to which value has been added through active management. Finally, the effectiveness of the investor's overall asset allocation can be compared with that of one or more benchmark asset mixes. An ...

Merton, Robert C. "A Dynamic General Equilibrium Model of the Asset Market and Its Application to the Pricing of the Capital Structure of the Firm." Sloan School of Management Working Paper, No.

Western Asset Interm Maturity NY Muni Fd earns an Average Process Pillar rating. The leading factor in the rating is the experience of the management ... of multiaffiliate model that Franklin ...