id	sid	tid	token	lemma	pos
fsr-3177	1	1	financial	financial	PROPN
fsr-3177	1	2	services	service	NOUN
fsr-3177	1	3	review	review	NOUN
fsr-3177	1	4	,	,	PUNCT
fsr-3177	1	5	31(4	31(4	NUM
fsr-3177	1	6	)	)	PUNCT
fsr-3177	1	7	246	246	NUM
fsr-3177	1	8	profile	profile	NOUN
fsr-3177	1	9	to	to	ADP
fsr-3177	1	10	portfolio	portfolio	NOUN
fsr-3177	1	11	:	:	PUNCT
fsr-3177	1	12	where	where	SCONJ
fsr-3177	1	13	is	be	AUX
fsr-3177	1	14	the	the	DET
fsr-3177	1	15	missing	miss	VERB
fsr-3177	1	16	link	link	NOUN
fsr-3177	1	17	?	?	PUNCT
fsr-3177	2	1	shawn	shawn	PROPN
fsr-3177	2	2	brayman1	brayman1	PROPN
fsr-3177	2	3	,	,	PUNCT
fsr-3177	2	4	nicki	nicki	PROPN
fsr-3177	2	5	potts2	potts2	PROPN
fsr-3177	2	6	,	,	PUNCT
fsr-3177	2	7	kira	kira	PROPN
fsr-3177	2	8	brayman3	brayman3	PROPN
fsr-3177	2	9	,	,	PUNCT
fsr-3177	2	10	and	and	CCONJ
fsr-3177	2	11	yegor	yegor	PROPN
fsr-3177	3	1	komissarov4	komissarov4	PROPN
fsr-3177	4	1	abstract	abstract	ADJ
fsr-3177	4	2	this	this	DET
fsr-3177	4	3	paper	paper	NOUN
fsr-3177	4	4	focuses	focus	VERB
fsr-3177	4	5	on	on	ADP
fsr-3177	4	6	comparing	compare	VERB
fsr-3177	4	7	reproducible	reproducible	ADJ
fsr-3177	4	8	methodologies	methodology	NOUN
fsr-3177	4	9	to	to	PART
fsr-3177	4	10	map	map	VERB
fsr-3177	4	11	an	an	DET
fsr-3177	4	12	investor	investor	NOUN
fsr-3177	4	13	risk	risk	NOUN
fsr-3177	4	14	profile	profile	NOUN
fsr-3177	4	15	into	into	ADP
fsr-3177	4	16	portfolios	portfolio	NOUN
fsr-3177	4	17	,	,	PUNCT
fsr-3177	4	18	products	product	NOUN
fsr-3177	4	19	,	,	PUNCT
fsr-3177	4	20	and	and	CCONJ
fsr-3177	4	21	solutions	solution	NOUN
fsr-3177	4	22	in	in	ADP
fsr-3177	4	23	a	a	DET
fsr-3177	4	24	suitable	suitable	ADJ
fsr-3177	4	25	manner	manner	NOUN
fsr-3177	4	26	.	.	PUNCT
fsr-3177	5	1	this	this	DET
fsr-3177	5	2	study	study	NOUN
fsr-3177	5	3	is	be	AUX
fsr-3177	5	4	premised	premise	VERB
fsr-3177	5	5	on	on	ADP
fsr-3177	5	6	the	the	DET
fsr-3177	5	7	assumption	assumption	NOUN
fsr-3177	5	8	that	that	SCONJ
fsr-3177	5	9	financial	financial	ADJ
fsr-3177	5	10	advisors	advisor	NOUN
fsr-3177	5	11	have	have	AUX
fsr-3177	5	12	access	access	NOUN
fsr-3177	5	13	to	to	ADP
fsr-3177	5	14	valid	valid	ADJ
fsr-3177	5	15	measures	measure	NOUN
fsr-3177	5	16	of	of	ADP
fsr-3177	5	17	an	an	DET
fsr-3177	5	18	individual	individual	NOUN
fsr-3177	5	19	’s	’s	PART
fsr-3177	5	20	tolerance	tolerance	NOUN
fsr-3177	5	21	to	to	PART
fsr-3177	5	22	take	take	VERB
fsr-3177	5	23	investment	investment	NOUN
fsr-3177	5	24	risk	risk	NOUN
fsr-3177	5	25	or	or	CCONJ
fsr-3177	5	26	aggregate	aggregate	VERB
fsr-3177	5	27	investor	investor	NOUN
fsr-3177	5	28	risk	risk	NOUN
fsr-3177	5	29	profile	profile	NOUN
fsr-3177	5	30	,	,	PUNCT
fsr-3177	5	31	and	and	CCONJ
fsr-3177	5	32	measures	measure	NOUN
fsr-3177	5	33	of	of	ADP
fsr-3177	5	34	the	the	DET
fsr-3177	5	35	riskiness	riskiness	NOUN
fsr-3177	5	36	of	of	ADP
fsr-3177	5	37	products	product	NOUN
fsr-3177	5	38	and	and	CCONJ
fsr-3177	5	39	portfolios	portfolio	NOUN
fsr-3177	5	40	of	of	ADP
fsr-3177	5	41	products	product	NOUN
fsr-3177	5	42	.	.	PUNCT
fsr-3177	6	1	we	we	PRON
