Fees Eat Diversification's Lunch

Diversification is often spoken of as the only free lunch in investing, yet we show that it is not free and is properly considered only in light of its costs. More-exotic asset classes typically come with a higher price tag. We show that fees on diversifying asset classes are high relative to their risk-adjusted diversification benefit. Because there is meaningful cross-sectional variation, fees need to be part of asset mix decisions and strategic asset allocation

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Year of publication:	2016
Authors:	Jennings, William W.
Other Persons:	Payne, Brian (contributor)
Publisher:	[2016]: [S.l.] : SSRN
Subject:	Diversifikation \| Diversification \| Gebühr \| Charges \| Ernährungsverhalten \| Eating habit \| Portfolio-Management \| Portfolio selection

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Extent:	1 Online-Ressource (16 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Financial Analysts Journal, Volume 72, Issue 2, March/April 2016, pages 31-40 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 30, 2015 erstellt
Other identifiers:	10.2139/ssrn.2543031 [DOI]
Classification:	G11 - Portfolio Choice ; G23 - Pension Funds; Other Private Financial Institutions ; I22 - Educational Finance ; L30 - Nonprofit Organizations and Public Enterprise. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013005506