By Dr Brian Moretta, Head of Tax Enhanced Services at Hardman & Co
Why investors are underweight EIS and VCT's
Executive summary
Investigating asset allocation
In this white paper, we investigate the effect of adding venture capital to equity/bond portfolios for retail investors. We show that it makes a compelling addition, significantly improving investors’ risk/return profiles.
Methodology
We adopt the widely used mean/variance optimisation developed in the 1950s by Markowitz. We introduce assumptions using a mixture of market data and established research for equities,
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