| Autor: |
Dietz, Peter O., Fogler, H. Russell, Hardy, Donald J. |
| Předmět: |
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| Zdroj: |
Journal of Portfolio Management; Spring80, Vol. 6 Issue 3, p55-60, 6p |
| Abstrakt: |
This article discusses the rise of active bond management, the problems involved in analyzing the results of such management and a methodology by which fixed-income portfolio can be more incisively analyzed. The proposed method isolates the impact of changes in the term structure of interest rates on portfolio results, the effect of sector and quality selection on the part of portfolio managers and the impact of that portion of return unrelated to either interest rate shifts or sector quality factors. The basic return equation presented here does imply a built-in risk adjustment. In conclusion, based upon the tests of actual portfolios, the methodology has proven valuable. |
| Databáze: |
Complementary Index |
| Externí odkaz: |
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