1. MIP/MB-IPB/08 1 MANAJEMEN INVESTASI DAN PORTOFOLIO Lecture 9: Portfolio Investment Management Process

2. MIP/MB-IPB/08 2 Planning 1.Investor Conditions 2.Market Conditions 3.Investment/Speculative Policies 4.Statement of Investment Policies 5.Strategic Asset Allocation Implementations 1.Internal-External Management 2.Security – Manager Selection 3.Tactical Asset Allocation Monitoring 1.Evaluate Statement of Investment Policy 2.Evaluate Investment Performance Portfolio Investment Process Source: Radcliffe

3. MIP/MB-IPB/08 3 Investor Conditions 1. Financial Status * Marketable & Nonmarketable assets & liabilties * Financial Distress 2. Knowledge 3. Risk Tolerance Investor Policies 1. Strategic Asset Allocation * Current * Passive Rebalancing 2. Speculation Strategy * Tactical Asset Allocation * Security Selection 3. Internal /.External Management Statement of Investment Policy 1.Objective 2.Strategy (policies) 3.Constraints Market Conditions 1. Long-Term Expectations 2. Short-Term Expectations Portfolio Planning Stage Source: Radcliffe

4. MIP/MB-IPB/08 4 Statement of Investment Policy Rebalance Tactical Asset Allocation 1.Asset Classes 2.Sectors / Industries Security and / or Manager Selection Current Market Conditions Portfolio Implementation Stage Source: Radcliffe

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