DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in ransferable securities (UCITS) as re ...

Overall, our proposed framework is quite general and is applicable to investment decisions in real time. For one, moments used to form optimal portfolios obey closed-form expressions. This facilitates the implementation of formal trading strategies across a large universe of mutual funds. In addition, our strategies employ long-only positions in mutual funds, which implies long-only positions in the underlying stocks (since almost no mutual funds short-sell stocks)—thus, our models derive performance from strategies that could potentially be implemented by investing in mutual funds or in their underlying stock choices....
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DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in ransferable securities (UCITS) as regards depositary functions, remuneration policies and sanctions