PT  - JOURNAL ARTICLE
AU  - Tony Berrada
AU  - Olivier Scaillet
AU  - Zhicheng Zhang
TI  - Asset Allocation Implications of Illiquid Assets
AID  - 10.3905/joi.2022.1.229
DP  - 2022 Apr 15
TA  - The Journal of Investing
PG  - joi.2022.1.229
4099  - https://pm-research.com/content/early/2022/04/15/joi.2022.1.229.short
4100  - https://pm-research.com/content/early/2022/04/15/joi.2022.1.229.full
AB  - In the wake of the global financial crisis, with low returns on traditional fixed income instruments, institutional investors seek alternative investment vehicles with similar characteristics. Illiquid assets, such as infrastructure and real estate, have become an increasingly important share of their investments. In this article, we study the performance impact in terms of diversification and return of introducing illiquid assets in an otherwise standard allocation.