Private wealth management is the investment management specialization focused on high-
net-worth individuals and families. Portfolio design and investment solutions in private …

The authors focus on the impact of taxes on equity management styles, more specifically on
the degree of portfolio management activity. They introduce the concept of active …

The authors examine the tax-aware investment practices of investment managers managing
taxable accounts. Their sample of mostly well-experienced CFA charter holders exhibits a …

Abstract Models developed in a pretax framework do not necessarily apply in an after-tax
framework, and this notion certainly applies to portfolio optimization. This article derives …

This article shows that extended mandates are especially effective for investors subject to
taxes. Not only is the portfolio more efficiently positioned from a before-tax perspective, but it …

Measuring portfolio performance on an after-tax basis is a challenging matter. Whether one
uses simple or complex models, one implicitly or explicitly makes certain assumptions about …

Copyright 2005 Institutional Investor, Inc. actively harvesting losses within the portfolio that
can be used to offset gains elsewhere in the portfolio). As an alternative, Farr [2004] …

After-tax performance reporting is critical for taxable investors but is unfortunately often
overlooked due, in part, to its complexity and lack of offerings in the space. Instead, most …

This paper adds to the growing literature on after-tax asset valuation and asset allocation by
developing a model to value annuities on an after-tax basis. Qualified and non-qualified …

Abstract Horan and Robinson (2008) and 1 agree on several issues including how to
calculate the after-tax value of assets held in tax-deferred accounts like a 401 (k) and tax …