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Derivatives Strategies for Endowment and Foundation Portfolios: The Manager Perspective
| Content Provider | Semantic Scholar |
|---|---|
| Author | Asness, Clifford S. |
| Copyright Year | 1996 |
| Abstract | Endowment and foundation funds typically use a mix of 60 percent equities and 40 percent fixed income in their portfolios. Historical data show, however, that for longterm investors, a 100 percent equity portfolio yields the highest returns. But the allequity portfolio has a standard deviation of 20 percent. For investors willing to accept this level of risk, a levered 60/40 stocks/bonds portfolio actually produces returns greater than the 100 percent equity portfolio. |
| Starting Page | 73 |
| Ending Page | 77 |
| Page Count | 5 |
| File Format | PDF HTM / HTML |
| DOI | 10.2469/cp.v1996.n7.15 |
| Alternate Webpage(s) | https://www.aqr.com/-/media/AQR/Documents/Insights/Journal-Article/Derivatives-Strategies-for-Endowment-and-Foundation-Portfolios-The-Manager-Perspective.pdf |
| Alternate Webpage(s) | https://doi.org/10.2469/cp.v1996.n7.15 |
| Volume Number | 1996 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