fsr-3177	6	2	compared	compare	VERB
fsr-3177	6	3	three	three	NUM
fsr-3177	6	4	methodologies	methodology	NOUN
fsr-3177	6	5	from	from	ADP
fsr-3177	6	6	the	the	DET
fsr-3177	6	7	academic	academic	ADJ
fsr-3177	6	8	literature	literature	NOUN
fsr-3177	6	9	or	or	CCONJ
fsr-3177	6	10	regulators	regulator	NOUN
fsr-3177	6	11	against	against	ADP
fsr-3177	6	12	investment	investment	NOUN
fsr-3177	6	13	alternatives	alternative	NOUN
fsr-3177	6	14	we	we	PRON
fsr-3177	6	15	constructed	construct	VERB
fsr-3177	6	16	.	.	PUNCT
fsr-3177	7	1	the	the	DET
fsr-3177	7	2	alternatives	alternative	NOUN
fsr-3177	7	3	were	be	AUX
fsr-3177	7	4	a	a	DET
fsr-3177	7	5	range	range	NOUN
fsr-3177	7	6	of	of	ADP
fsr-3177	7	7	14	14	NUM
fsr-3177	7	8	efficient	efficient	ADJ
fsr-3177	7	9	portfolios	portfolio	NOUN
fsr-3177	7	10	using	use	VERB
fsr-3177	7	11	long	long	ADJ
fsr-3177	7	12	-	-	PUNCT
fsr-3177	7	13	term	term	NOUN
fsr-3177	7	14	indices	index	NOUN
fsr-3177	7	15	in	in	ADP
fsr-3177	7	16	the	the	DET
fsr-3177	7	17	united	united	PROPN
fsr-3177	7	18	states	states	PROPN
fsr-3177	7	19	,	,	PUNCT
fsr-3177	7	20	canada	canada	PROPN
fsr-3177	7	21	,	,	PUNCT
fsr-3177	7	22	the	the	DET
fsr-3177	7	23	united	united	ADJ
fsr-3177	7	24	kingdom	kingdom	PROPN
fsr-3177	7	25	,	,	PUNCT
fsr-3177	7	26	and	and	CCONJ
fsr-3177	7	27	australia	australia	PROPN
fsr-3177	7	28	.	.	PUNCT
fsr-3177	8	1	seven	seven	NUM
fsr-3177	8	2	were	be	AUX
fsr-3177	8	3	based	base	VERB
fsr-3177	8	4	on	on	ADP
fsr-3177	8	5	an	an	DET
fsr-3177	8	6	equal	equal	ADJ
fsr-3177	8	7	distribution	distribution	NOUN
fsr-3177	8	8	of	of	ADP
fsr-3177	8	9	risk	risk	NOUN
fsr-3177	8	10	(	(	PUNCT
fsr-3177	8	11	i.e.	i.e.	X
fsr-3177	8	12	,	,	PUNCT
fsr-3177	8	13	the	the	DET
fsr-3177	8	14	standard	standard	ADJ
fsr-3177	8	15	deviation	deviation	NOUN
fsr-3177	8	16	increased	increase	VERB
fsr-3177	8	17	equally	equally	ADV
fsr-3177	8	18	between	between	ADP
fsr-3177	8	19	the	the	DET
fsr-3177	8	20	seven	seven	NUM
fsr-3177	8	21	portfolios	portfolio	NOUN
fsr-3177	8	22	)	)	PUNCT
fsr-3177	8	23	,	,	PUNCT
fsr-3177	8	24	and	and	CCONJ
fsr-3177	8	25	seven	seven	NUM
fsr-3177	8	26	portfolios	portfolio	NOUN
fsr-3177	8	27	where	where	SCONJ
fsr-3177	8	28	the	the	DET
fsr-3177	8	29	percentage	percentage	NOUN
fsr-3177	8	30	return	return	NOUN
fsr-3177	8	31	of	of	ADP
fsr-3177	8	32	each	each	DET
fsr-3177	8	33	portfolio	portfolio	NOUN
fsr-3177	8	34	increased	increase	VERB
fsr-3177	8	35	by	by	ADP
fsr-3177	8	36	the	the	DET
fsr-3177	8	37	same	same	ADJ
fsr-3177	8	38	amount	amount	NOUN
fsr-3177	8	39	between	between	ADP
fsr-3177	8	40	each	each	DET
fsr-3177	8	41	portfolio	portfolio	NOUN
fsr-3177	8	42	.	.	PUNCT
fsr-3177	9	1	the	the	DET
fsr-3177	9	2	portfolios	portfolio	NOUN
fsr-3177	9	3	distributed	distribute	VERB
fsr-3177	9	4	by	by	ADP
fsr-3177	9	5	risk	risk	NOUN
fsr-3177	9	6	were	be	AUX
fsr-3177	9	7	discarded	discard	VERB
fsr-3177	9	8	in	in	ADP
fsr-3177	9	9	favour	favour	NOUN
fsr-3177	9	10	of	of	ADP
fsr-3177	9	11	those	those	PRON
fsr-3177	9	12	distributed	distribute	VERB
fsr-3177	9	13	by	by	ADP
fsr-3177	9	14	return	return	NOUN
