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dc.contributor.advisorGaivoronski, Alexei A.
dc.contributor.authorVukovic, Ana
dc.contributor.authorBjerknes, Line
dc.date.accessioned2017-12-23T15:00:29Z
dc.date.available2017-12-23T15:00:29Z
dc.date.created2017-06-23
dc.date.issued2017
dc.identifierntnudaim:17822
dc.identifier.urihttp://hdl.handle.net/11250/2473732
dc.description.abstractIn this paper we investigate the predominant robo-advisor model, uncovering that however novel this solution might be, it also relies religiously on imperative contributions to modern portfolio theory that have been made in the past half a century. Despite conforming by and large to passive investment, we find that the slight variations in the methodologies used by robo-advisors introduce significant variability in risk-adjusted returns across the robo-advisor spectrum. Nonetheless, our performance estimations show that three out of the four robo-advisors considered in this paper produce higher risk-adjusted return than the benchmark. In testing the robo-advisor model on the Norwegian market, we also find that a robo-advisor strategy based on a multifactor approach, outperforms the benchmark for the investment horizons considered.
dc.languageeng
dc.publisherNTNU
dc.subjectIndustriell økonomi og teknologiledelse
dc.titleAutomated Advice: A Portfolio Management Perspective on Robo-Advisors
dc.typeMaster thesis


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