The Better-of-Two Strategy for Active versus Passive Management: The Option Value of Active through Time
Steve Fox and P. Brett Hammond
The Journal of Portfolio Management February 2022, jpm.2021.1.314; DOI: https://doi.org/10.3905/jpm.2021.1.314
Steve Fox
is vice president and senior client analytics manager in the Client Analytics Group of the Capital Group of American Funds Distributors, Inc. in Los Angeles, CA
P. Brett Hammond
is research leader in the Client Analytics Group of the Capital Group of American Funds Distributors, Inc. in Los Angeles, CA
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In this issue
The Journal of Portfolio Management
Vol. 49, Issue 4
Multi-Asset Special Issue 2023
The Better-of-Two Strategy for Active versus Passive Management: The Option Value of Active through Time
Steve Fox, P. Brett Hammond
The Journal of Portfolio Management Dec 2021, jpm.2021.1.314; DOI: 10.3905/jpm.2021.1.314
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- Article
- Abstract
- MOVING PAST THE ACTIVE-PASSIVE DEBATE
- THE BETTER-OF-TWO
- REPLICATING THE BETTER OF TWO OPTIONS
- BASIC PRINCIPLES OF THE BETTER-OF-TWO OPTION
- PUTTING THE BETTER-OF-TWO TO WORK
- OPTION REPLICATION PORTFOLIOS USING EQUITY MUTUAL FUNDS
- PRACTICAL IMPLICATIONS AND EXTENSIONS
- APPENDIX A
- APPENDIX B
- APPENDIX C
- ENDNOTES
- REFERENCES
- Info & Metrics
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