Lower Bounds on Portfolio Performance: An Extension of the Immunization Strategy
扩展了债券投资组合中的免疫策略，该策略能在特定投资期内保证最低回报，有助于债券经理应对利率波动风险。
The concept of immunization is currently one of the most widely discussed innovations in bond portfolio management. The interest in immunization, which allows one to nearly guarantee a minimum return performance over a specified investment horizon, is due in large measure to the desire on the part of bond managers to reduce the risk which has accompanied the recent swings in interest rates.