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024 7 $a10.1007/978-3-658-07259-9
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035   $a(EBL)1965678
035   $a(OCoLC)890727122
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035   $a(PQKBTitleCode)TC0001353714
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035   $a(DE-He213)978-3-658-07259-9
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100   $a20140910d2015      u|             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 14$aThe Use of Risk Budgets in Portfolio Optimization$b[electronic resource] /$fby Albina Unger
205   $a1st ed. 2015.
210  1$aWiesbaden :$cSpringer Fachmedien Wiesbaden :$cImprint: Springer Gabler,$d2015.
215   $a1 online resource (443 p.)
300   $aDescription based upon print version of record.
311   $a3-658-07258-X 
320   $aIncludes bibliographical references.
327   $aTheoretical Background -- Alternative Approaches in Portfolio Management -- Minimum Risk Portfolios -- Risk Budgeting Portfolios -- Robustness -- Factor Models.
330   $aRisk 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.  Contents Theoretical Background Alternative Approaches in Portfolio Management Minimum Risk Portfolios Risk Budgeting Portfolios Robustness Factor Models  Target Groups Researchers and students in the field of economics with a focus on finance and financial economics Finance/investment professionals  The Author Albina Unger holds a doctoral degree from the Faculty of Finance at the University of Bremen, Germany. She now works as a risk manager.
606   $aFinance
606   $aMacroeconomics
606   $aManagement
606   $aFinance, general$3https://scigraph.springernature.com/ontologies/product-market-codes/600000
606   $aMacroeconomics/Monetary Economics//Financial Economics$3https://scigraph.springernature.com/ontologies/product-market-codes/W32000
606   $aManagement$3https://scigraph.springernature.com/ontologies/product-market-codes/515000
615  0$aFinance.
615  0$aMacroeconomics.
615  0$aManagement.
615 14$aFinance, general.
615 24$aMacroeconomics/Monetary Economics//Financial Economics.
615 24$aManagement.
676   $a330
676   $a332
676   $a650
676   $a657.8333
700   $aUnger$b Albina$4aut$4http://id.loc.gov/vocabulary/relators/aut$01061703
906   $aBOOK
912   $a9910298508203321
996   $aThe Use of Risk Budgets in Portfolio Optimization$92519750
997   $aUNINA