The focus of the course, led by two renowned experts, is to to serve as an in-depth introduction to a fast developing field focusing on helping investors achieve their desired outcomes with a multi-asset approach, combining asset allocation, manager selection and dynamic portfolio management techniques.The course will be conducted by Professor James J. Choi, from Yale School of Management and Professor Nikolaos Tessaromatis from EDHEC Business School.
The first day of the seminar will survey the evidence on return predictability that is relevant for investors engaging in tactical asset allocation. The seminar will begin with a discussion about the predictability of broad asset class returns, particularly equity and fixed income market returns. It will include a discussion about predictability of returns of sectors and styles within the equity market. Finally, should one choose to implement one’s asset allocation strategy using active mutual fund managers, the first day of the seminar will present the methodologies used for identifying the managers who are most likely to outperform in the future. The second day of the seminar will dig further into how to use this reported evidence of predictability in asset, style and factor returns to build a process that can be used to perform active asset allocation decisions. It will discuss the models, techniques and applications of tactical asset allocation strategies, but also the practical implementation challenges associated with this process.