can mainly be explained by exposures to known asset pricing factors. Thus, the advantages of these approaches compared to known minimum risk portfolios are doubtful.\u003c\/p\u003e\u003ch3\u003eBack Jacket\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eRisk budgeting models set risk diversification as objective in portfolio allocation and are mainly promoted from the asset management industry. Albina Unger examines the portfolios based on different risk measures in several aspects from the academic perspective (Utility, Performance, Risk, Different Market Phases, Robustness, and Factor Exposures) to investigate the use of these models for asset allocation. Beside the risk budgeting models, alternatives of risk-based investment styles are also presented and examined. The results show that equalizing the risk across the assets does not prevent losses, especially in crisis periods and the performance can mainly be explained by exposures to known asset pricing factors. Thus, the advantages of these approaches compared to known minimum risk portfolios are doubtful.\u003c\/p\u003e\u003cp\u003e \u003cb\u003eContents\u003c\/b\u003e\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eTheoretical Background\u003c\/li\u003e\n\u003cli\u003eAlternative Approaches in Portfolio Management\u003c\/li\u003e\n\u003cli\u003eMinimum Risk Portfolios\u003c\/li\u003e\n\u003cli\u003eRisk Budgeting Portfolios\u003c\/li\u003e\n\u003cli\u003eRobustness\u003c\/li\u003e\n\u003cli\u003eFactor Models\u003c\/li\u003e\n\u003c\/ul\u003e\u003cp\u003e\u003cb\u003e \u003c\/b\u003e\u003cb\u003eTarget Groups\u003c\/b\u003e\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eResearchers and students in the field of economics with a focus on finance and financial economics\u003c\/li\u003e\n\u003cli\u003eFinance\/investment professionals\u003c\/li\u003e\n\u003c\/ul\u003e\u003cp\u003e \u003cb\u003eThe Author\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003eAlbina Unger holds a doctoral degree from the Faculty of Finance at the University of Bremen, Germany. She now works as a risk manager.\u003c\/p\u003e\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003eAlbina Unger holds a doctoral degree from the Faculty of Finance at the University of Bremen, Germany. She now works as a risk manager.\u003c\/p\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 424\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 1 x 8.27 x 5.83 IN\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eIllustrated:\u003c\/strong\u003e Yes\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e September 22, 2014\u003c\/div\u003e\n            ","brand":"BooksCloud","offers":[{"title":"Default Title","offer_id":52485725487411,"sku":"9783658072582","price":96.08,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0300\/5595\/6612\/files\/BfxkRVVA449783658072582.webp?v=1759809274","url":"https:\/\/www.vysn.com\/en-ca\/products\/the-use-of-risk-budgets-in-portfolio-optimization-paperback","provider":"VYSN","version":"1.0","type":"link"}