Drobetz, Wolfgang; Köhler, Friederike - Wirtschaftswissenschaftliches Zentrum <Basel> - 2002
It is well known that asset allocation policy is the major determinant of fundperformance. However, there is substantial disagreement about the exactmagnitude of the contribution of asset allocation. Following the approach inIbbotson and Kaplan (2000), we use German and Swiss balanced mutualfund...