Investment of Social Security Funds - Guideline 12. Dynamic investing
As asset market values change over time, the investing institution is able to exploit variations in market valuations by investing differently than in the strategic asset allocation, while respecting the risk budget established in Guideline 7.
This process of dynamic investment (sometimes referred to as tactical investment) will be limited in time but the maintenance of such a position apart from the strategic asset allocation may subsist in the medium term.
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