Hallerbach, Winfried; Spronk, Jaap; Ning, Ning, H. - Erasmus Research Institute of Management (ERIM), … - 2003
Large institutional investors allocate their funds over a number of classes (e.g. equity, fixed income and real estate), various geographical regions and different industries. In practice, these allocation decisions are usually made in a hierarchical (top-down), consecutive way. At the higher...
