Abstract

In this chapter, the financial modeler is given the task to invest a portion of the excess liquidity of Pharma Group and to utilize the techniques of modern portfolio management. The key variables in his portfolio management decisions are the return of the assets and the structure of the corresponding risks. The financial modeler is aware of the fact that the return and risk of individual assets is determined in the financial markets, but that portfolio management, via the concrete combination of the assets, determines the return and risk attributes of the individual portfolio.

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