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The Application of the Further Enhanced Permanent Portfolio in the Long Term Investment and Retirement Scheme
Journal of Accounting and Finance
In our previous related research on permanent portfolio (PP), the permanent portfolio was proven to significantly outperform an all-stocks portfolio based on the Hong Kong Hang Seng Index over the last 20 years since 1996. In a further attempt, we try to fine-tune the performance of our enhanced permanent portfolio (further enhanced PP) by varying the proportion of the REITs component. The findings indicated that both the cumulative total return and compounded annual growth rate (CAGR) of thedoi:10.33423/jaf.v19i6.2318 fatcat:z77cm3uzwfck3ieqbtxkzzzazq