Total Portfolio Management

An Introduction to Institutional Investing and Asset Allocation
Erscheinungsjahr 2026
ISBN: 978-3-032-36705-1
Verlag: Palgrave Macmillan

Buch, Englisch, 873 Seiten, Format (B × H): 155 mm x 235 mm

This open access book offers a comprehensive, practice-grounded exploration of how institutional investors can design, implement, and govern portfolios using a truly integrated Total Portfolio Approach (TPA). Synthesizing insights from finance, macroeconomics, risk management, and multi-asset portfolio construction, the book provides a cohesive framework for managing the entire balance sheet as one system rather than a collection of asset-class silos.

Drawing on decades of professional and academic experience, the authors guide readers through the foundations of Total Fund Management (TFM), including total portfolio approach, investment beliefs, governance structures, strategic asset allocation, factor-based investing, and dynamic capital deployment. Detailed chapters examine asset classes, factor models, capital market assumptions, risk analytics, liquidity and balance-sheet management, foreign-exchange hedging, overlays, and benchmarking within an institutional context. The text also integrates quantitative tools—statistics, regressions, and time-series techniques—to support rigorous portfolio design.

Written for practitioners, researchers, and advanced students of institutional investing, portfolio management, and asset allocation, this book connects high-level investment philosophy with day-to-day implementation. It shows how governance, incentives, data, and cross-asset collaboration shape total-fund outcomes, and how TPA can support more resilient, mission-aligned decision-making in a world of regime shifts, illiquidity, and evolving risk premia.

Zielgruppe

Professional/practitioner

Autoren/Hrsg.

Elkamhi, Redouane

Lee, Jacky S. H.

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Anlagen & Wertpapiere
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Finanzsektor & Finanzdienstleistungen: Allgemeines
• Wirtschaftswissenschaften Betriebswirtschaft Management
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen
• Wirtschaftswissenschaften Betriebswirtschaft Bereichsspezifisches Management Management: Immobilien & Anlagen
• Interdisziplinäres Wissenschaften Wissenschaften: Forschung und Information Risikobewertung, Risikotheorie

Inhaltsverzeichnis

Part I – Governance, Philosophy, and Total Fund Management.- Chapter 1: Investing with Purpose: The Total Portfolio Approach.- Chapter 2: Managing the Whole Balance Sheet: Core Practices in Total Fund Management.- Part II – Asset Allocation Methodologies.- Chapter 3: Asset Classes: Foundational Concepts.- Chapter 4: An Overview of Key Considerations in Asset Allocation.- Chapter 5: Factor-based Investing: An Overview.- Chapter 6: Traditional Asset Allocation Methodologies.- Chapter 7: A More Robust Approach to Asset Allocation.- Chapter 8: Factor-based Allocation Methodologies.- Chapter 9: Portfolio Tilting.- Part III – Deep Dives into Selected Total Fund Management Practices.- Chapter 10: Risk Management.- Chapter 11: Active Risk Management.- Chapter 12: Foreign Exchange (FX) Hedging.- Chapter 13: Improving Portfolio Resiliency.- Chapter 14: Balance Sheet Management.- Chapter 15: Rebalancing: Traditional Approaches and Evolving Practices.- Chapter 16: Benchmarking and Delegated Benchmarks: Aligning Measurement, Incentives, and Total-Fund Outcomes.- Part IV – A Quantitative Primer: Statistics, Regressions, and Time Series.- Chapter 17: Quantitative Primer: Statistics, Regression, and Time Series.

Über Autor(innen)

Redouane Elkamhi is Professor of Finance at the Rotman School of Management, University of Toronto. His research spans investments, asset pricing, and institutional finance. He has published extensively in leading finance journals and received multiple awards for research and teaching. For over two decades, he has advised leading pension plans and asset managers on investment strategy, governance, and total fund management.

Jacky S.H. Lee is Senior Managing Director and Head of the Total Portfolio Group at the Healthcare of Ontario Pension Plan (HOOPP). He leads the design and implementation of HOOPP’s Total Portfolio Approach, integrating investment strategy, portfolio allocation, balance-sheet management, multi-asset analytics, and investment governance. With extensive experience at both HOOPP and Ontario Teachers’ Pension Plan, he has published on total-fund investing and serves on editorial and industry advisory boards in portfolio management and financial data science.