$31.9 billion in cumulative net investment gains above the Reference Portfolio over the last 10 years. One-year net return of 12.6% and outperformance of the Reference Portfolio, demonstrating the ...

Australia's Future Fund, a pioneer of the total portfolio approach to managing institutional portfolios, doesn't rely on the reference portfolios or asset class targets that some other proponents use ...

Despite decades of predictions to the contrary, the boring old 60/40 portfolio of stocks and bonds refuses to die and even survives as a reference portfolio for many institutional investors. The ...

Black and Litterman recommend that portfolio optimization start with a reference portfolio (eg, a performance benchmark) and inferring the returns forecast that makes this portfolio optimal. Personal ...