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2 It involves changing existing mix of securities. This
can be done by changing the securities currently
included in portfolio or by
altering the proportion of funds invested in
securities.
2 Transaction Cost
2 Taxes
2 Statutory Stipulation
2 Intrinsic Difficulty
p
2 Investment funds
i). ggressive (Equity shares)
ii). Conservative or defensive (bonds &
debentures).
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6
p
6 0 0 º 00 8000 0 00
0 0 º0000 º0 00 0 00
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2
0
p
2 Trading fees
2 Market impact
2 Management time
2 Tax implications
2 Window dressing
º
×
ñ
2 Commissions
2 Transfer taxes
º
Ñ
×
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×
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ü 4/
2 ü
refers to cosmetic
changes made to a portfolio near the
end of a reporting period
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