Allocation stratégique des actifs et gestion de l'investissement à long terme par les investisseurs institutionnels

Éric Bouyé

Revue d'économie financière, 2012, vol. N° 108, issue 4, 117-132

Abstract: The strategic asset allocation is a key pillar for the long-term investors who face the necessity to reconcile the long-term risk-return objectives and the need for short-term protection. This article explains why the long-term investors have to go beyond the standard asset management framework of fixed weights allocation. Rooted in the financial theory, dynamic asset allocation appears to be a very relevant investment solution. The different types of dynamic strategies are presented and the concept of diagram payoff is introduced as a powerful tool to reveal investor?s preferences. We also illustrate the role of accounting rules and the setup of a proper governance to reach the long term objectives. Classification JEL: G11, G23.

JEL-codes: G11 G23 (search for similar items in EconPapers)
Date: 2012
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