fsr-3177	9	15	,	,	PUNCT
fsr-3177	9	16	and	and	CCONJ
fsr-3177	9	17	these	these	PRON
fsr-3177	9	18	were	be	AUX
fsr-3177	9	19	then	then	ADV
fsr-3177	9	20	mapped	map	VERB
fsr-3177	9	21	to	to	PART
fsr-3177	9	22	determine	determine	VERB
fsr-3177	9	23	the	the	DET
fsr-3177	9	24	risk	risk	NOUN
fsr-3177	9	25	level	level	NOUN
fsr-3177	9	26	of	of	ADP
fsr-3177	9	27	the	the	DET
fsr-3177	9	28	investor	investor	NOUN
fsr-3177	9	29	they	they	PRON
fsr-3177	9	30	were	be	AUX
fsr-3177	9	31	considered	consider	VERB
fsr-3177	9	32	suitable	suitable	ADJ
fsr-3177	9	33	for	for	ADP
fsr-3177	9	34	based	base	VERB
fsr-3177	9	35	on	on	ADP
fsr-3177	9	36	the	the	DET
fsr-3177	9	37	three	three	NUM
fsr-3177	9	38	methodologies	methodology	NOUN
fsr-3177	9	39	.	.	PUNCT
fsr-3177	10	1	it	it	PRON
fsr-3177	10	2	was	be	AUX
fsr-3177	10	3	determined	determined	ADJ
fsr-3177	10	4	that	that	SCONJ
fsr-3177	10	5	(	(	PUNCT
fsr-3177	10	6	a	a	X
fsr-3177	10	7	)	)	PUNCT
fsr-3177	10	8	behavioural	behavioural	ADJ
fsr-3177	10	9	expectation	expectation	NOUN
fsr-3177	10	10	and	and	CCONJ
fsr-3177	10	11	exposure	exposure	NOUN
fsr-3177	10	12	to	to	ADP
fsr-3177	10	13	equities	equity	NOUN
fsr-3177	10	14	is	be	AUX
fsr-3177	10	15	a	a	DET
fsr-3177	10	16	valid	valid	ADJ
fsr-3177	10	17	heuristic	heuristic	NOUN
fsr-3177	10	18	but	but	CCONJ
fsr-3177	10	19	insufficient	insufficient	ADJ
fsr-3177	10	20	to	to	PART
fsr-3177	10	21	scale	scale	VERB
fsr-3177	10	22	to	to	ADP
fsr-3177	10	23	the	the	DET
fsr-3177	10	24	wide	wide	ADJ
fsr-3177	10	25	variety	variety	NOUN
fsr-3177	10	26	of	of	ADP
fsr-3177	10	27	portfolios	portfolio	NOUN
fsr-3177	10	28	and	and	CCONJ
fsr-3177	10	29	products	product	NOUN
fsr-3177	10	30	,	,	PUNCT
fsr-3177	10	31	use	use	NOUN
fsr-3177	10	32	of	of	ADP
fsr-3177	10	33	leverage	leverage	NOUN
fsr-3177	10	34	,	,	PUNCT
fsr-3177	10	35	and	and	CCONJ
fsr-3177	10	36	other	other	ADJ
fsr-3177	10	37	factors	factor	NOUN
fsr-3177	10	38	in	in	ADP
fsr-3177	10	39	the	the	DET
fsr-3177	10	40	marketplace	marketplace	NOUN
fsr-3177	10	41	;	;	PUNCT
fsr-3177	10	42	(	(	PUNCT
fsr-3177	10	43	b	b	X
fsr-3177	10	44	)	)	PUNCT
fsr-3177	10	45	rolling	rolling	ADJ
fsr-3177	10	46	standard	standard	ADJ
fsr-3177	10	47	deviation	deviation	NOUN
fsr-3177	10	48	measures	measure	NOUN
fsr-3177	10	49	can	can	AUX
fsr-3177	10	50	lead	lead	VERB
fsr-3177	10	51	to	to	ADP
fsr-3177	10	52	significantly	significantly	ADV
fsr-3177	10	53	understated	understate	VERB
fsr-3177	10	54	assessments	assessment	NOUN
fsr-3177	10	55	of	of	ADP
fsr-3177	10	56	risk	risk	NOUN
fsr-3177	10	57	in	in	ADP
fsr-3177	10	58	some	some	DET
fsr-3177	10	59	periods	period	NOUN
fsr-3177	10	60	;	;	PUNCT
fsr-3177	10	61	and	and	CCONJ
fsr-3177	10	62	(	(	PUNCT
fsr-3177	10	63	c	c	X
fsr-3177	10	64	)	)	PUNCT
fsr-3177	10	65	the	the	DET
fsr-3177	10	66	var	var	NOUN
fsr-3177	10	67	calculation	calculation	NOUN
fsr-3177	10	68	is	be	AUX
fsr-3177	10	69	recognized	recognize	VERB
fsr-3177	10	70	in	in	ADP
fsr-3177	10	71	multiple	multiple	ADJ
fsr-3177	10	72	sources	source	NOUN
fsr-3177	10	73	as	as	ADP
