Elton, E.J., Gruber, M.J. and Padberg, M.W. Simple criteria for optimal portfolio selection.--Rudd, A. and Rosenberg, B. Realistic portfolio optimization.--Bawa, V.S. and Chakrin, L.M. Optimal portfolio choice and equilibrium in a lognormal securities market.--Levy, H. Does diversification...

Managers of Fund of Funds have access to information not available to the general public in evaluating funds from their own family. However, they may have family or self‐serving motives that can hurt shareholder performance. By examining a history of individual transactions of Funds of Funds,...