This paper extends our previous work on Asia, adding a separate analysis of Chinese domestic stocks. We looked across 2,300 stocks in China (a subset of our prior universe of 13,000 stocks across Asia) over 10 years and randomly selected stocks for inclusion in equally weighted portfolios that...

This paper looks across 13,000 stocks in Asia excluding Japan over 10 years to determine the optimum number an active manager should hold to reduce unsystematic risk. We randomly select stocks for inclusion in equally weighted portfolios that are held for one year and then are reselected based...