Determinants of Portfolio Performance

@article{Brinson1986DeterminantsOP,
  title={Determinants of Portfolio Performance},
  author={Gary P. Brinson and L. Hood and G. L. Beebower},
  journal={Financial Analysts Journal},
  year={1986},
  volume={42},
  pages={133-138}
}
  • Gary P. Brinson, L. Hood, G. L. Beebower
  • Published 1986
  • Economics
  • Financial Analysts Journal
  • In order to delineate investment responsibility and measure performance contribution, pension plan sponsors and investment managers need a clear and relevant method of attributing returns to those activities that compose the investment management process—investment policy, market timing, and security selection. The authors provide a simple framework based on a passive, benchmark portfolio representing the plan's long-term asset classes, weighted by their long-term allocations. Returns on this… CONTINUE READING