This paper investigates the diversification prospects which may be reaped when investing in a mixture of emerging and … diversification potential and therefore risk reduction. Yet, the latter may be counterbalanced by the fact that emerging markets … that emerging markets have offered diversification potential. However we also find evidence of features which make it more …

before performance deteriorates. Indeed, we find that sponsors benefit from alpha diversification when employing multiple … diversification that results through an improved Sharpe ratio. Overall, our results indicate that pension fund sponsors, at least on …