This paper puts forward an alternative approach to multiplicative models and their assessment of returns out of financial assets. Firstly, it lays down an operative definition but also sets forth a commutative framework of mappings to provide foundations to such a definition. Next, the total...

Expanded separation portfolios ( Se ) and Treasurer’s portfolios T( Se ) are a sect of themselves. They arise out of risk-free assets and risky portfolios like other mutual funds. But their distinctive features set them apart from the common lot. This paper puts forth, firstly, a down-to-earth...

This research paper sets forth that an alternative for managing the internal investment fund of any company, lies on separation portfolios. Firstly, the company's internal investment portfolio is built up within the context of the incremental cash-flow model. Next, separation portfolios are...