Brown Advisory

AUGUST 14, 2023

For as much as we are cognisant of factor risks, the backward-looking nature of these models – and unpredictable embedded covariance matrices – means we are careful to not over-interpret the results. Both “risks” faded in the models quickly; the events had already happened. The future is rarely the same as the past.

Investing 52

Investing Investments Portfolio Accounting 52

Brown Advisory

MARCH 28, 2019

DEFINING RISK When it comes to managing institutional portfolios, most CIOs, committees and advisors adopt one of two philosophical approaches. The first approach is to determine an acceptable level of risk—often termed a “risk budget”—and then seek to maximize potential return within that risk constraint.

Asset Allocation 52

Asset Allocation Portfolio Assets Clients 52

Brown Advisory

MARCH 28, 2019

The first approach is to determine an acceptable level of risk—often termed a “risk budget”—and then seek to maximize potential return within that risk constraint. Alternately, they can determine a target or required rate of return, and then adjust risk up or down to meet that return goal.

Asset Allocation 52

Asset Allocation Portfolio Assets Clients 52