fsr-3177	10	74	the	the	DET
fsr-3177	10	75	preferred	preferred	ADJ
fsr-3177	10	76	methodology	methodology	NOUN
fsr-3177	10	77	to	to	PART
fsr-3177	10	78	align	align	VERB
fsr-3177	10	79	investor	investor	NOUN
fsr-3177	10	80	concerns	concern	NOUN
fsr-3177	10	81	of	of	ADP
fsr-3177	10	82	drop	drop	NOUN
fsr-3177	10	83	in	in	ADP
fsr-3177	10	84	the	the	DET
fsr-3177	10	85	value	value	NOUN
fsr-3177	10	86	of	of	ADP
fsr-3177	10	87	their	their	PRON
fsr-3177	10	88	portfolio	portfolio	NOUN
fsr-3177	10	89	to	to	ADP
fsr-3177	10	90	the	the	DET
fsr-3177	10	91	actual	actual	ADJ
fsr-3177	10	92	products	product	NOUN
fsr-3177	10	93	,	,	PUNCT
fsr-3177	10	94	but	but	CCONJ
fsr-3177	10	95	like	like	ADP
fsr-3177	10	96	standard	standard	ADJ
fsr-3177	10	97	deviation	deviation	NOUN
fsr-3177	10	98	,	,	PUNCT
fsr-3177	10	99	it	it	PRON
fsr-3177	10	100	is	be	AUX
fsr-3177	10	101	highly	highly	ADV
fsr-3177	10	102	impacted	impact	VERB
fsr-3177	10	103	by	by	ADP
fsr-3177	10	104	the	the	DET
fsr-3177	10	105	period	period	NOUN
fsr-3177	10	106	utilized	utilize	VERB
fsr-3177	10	107	.	.	PUNCT
fsr-3177	11	1	after	after	ADP
fsr-3177	11	2	altering	alter	VERB
fsr-3177	11	3	two	two	NUM
fsr-3177	11	4	methodologies	methodology	NOUN
fsr-3177	11	5	(	(	PUNCT
fsr-3177	11	6	i.e.	i.e.	X
fsr-3177	11	7	,	,	PUNCT
fsr-3177	11	8	mifid	mifid	ADJ
fsr-3177	11	9	-	-	PUNCT
fsr-3177	11	10	ii	ii	NOUN
fsr-3177	11	11	and	and	CCONJ
fsr-3177	11	12	riskcat	riskcat	NOUN
fsr-3177	11	13	)	)	PUNCT
fsr-3177	11	14	based	base	VERB
fsr-3177	11	15	on	on	ADP
fsr-3177	11	16	altered	altered	ADJ
fsr-3177	11	17	duration	duration	NOUN
fsr-3177	11	18	of	of	ADP
fsr-3177	11	19	data	datum	NOUN
fsr-3177	11	20	and	and	CCONJ
fsr-3177	11	21	scaling	scaling	NOUN
fsr-3177	11	22	,	,	PUNCT
fsr-3177	11	23	respectively	respectively	ADV
fsr-3177	11	24	,	,	PUNCT
fsr-3177	11	25	we	we	PRON
fsr-3177	11	26	found	find	VERB
fsr-3177	11	27	that	that	SCONJ
fsr-3177	11	28	the	the	DET
fsr-3177	11	29	four	four	NUM
fsr-3177	11	30	methodologies	methodology	NOUN
fsr-3177	11	31	tested	test	VERB
fsr-3177	11	32	agreed	agree	VERB
fsr-3177	11	33	with	with	ADP
fsr-3177	11	34	less	less	ADJ
fsr-3177	11	35	than	than	ADP
fsr-3177	11	36	one	one	NUM
fsr-3177	11	37	risk	risk	NOUN
fsr-3177	11	38	band	band	NOUN
fsr-3177	11	39	variance	variance	NOUN
fsr-3177	11	40	and	and	CCONJ
fsr-3177	11	41	an	an	DET
fsr-3177	11	42	average	average	ADJ
fsr-3177	11	43	correlation	correlation	NOUN
fsr-3177	11	44	of	of	ADP
fsr-3177	11	45	0.95	0.95	NUM
fsr-3177	11	46	to	to	PART
fsr-3177	11	47	0.97	0.97	NUM
fsr-3177	11	48	.	.	PUNCT
fsr-3177	12	1	creative	creative	ADJ
fsr-3177	12	2	commons	commons	PROPN
fsr-3177	12	3	license	license	NOUN
fsr-3177	12	4	this	this	DET
fsr-3177	12	5	work	work	NOUN
fsr-3177	12	6	is	be	AUX
fsr-3177	12	7	licensed	license	VERB
fsr-3177	12	8	under	under	ADP
fsr-3177	12	9	a	a	DET
fsr-3177	12	10	creative	creative	ADJ
fsr-3177	12	11	commons	common	NOUN
fsr-3177	12	12	attribution	attribution	NOUN
fsr-3177	12	13	-	-	PUNCT
fsr-3177	12	14	noncommercial	noncommercial	ADJ
fsr-3177	12	15	4.0	4.0	NUM
