3. Electronic Theses and Dissertations (ETDs) - All submissions
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Item Fusion investing: an esoteric approach to portfolio formation(2012-07-03) Seetharam, YudhvirThis study contributes to the debate on active and passive portfolio management by providing an alternate means of constructing an active portfolio. This “fusion strategy” has underpinnings in the realm of behavioural finance, namely the value-growth phenomenon and the momentum effect. The fusion strategy developed in this study was compared against two passive benchmarks and four active benchmarks. All returns are calculated net of transaction costs, initially set to 1% per month per share. Statistical testing, done via stochastic dominance, yielded inconclusive results in the majority of cases. The exception however, was that Fund B stochastically dominated the fusion strategy at second order. This implies that a risk-averse investor would prefer to invest in Fund B. By the use of Sharpe and Treynor ratios, the results were also inconclusive. However, the Sortino ratio shows that the fusion strategy outperforms all benchmarks chosen, except Fund A. The performance of the fusion strategy was also not induced by either a sector rotation strategy, the existence of the January effect or by the level of transaction costs.Item IT Portfolio Management: Barriers to Adoption and Strategies for Overcoming Them.(2007-02-15T13:41:33Z) Enoch, Clive N.As organisations continuously attempt to do more with less, Chief Information Officers (CIOs) must manage their portfolio of IT investments more effectively and efficiently. In order to achieve this, CIOs can adopt a portfolio management approach; however, there are barriers to the adoption to IT portfolio management. The purpose of this research was to explore the barriers to adoption of IT portfolio management. The barriers were identified by respondents from various sectors and across various levels in their organisations and then ranked in order to determine the most critical factors that impede adoption of IT portfolio management. Data was collected using the Delphi ranking type method, and targeted at CIOs, IT executives, and project managers. The questionnaire was designed to identify perceptions of the most significant barriers to IT portfolio management adoption and strategies for mitigating the effects of these barriers were drawn from the literature. The rank order of 11 barriers was determined from the individual ratings and rank orders of 38 respondents in the final phase with ‘the lack of executive sponsorship, support, and understanding of IT portfolio management’ being ranked as the most critical barrier.