TY - JOUR T1 - Advantages of Multiperiod Portfolio Models JF - The Journal of Portfolio Management SP - 35 LP - 45 DO - 10.3905/jpm.2003.319871 VL - 29 IS - 2 AU - John M. Mulvey AU - William R. Pauling AU - Ronald E. Madey Y1 - 2003/01/31 UR - https://pm-research.com/content/29/2/35.abstract N2 - A multiperiod portfolio model provides significant advantages over traditional single-period approaches—especially for long-term investors. Such a framework can enhance risk-adjusted performance and help investors evaluate the probability of reaching financial goals by linking asset and liability policies. Multiperiod portfolio models consist of three basic components: a stochastic scenario generator; a policy rule simulator; and an optimization module that identifies non-dominated solutions. Useful applications are in pension planning, insurance risk management, hedge funds, and asset allocation for individual investors. ER -