fsr-3177	12	16	license	license	NOUN
fsr-3177	12	17	recommended	recommend	VERB
fsr-3177	12	18	citation	citation	NOUN
fsr-3177	12	19	brayman	brayman	NOUN
fsr-3177	12	20	,	,	PUNCT
fsr-3177	12	21	s.	s.	PROPN
fsr-3177	12	22	,	,	PUNCT
fsr-3177	12	23	potts	potts	PROPN
fsr-3177	12	24	,	,	PUNCT
fsr-3177	12	25	n.	n.	NOUN
fsr-3177	12	26	,	,	PUNCT
fsr-3177	12	27	brayman	brayman	NOUN
fsr-3177	12	28	,	,	PUNCT
fsr-3177	12	29	k.	k.	PROPN
fsr-3177	12	30	,	,	PUNCT
fsr-3177	12	31	&	&	CCONJ
fsr-3177	12	32	komissarov	komissarov	PROPN
fsr-3177	12	33	,	,	PUNCT
fsr-3177	12	34	y.	y.	PROPN
fsr-3177	12	35	(	(	PUNCT
fsr-3177	12	36	2023	2023	NUM
fsr-3177	12	37	)	)	PUNCT
fsr-3177	12	38	.	.	PUNCT
fsr-3177	13	1	profile	profile	NOUN
fsr-3177	13	2	to	to	ADP
fsr-3177	13	3	portfolio	portfolio	NOUN
fsr-3177	13	4	:	:	PUNCT
fsr-3177	13	5	where	where	SCONJ
fsr-3177	13	6	is	be	AUX
fsr-3177	13	7	the	the	DET
fsr-3177	13	8	missing	miss	VERB
fsr-3177	13	9	link	link	NOUN
fsr-3177	13	10	?	?	PUNCT
fsr-3177	14	1	financial	financial	ADJ
fsr-3177	14	2	services	service	NOUN
fsr-3177	14	3	review	review	NOUN
fsr-3177	14	4	,	,	PUNCT
fsr-3177	14	5	31(4	31(4	NUM
fsr-3177	14	6	)	)	PUNCT
fsr-3177	14	7	,	,	PUNCT
fsr-3177	14	8	246	246	NUM
fsr-3177	14	9	-	-	SYM
fsr-3177	14	10	265	265	NUM
fsr-3177	14	11	.	.	PUNCT
fsr-3177	15	1	introduction	introduction	NOUN
fsr-3177	15	2	suitability	suitability	NOUN
fsr-3177	15	3	issues	issue	NOUN
fsr-3177	15	4	are	be	AUX
fsr-3177	15	5	the	the	DET
fsr-3177	15	6	primary	primary	ADJ
fsr-3177	15	7	area	area	NOUN
fsr-3177	15	8	of	of	ADP
fsr-3177	15	9	complaint	complaint	NOUN
fsr-3177	15	10	by	by	ADP
fsr-3177	15	11	investors	investor	NOUN
fsr-3177	15	12	to	to	ADP
fsr-3177	15	13	regulators	regulator	NOUN
fsr-3177	15	14	or	or	CCONJ
fsr-3177	15	15	1	1	NUM
fsr-3177	15	16	corresponding	correspond	VERB
fsr-3177	15	17	author	author	NOUN
fsr-3177	15	18	(	(	PUNCT
fsr-3177	15	19	shawn.brayman@gmail.com	shawn.brayman@gmail.com	X
fsr-3177	15	20	)	)	PUNCT
fsr-3177	15	21	.	.	PUNCT
fsr-3177	16	1	smb	smb	PROPN
fsr-3177	16	2	research	research	NOUN
fsr-3177	16	3	consulting	consulting	PROPN
fsr-3177	16	4	,	,	PUNCT
fsr-3177	16	5	toronto	toronto	PROPN
fsr-3177	16	6	,	,	PUNCT
fsr-3177	16	7	canada	canada	PROPN
fsr-3177	16	8	2	2	NUM
fsr-3177	16	9	morningstar	morningstar	PROPN
fsr-3177	16	10	,	,	PUNCT
fsr-3177	16	11	sydney	sydney	PROPN
fsr-3177	16	12	,	,	PUNCT
fsr-3177	16	13	australia	australia	PROPN
fsr-3177	16	14	3	3	NUM
fsr-3177	16	15	jisc	jisc	PROPN
fsr-3177	16	16	,	,	PUNCT
fsr-3177	16	17	toronto	toronto	PROPN
fsr-3177	16	18	,	,	PUNCT
fsr-3177	16	19	canada	canada	PROPN
fsr-3177	16	20	4	4	NUM
fsr-3177	16	21	morningstar	morningstar	PROPN
fsr-3177	16	22	,	,	PUNCT
fsr-3177	16	23	toronto	toronto	PROPN
fsr-3177	16	24	,	,	PUNCT
fsr-3177	16	25	canada	canada	PROPN
fsr-3177	16	26	ombudsman	ombudsman	PROPN
fsr-3177	16	27	services	service	NOUN
fsr-3177	16	28	in	in	ADP
fsr-3177	16	29	most	most	ADV
fsr-3177	16	30	developed	develop	VERB
fsr-3177	16	31	markets	market	NOUN
fsr-3177	16	32	(	(	PUNCT
fsr-3177	16	33	brayman	brayman	NOUN
