PT - JOURNAL ARTICLE AU - Richard C. Grinold AU - Richard A. Meese TI - Strategic Asset Allocation and International Investing AID - 10.3905/jpm.2000.319783 DP - 2000 Oct 31 TA - The Journal of Portfolio Management PG - 53--60 VI - 27 IP - 1 4099 - https://pm-research.com/content/27/1/53.short 4100 - https://pm-research.com/content/27/1/53.full AB - Strategic asset allocation studies often deal with international assets on an unhedged basis. The potential hedging of international investments is either not considered at all or is left as a secondary decision after the overall commitment to international assets is established. The authors argue that this practice introduces a systematic and substantial bias against international investing and the use of hedging to reduce currency risk.