Data update: The Global Multi-Asset Market Portfolio, 1959–2012

This dataset contains the annually updated global multi-asset market portfolio of Doeswijk, Lam, and Swinkels (2014). The latest update contains data until 31 December 2023.The market portfolio contains important information for purposes of strategic asset allocation. One could consider it a natural benchmark for investors. The authors composed the invested global multi-asset market portfolio for 1990–2012 by estimating the market capitalization for equities, private equity, real estate, high-yield bonds, emerging-market debt, investment-grade credits, government bonds, and inflation-linked bonds. They also used an expanded period (1959–2012) for the main asset categories: equities, real estate, nongovernment bonds, and government bonds.<br>

本数据集涵盖Doeswijk、Lam与Swinkels（2014）提出的年度更新版全球多资产市场投资组合（global multi-asset market portfolio），本次最新更新的数据覆盖至2023年12月31日。
该市场投资组合可为战略资产配置（strategic asset allocation）提供核心决策信息，亦可视作投资者的天然业绩基准。
作者团队通过估算股票、私募股权、不动产、高收益债券、新兴市场债务、投资级信贷、政府债券及通胀挂钩债券（inflation-linked bonds）的市值，构建了1990年至2012年的可投资全球多资产市场投资组合。
针对股票、不动产、非政府债券与政府债券这几类核心资产类别，作者团队还将数据覆盖时段扩展至1959年至2012年。