fsr-3177	16	34	et	et	PROPN
fsr-3177	16	35	al	al	PROPN
fsr-3177	16	36	,	,	PUNCT
fsr-3177	16	37	2015	2015	NUM
fsr-3177	16	38	)	)	PUNCT
fsr-3177	16	39	.	.	PUNCT
fsr-3177	17	1	this	this	DET
fsr-3177	17	2	paper	paper	NOUN
fsr-3177	17	3	was	be	AUX
fsr-3177	17	4	conceptualized	conceptualize	VERB
fsr-3177	17	5	to	to	PART
fsr-3177	17	6	gain	gain	VERB
fsr-3177	17	7	a	a	DET
fsr-3177	17	8	better	well	ADJ
fsr-3177	17	9	understanding	understanding	NOUN
fsr-3177	17	10	of	of	ADP
fsr-3177	17	11	why	why	SCONJ
fsr-3177	17	12	there	there	PRON
fsr-3177	17	13	is	be	VERB
fsr-3177	17	14	so	so	ADV
fsr-3177	17	15	much	much	ADJ
fsr-3177	17	16	difficulty	difficulty	NOUN
fsr-3177	17	17	in	in	ADP
fsr-3177	17	18	mapping	map	VERB
fsr-3177	17	19	https://creativecommons.org/licenses/by-nc/4.0/	https://creativecommons.org/licenses/by-nc/4.0/	ADP
fsr-3177	17	20	https://creativecommons.org/licenses/by-nc/4.0/	https://creativecommons.org/licenses/by-nc/4.0/	PROPN
fsr-3177	17	21	brayman	brayman	NOUN
fsr-3177	17	22	et	et	PROPN
fsr-3177	17	23	al	al	PROPN
fsr-3177	17	24	.	.	PROPN
fsr-3177	17	25	247	247	NUM
fsr-3177	17	26	investors	investor	NOUN
fsr-3177	17	27	to	to	ADP
fsr-3177	17	28	suitable	suitable	ADJ
fsr-3177	17	29	products	product	NOUN
fsr-3177	17	30	.	.	PUNCT
fsr-3177	18	1	there	there	PRON
fsr-3177	18	2	are	be	VERB
fsr-3177	18	3	challenges	challenge	NOUN
fsr-3177	18	4	in	in	ADP
fsr-3177	18	5	“	"	PUNCT
fsr-3177	18	6	knowing	know	VERB
fsr-3177	18	7	your	your	PRON
fsr-3177	18	8	client	client	NOUN
fsr-3177	18	9	”	"	PUNCT
fsr-3177	18	10	but	but	CCONJ
fsr-3177	18	11	scientifically	scientifically	ADV
fsr-3177	18	12	validated	validate	VERB
fsr-3177	18	13	tools	tool	NOUN
fsr-3177	18	14	exist	exist	VERB
fsr-3177	18	15	(	(	PUNCT
fsr-3177	18	16	although	although	SCONJ
fsr-3177	18	17	they	they	PRON
fsr-3177	18	18	are	be	AUX
fsr-3177	18	19	not	not	PART
fsr-3177	18	20	always	always	ADV
fsr-3177	18	21	used	use	VERB
fsr-3177	18	22	by	by	ADP
fsr-3177	18	23	the	the	DET
fsr-3177	18	24	advisor	advisor	NOUN
fsr-3177	18	25	marketplace	marketplace	NOUN
fsr-3177	18	26	)	)	PUNCT
fsr-3177	18	27	.	.	PUNCT
fsr-3177	19	1	portfolio	portfolio	NOUN
fsr-3177	19	2	managers	manager	NOUN
fsr-3177	19	3	have	have	VERB
fsr-3177	19	4	a	a	DET
fsr-3177	19	5	wide	wide	ADJ
fsr-3177	19	6	variety	variety	NOUN
fsr-3177	19	7	of	of	ADP
fsr-3177	19	8	analytical	analytical	ADJ
fsr-3177	19	9	tools	tool	NOUN
fsr-3177	19	10	that	that	PRON
fsr-3177	19	11	they	they	PRON
fsr-3177	19	12	can	can	AUX
fsr-3177	19	13	measure	measure	VERB
fsr-3177	19	14	variants	variant	NOUN
fsr-3177	19	15	of	of	ADP
fsr-3177	19	16	the	the	DET
fsr-3177	19	17	risk	risk	NOUN
fsr-3177	19	18	of	of	ADP
fsr-3177	19	19	products	product	NOUN
fsr-3177	19	20	and	and	CCONJ
fsr-3177	19	21	portfolios	portfolio	NOUN
fsr-3177	19	22	,	,	PUNCT
fsr-3177	19	23	even	even	ADV
fsr-3177	19	24	if	if	SCONJ
fsr-3177	19	25	they	they	PRON
fsr-3177	19	26	are	be	AUX
fsr-3177	19	27	difficult	difficult	ADJ
fsr-3177	19	28	to	to	PART
fsr-3177	19	29	explain	explain	VERB
fsr-3177	19	30	to	to	ADP
