RT Journal Article SR Electronic T1 Advantages of Multiperiod Portfolio Models JF The Journal of Portfolio Management FD Institutional Investor Journals SP 35 OP 45 DO 10.3905/jpm.2003.319871 VO 29 IS 2 A1 John M. Mulvey A1 William R. Pauling A1 Ronald E. Madey YR 2003 UL https://pm-research.com/content/29/2/35.abstract AB A multiperiod portfolio model provides significant advantages over traditional single-period approaches—especially for long-term investors. Such a framework can enhance risk-adjusted performance and help investors evaluate the probability of reaching financial goals by linking asset and liability policies. Multiperiod portfolio models consist of three basic components: a stochastic scenario generator; a policy rule simulator; and an optimization module that identifies non-dominated solutions. Useful applications are in pension planning, insurance risk management, hedge funds, and asset allocation for individual investors.