lerie’s Reviews > A Practitioner's Guide to Asset Allocation > Status Update
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7 essential characteristics of an asset class
1. Stable aggregation
2. Investable
3. Internally homogenous
4. Externally heterogenous
5. Expected utility
- asset shld raise the portfolio’s expected utility ; lower risk or increase returns
6. Selection skill
- not all investors have selection skill; asset class shld be able to facilitate ease in selection
- PE finds are not.
7. Cost affective access
— Dec 26, 2020 09:20AM
1. Stable aggregation
2. Investable
3. Internally homogenous
4. Externally heterogenous
5. Expected utility
- asset shld raise the portfolio’s expected utility ; lower risk or increase returns
6. Selection skill
- not all investors have selection skill; asset class shld be able to facilitate ease in selection
- PE finds are not.
7. Cost affective access
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