fsr-3177	19	31	investors	investor	NOUN
fsr-3177	19	32	.	.	PUNCT
fsr-3177	20	1	but	but	CCONJ
fsr-3177	20	2	by	by	ADP
fsr-3177	20	3	what	what	DET
fsr-3177	20	4	mechanism	mechanism	NOUN
fsr-3177	20	5	do	do	AUX
fsr-3177	20	6	many	many	ADJ
fsr-3177	20	7	advisors	advisor	NOUN
fsr-3177	20	8	think	think	VERB
fsr-3177	20	9	an	an	DET
fsr-3177	20	10	“	"	PUNCT
fsr-3177	20	11	average	average	ADJ
fsr-3177	20	12	investor	investor	NOUN
fsr-3177	20	13	”	"	PUNCT
fsr-3177	20	14	should	should	AUX
fsr-3177	20	15	have	have	VERB
fsr-3177	20	16	a	a	DET
fsr-3177	20	17	50	50	NUM
fsr-3177	20	18	%	%	NOUN
fsr-3177	20	19	fixed	fix	VERB
fsr-3177	20	20	income	income	NOUN
fsr-3177	20	21	and	and	CCONJ
fsr-3177	20	22	50	50	NUM
fsr-3177	20	23	%	%	NOUN
fsr-3177	20	24	equity	equity	NOUN
fsr-3177	20	25	portfolio	portfolio	NOUN
fsr-3177	20	26	when	when	SCONJ
fsr-3177	20	27	it	it	PRON
fsr-3177	20	28	is	be	AUX
fsr-3177	20	29	known	know	VERB
fsr-3177	20	30	that	that	SCONJ
fsr-3177	20	31	only	only	ADV
fsr-3177	20	32	61	61	NUM
fsr-3177	20	33	%	%	NOUN
fsr-3177	20	34	of	of	ADP
fsr-3177	20	35	american	american	PROPN
fsr-3177	20	36	’s	’s	PART
fsr-3177	20	37	even	even	ADV
fsr-3177	20	38	own	own	ADJ
fsr-3177	20	39	equities	equity	NOUN
fsr-3177	20	40	?	?	PUNCT
fsr-3177	21	1	in	in	ADP
fsr-3177	21	2	fairness	fairness	NOUN
fsr-3177	21	3	,	,	PUNCT
fsr-3177	21	4	we	we	PRON
fsr-3177	21	5	know	know	VERB
fsr-3177	21	6	that	that	SCONJ
fsr-3177	21	7	there	there	PRON
fsr-3177	21	8	are	be	VERB
fsr-3177	21	9	multiple	multiple	ADJ
fsr-3177	21	10	constraints	constraint	NOUN
fsr-3177	21	11	and	and	CCONJ
fsr-3177	21	12	frameworks	framework	NOUN
fsr-3177	21	13	that	that	PRON
fsr-3177	21	14	advisors	advisor	NOUN
fsr-3177	21	15	must	must	AUX
fsr-3177	21	16	work	work	VERB
fsr-3177	21	17	within	within	ADP
fsr-3177	21	18	and	and	CCONJ
fsr-3177	21	19	there	there	PRON
fsr-3177	21	20	are	be	VERB
fsr-3177	21	21	systemic	systemic	ADJ
fsr-3177	21	22	and	and	CCONJ
fsr-3177	21	23	demographic	demographic	ADJ
fsr-3177	21	24	factors	factor	NOUN
fsr-3177	21	25	at	at	ADP
fsr-3177	21	26	play	play	NOUN
fsr-3177	21	27	.	.	PUNCT
fsr-3177	22	1	income	income	NOUN
fsr-3177	22	2	,	,	PUNCT
fsr-3177	22	3	education	education	NOUN
fsr-3177	22	4	,	,	PUNCT
fsr-3177	22	5	age	age	NOUN
fsr-3177	22	6	,	,	PUNCT
fsr-3177	22	7	marital	marital	ADJ
fsr-3177	22	8	status	status	NOUN
fsr-3177	22	9	,	,	PUNCT
fsr-3177	22	10	and	and	CCONJ
fsr-3177	22	11	race	race	NOUN
fsr-3177	22	12	all	all	PRON
fsr-3177	22	13	have	have	VERB
fsr-3177	22	14	strong	strong	ADJ
fsr-3177	22	15	correlations	correlation	NOUN
fsr-3177	22	16	to	to	ADP
fsr-3177	22	17	whether	whether	SCONJ
fsr-3177	22	18	someone	someone	PRON
fsr-3177	22	19	owns	own	VERB
fsr-3177	22	20	equities	equity	NOUN
fsr-3177	22	21	.	.	PUNCT
fsr-3177	23	1	of	of	ADP
fsr-3177	23	2	households	household	NOUN
fsr-3177	23	3	with	with	ADP
fsr-3177	23	4	under	under	ADP
fsr-3177	23	5	$	$	SYM
fsr-3177	23	6	40,000	40,000	NUM
fsr-3177	23	7	of	of	ADP
fsr-3177	23	8	income	income	NOUN
fsr-3177	23	9	only	only	ADV
fsr-3177	23	10	29	29	NUM
fsr-3177	23	11	%	%	NOUN
