The evidence examined in this article shows that the rate of return on well diversified low
risk portfolios is indeed significantly lower than the return on well diversified higher risk …

Trading costs are probably not as inexpensive as some believe, nor as expensive as others
have suggested. Trading costs are large enough to merit the focused attention of any …

While many equate transaction cost with the trading commission-the explicit fee charged by
a broker to handle the trade-the commission is merely the obvious tip of the execution cost …

Process effectiveness concerns itself with the" factory floor" of investment management. The
goal is to deliver maximum ouput, measured as incremental returns in client portfolios, out of …

How much does it cost to purchase or sell a security'? A study of round lot trading by Demsetz
derived an estimated total transaction cost of 1.3 per cent.'The same figure was derived by …

More and more US cities and states are weighing legislation that would restrict public
pension plans from investing in companies that do business in South Africa. Divestment has …

With increasing frequency, plan sponsors (and their consultants) are expanding the scope
and focus of their oversight activities to include the trading practices of managers. These …

Portfolio insurance creates new and flexible tools giving pension funds the opportunity to
reshape payoffs, thus greatly extending the power of investment management. Understanding …

Recent decades have seen increasing standards of professionalism being applied to buyside
equity securities traders. Traders are upgrading their roles in the investment organization, …

Capital market theory started as a positive theory. It explained how stocks would be priced if
everyone were mean/variance efficient in attitudes toward risk versus return. From the very …