PANTHERA SOLUTIONS RELEASES RESEARCH ON THE GLOBAL CAPITAL STOCK
In 1964, William Sharpe postulated that the market portfolio was the natural starting point in portfolio construction. More than 50 years later an after two years of research, we can present the first comprehensive measure of the Global Capital Stock for investors, acting as an academically sounds proxy for the global market portfolio. Our Working Paper is released today.
Multi-Asset strategies became increasingly popular. In Europe alone, more than 14.000 Multi-Asset funds are offered (UCITS and AIF, source EFAMA). Evaluating their asset allocation quality with traditional risk measures has proven to be insufficient. The Global Capital Stock offers the very first representative natural benchmark for Multi-Asset strategies. Applicable for the buy-side in its product selection/due-diligence, and also by the sell-side in its risk management. We are currently working on applicable tools based on the Global Capital Stock – a development along the knowledge frontier in asset allocation.
Did you know that the aggregate of all listed companies worldwide only represents 13% of the Global Capital Stock?Download our Working Paper and explore further insights: