Global Tactical Asset Allocation
Develop a financial portfolio
Master the different approaches and designs
Understand the dimension of the active tactical asset allocation
Analyse the various methods of tactical asset allocation
Definition
- Various approaches and concepts
The principles
- Performance hierarchy
- Volatility
- Diversification
Forecasts
- Non financial assets : real estate, commodities, art
- Macro economical : cycles, growth, yieldcurve
- Micro economical : dividend discount model, sector rotation
- Others : volatility, portfolio insurance
Case Study: Excel workshop
The main methods
- Theory
- Core-satellite
- Markowitz
- Black-Litterman
The implementation
- Specific and global constraints
- Committee decision process
- Tactical revisions
- Selection of underlying products
- Result measurement
Case Study: Excel workshop
Definition
- Various approaches and concepts
The principles
- Performance hierarchy
- Volatility
- Diversification
Forecasts
- Non financial assets : real estate, commodities, art
- Macro economical : cycles, growth, yieldcurve
- Micro economical : dividend discount model, sector rotation
- Others : volatility, portfolio insurance
Case Study: Excel workshop
The main methods
- Theory
- Core-satellite
- Markowitz
- Black-Litterman
The implementation
- Specific and global constraints
- Committee decision process
- Tactical revisions
- Selection of underlying products
- Result measurement
Case Study: Excel workshop
Pierre Hervé

Peter is the President of Advanced Fund Analysis since 2002 and Executive Vice President in charge of Asset Management of Wealth-Heritage since 2010. Previously he was CEO of AXA Multimanager, structure he created in 1999. He teaches in the Masters Asset Management at the University Paris-Dauphine and the University of Poitiers. He has also published two books with Economica on "asset allocation" and "multi-management".
Pierre Hervé also teaches :
- Fund Selection (Catalogue English)
- Global Strategic Asset Allocation (Catalogue English)
- L’allocation d’actifs stratégique (Catalogue Marchés financiers)
- L’allocation d’actifs tactique (Catalogue Marchés financiers)
- Multigestion : l’analyse et la sélection de fonds (Catalogue Marchés financiers)