Optimization of a portfolio involves the efficient allocation of assets given a specific goal and its application to a portfolio will improve performance to some degree. Combining alpha calculation and analysis with optimization may enhance this improved portfolio performance. Thus, it can be...

There have been many theories developed to explain the discount that existed for closed end funds. But few valuation models for closed end funds were ever developed. In this paper, a valuation model for closed-end fund is derived using the CAPM, which may be considered a breakthrough in the...