PT - JOURNAL ARTICLE AU - José R. Aragonés AU - Carlos Blanco AU - Juan Mascareñas TI - Active Management of Equity Investment Portfolios AID - 10.3905/jpm.2001.319800 DP - 2001 Apr 30 TA - The Journal of Portfolio Management PG - 39--46 VI - 27 IP - 3 4099 - https://pm-research.com/content/27/3/39.short 4100 - https://pm-research.com/content/27/3/39.full AB - The main purpose of this article is to show how the VaR methodology can be effectively applied for risk measurement and management of equity portfolios, introducing a sector approach in the analysis. The risk aggregation problem of equity portfolios is addressed by grouping individual positions in the corresponding industry sectors as a first step toward an effective risk management tool to measure the tracking error against a benchmark index.