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Lower Bounds on Portfolio Performance: An Extension of the Immunization Strategy
Published online by Cambridge University Press: 06 April 2009
Extract
The concept of immunization is currently one of the most widely discussed innovations in bond portfolio management. The interest in immunization, which allows one to nearly guarantee a minimum return performance over a specified investment horizon, is due in large measure to the desire on the part of bond managers to reduce the risk which has accompanied the recent swings in interest rates.
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- Copyright © School of Business Administration, University of Washington 1982
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