Windjam

I think of a completeness fund as one way of implementing your satellite portfolio. Your satellite portfolio is a portfolio of active managers with varying active exposures. Because you have several active exposures, you have misfit risk. The completeness fund adds various exposures in order to have your satellite portfolio match the risk exposures of your benchmark.



Edited 2 time(s). Last edit at Thursday, June 2, 2011 at 08:34AM by LobsterBoy.