Global Asset Allocation: New Methods and Applications »

HEINZ ZIMMERMANN is a professor of finance at the Universitat Basel, Switzerland, and heads the department of finance at the Wirtschaftswissenschaftliches Zentrum. He also holds the Chair in international corporate finance at the WHU Koblenz, Germany, as a visiting professor. Zimmermann received his doctorate at the Universitat Bern, Switzerland, and became a professor at the Universitat St. Gallen in 1989. He is managing editor of the Journal of Financial Markets and Portfolio Management. He has been awarded with the Latsis Prize (1989), the Award for Financial Innovation (1992), and the Graham and Dodd Award for Excellence in financial writing (1993).

WOLFGANG DROBETZ is an assistant professor of finance at the Universitat Basel, Switzerland. He is also a lecturer of finance at the Universitat St. Gallen, Switzerland, and the Otto Beisheim Graduate School of Management (WHU), Germany. Drobetz was head of research at Vescore Solutions, St. Gallen. He holds a doctorate from the Universitat St. Gallen, a diploma in commerce from the Wirtschaftsuniversitat Wien, Austria, and an MA in economics from the University of Virginia.

PETER OERTMANN is the managing director and CEO of Vescore Solutions, St. Gallen, Switzerland. He is also a lecturer at the Universitat St. Gallen, Switzerland, where he earned his doctorate in 1997. Oertmann holds a diploma in quantitative management from the Universitat Bielefeld, Germany, and a master's in finance from the University of Georgia.

The increase in international investment activity is a natural consequence of the overall globalization of economies as well as the international financial system. The critical question that many, if not all, financial professionals have about this brave new investment world is: How are portfolio diversification strategies affected by the evolving global investment landscape? In Global Asset Allocation: New Methods and Applications, Heinz Zimmermann, Wolfgang Drobetz, and Peter Oertmann answer this and many other critical questions about a global investment environment that consists of more countries, more sectors, more companies, and more financial instruments with each passing day.

Whether you're a portfolio manager or financial analyst, Global Asset Allocation has the information you need to make the decisions you're responsible for. This book takes a close look at the most sophisticated global asset allocation methods and techniques currently available, and provides you with cutting-edge advances in the methods, practice, and implementation of global asset allocation investment strategies.

Global Asset Allocation thoroughly examines a wide range of asset pricing models, discusses international asset allocation, and explores empirical studies of global asset allocation strategies. It also investigates whether emerging stock markets can be seen as integrated parts of the developed worldwide stock markets, and whether global sector diversification strategies produce risk-return patterns different from asset allocation rules defined in terms of national markets. But that's not all. This comprehensive guide also analyzes the performance of strategies exploiting a specific investment style within a global asset allocation pricing framework-by implementing active style rotation strategies. You'll also be introduced to the Black-Litterman model and learn how it can be used to improve global asset allocation decisions.

Filled with in-depth insights and expert advice, this invaluable resource will allow you to use advanced methods for global asset pricing and portfolio decisions in practical, real-world situations. Investment in global financial markets is growing with great speed. Global Asset Allocation will help you keep up.