투자성향별 자산 배분행태에 관한 연구 - 은행 PB고객을 중심으로 -
A Study on the Form of Asset Allocation by Investment Taste - Focused on private bank customer -
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The meaning of investment and asset allocation for individuals has gradually changed since two harsh periods such as the Korean exchange crisis in 1997 and the global financial crisis in 2008. We realized that because the market moved more rapidly and acutely, it became more difficult to forecast the direction for its movement. Nevertheless, investors may make a wrong choice to get away from their investment tastes and the large framework of their planned asset allocation when they decide to make an investment in some cases. This study aims to analyze and diagnose the situation of individuals' asset allocation and to present a direction of better asset management through the analysis of investors' investment tastes, the basics of systematic asset management, and the comparison of its performance in the period of a paradigm change in asset management. Our results are as follows: First, investors prefer to invest in land or commercial property to residential property due to rental income. Second, investors pursue to operate various financial assets through forming efficient portfolios. Finally, when it is assumed that instant cash is given to investors, 43.3% of investors are willing to invest in financial assets and if real estate is another investment option, it is due to both capital gains and rental income.
Abstract
The meaning of investment and asset allocation for individuals has gradually changed since two harsh periods such as the Korean exchange crisis in 1997 and the global financial crisis in 2008. We realized that because the market moved more rapidly and acutely, it became more difficult to forecast the direction for its movement. Nevertheless, investors may make a wrong choice to get away from their investment tastes and the large framework of their planned asset allocation when they decide to make an investment in some cases. This study aims to analyze and diagnose the situation of individuals' asset allocation and to present a direction of better asset management through the analysis of investors' investment tastes, the basics of systematic asset management, and the comparison of its performance in the period of a paradigm change in asset management. Our results are as follows: First, investors prefer to invest in land or commercial property to residential property due to rental income. Second, investors pursue to operate various financial assets through forming efficient portfolios. Finally, when it is assumed that instant cash is given to investors, 43.3% of investors are willing to invest in financial assets and if real estate is another investment option, it is due to both capital gains and rental income.
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