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The Short-Term Treasury Portfolio (PRTBX) was founded in 1987. [2] A stock fund called Aggressive Growth Portfolio (PAGRX) was opened in 1990 [2] and Michael Cuggino was hired to manage it. [3] In 1991, the company added the Versatile Bond Portfolio (PRVBX) which invests 80% or more of its net assets in bonds. [2]
"Investors looking for growth would be wise to have part of their portfolio in equities," says Michael Cuggino, President and Portfolio Manager of Permanent Portfolio Family of Funds (FUND: PRPFX ...
According to the book this is because some portion of the portfolio will perform favorably during each of those economic cycles. The book calls this type of investment portfolio, a "permanent portfolio" and advocates it be re-balanced once per year so that the 25% allocation is precisely maintained for each asset class. [1]
Mutual Fund Report for PRPFX. For premium support please call: 800-290-4726 more ways to reach us
The rate of return on a portfolio can be calculated indirectly as the weighted average rate of return on the various assets within the portfolio. [3] The weights are proportional to the value of the assets within the portfolio, to take into account what portion of the portfolio each individual return represents in calculating the contribution of that asset to the return on the portfolio.
If the investor's utility function is the risk averse log utility function of final wealth , = , then decisions are intertemporally separate. [1] Let initial wealth (the amount that is investable in the initial period) be and let the stochastic portfolio return in any period (the imperfectly predictable amount that the average dollar in the portfolio grows or shrinks to in a given period t ...
Merton's portfolio problem is a problem in continuous-time finance and in particular intertemporal portfolio choice. An investor must choose how much to consume and must allocate their wealth between stocks and a risk-free asset so as to maximize expected utility .
Modern portfolio theory (MPT), or mean-variance analysis, is a mathematical framework for assembling a portfolio of assets such that the expected return is maximized for a given level of risk. It is a formalization and extension of diversification in investing, the idea that owning different kinds of financial assets is less risky than owning ...