PT  - JOURNAL ARTICLE
AU  - Will Cazalet
TI  - Loosening the Long-Only Constraint
DP  - 2008 Jun 20
TA  - Special Issues
PG  - 142--147
VI  - 2008
IP  - 1
4099  - https://pm-research.com/content/2008/1/142.short
4100  - https://pm-research.com/content/2008/1/142.full
AB  - Active managers constantly seek ways to add alpha to their portfolios to boost performance. Almost invariably, they do so against a backdrop of constraints imposed upon them by investors and their advisers. These constraints typically include limits on how over-or underweight a manager's portfolio may be in a particular stock, sector, or country, as well as market capitalization or beta neutrality. But one of the most significant constraints imposed on many managers today is that which precludes them from holding short positions in their portfolio; relaxing this constraint, even by a modest amount, can have a significant effect on overall portfolio performance.