fsr-3177	23	12	own	own	ADJ
fsr-3177	23	13	equities	equity	NOUN
fsr-3177	24	1	while	while	SCONJ
fsr-3177	24	2	84	84	NUM
fsr-3177	24	3	%	%	NOUN
fsr-3177	24	4	of	of	ADP
fsr-3177	24	5	americans	americans	PROPN
fsr-3177	24	6	with	with	ADP
fsr-3177	24	7	family	family	NOUN
fsr-3177	24	8	incomes	income	NOUN
fsr-3177	24	9	greater	great	ADJ
fsr-3177	24	10	than	than	ADP
fsr-3177	24	11	$	$	SYM
fsr-3177	24	12	100,000	100,000	NUM
fsr-3177	24	13	own	own	ADJ
fsr-3177	24	14	equities	equity	NOUN
fsr-3177	24	15	.	.	PUNCT
fsr-3177	25	1	lack	lack	NOUN
fsr-3177	25	2	of	of	ADP
fsr-3177	25	3	equities	equity	NOUN
fsr-3177	25	4	is	be	AUX
fsr-3177	25	5	less	less	ADJ
fsr-3177	25	6	about	about	ADP
fsr-3177	25	7	risk	risk	NOUN
fsr-3177	25	8	suitability	suitability	NOUN
fsr-3177	25	9	than	than	ADP
fsr-3177	25	10	fundability	fundability	PROPN
fsr-3177	25	11	.	.	PUNCT
fsr-3177	26	1	based	base	VERB
fsr-3177	26	2	on	on	ADP
fsr-3177	26	3	licencing	licencing	NOUN
fsr-3177	26	4	,	,	PUNCT
fsr-3177	26	5	advisors	advisor	NOUN
fsr-3177	26	6	may	may	AUX
fsr-3177	26	7	be	be	AUX
fsr-3177	26	8	constrained	constrain	VERB
fsr-3177	26	9	to	to	PART
fsr-3177	26	10	measure	measure	VERB
fsr-3177	26	11	investment	investment	NOUN
fsr-3177	26	12	product	product	NOUN
fsr-3177	26	13	risk	risk	NOUN
fsr-3177	26	14	,	,	PUNCT
fsr-3177	26	15	product	product	NOUN
fsr-3177	26	16	by	by	ADP
fsr-3177	26	17	product	product	NOUN
fsr-3177	26	18	whereas	whereas	SCONJ
fsr-3177	26	19	other	other	ADJ
fsr-3177	26	20	investors	investor	NOUN
fsr-3177	26	21	can	can	AUX
fsr-3177	26	22	determine	determine	VERB
fsr-3177	26	23	suitability	suitability	NOUN
fsr-3177	26	24	at	at	ADP
fsr-3177	26	25	a	a	DET
fsr-3177	26	26	portfolio	portfolio	NOUN
fsr-3177	26	27	level	level	NOUN
fsr-3177	26	28	.	.	PUNCT
fsr-3177	27	1	in	in	ADP
fsr-3177	27	2	practice	practice	NOUN
fsr-3177	27	3	this	this	PRON
fsr-3177	27	4	means	mean	VERB
fsr-3177	27	5	a	a	DET
fsr-3177	27	6	balanced	balanced	ADJ
fsr-3177	27	7	mutual	mutual	ADJ
fsr-3177	27	8	fund	fund	NOUN
fsr-3177	27	9	might	might	AUX
fsr-3177	27	10	contain	contain	VERB
fsr-3177	27	11	some	some	DET
fsr-3177	27	12	amount	amount	NOUN
fsr-3177	27	13	of	of	ADP
fsr-3177	27	14	large	large	ADJ
fsr-3177	27	15	cap	cap	NOUN
fsr-3177	27	16	,	,	PUNCT
fsr-3177	27	17	small	small	ADJ
fsr-3177	27	18	cap	cap	NOUN
fsr-3177	27	19	,	,	PUNCT
fsr-3177	27	20	international	international	ADJ
fsr-3177	27	21	and	and	CCONJ
fsr-3177	27	22	emerging	emerge	VERB
fsr-3177	27	23	markets	market	NOUN
fsr-3177	27	24	and	and	CCONJ
fsr-3177	27	25	be	be	AUX
fsr-3177	27	26	deemed	deem	VERB
fsr-3177	27	27	suitable	suitable	ADJ
fsr-3177	27	28	for	for	ADP
fsr-3177	27	29	a	a	DET
fsr-3177	27	30	client	client	NOUN
fsr-3177	27	31	,	,	PUNCT
fsr-3177	27	32	but	but	CCONJ
fsr-3177	27	33	if	if	SCONJ
fsr-3177	27	34	the	the	DET
fsr-3177	27	35	advisor	advisor	NOUN
fsr-3177	27	36	tried	try	VERB
fsr-3177	27	37	to	to	PART
fsr-3177	27	38	create	create	VERB
fsr-3177	27	39	the	the	DET
fsr-3177	27	40	identical	identical	ADJ
fsr-3177	27	41	allocation	allocation	NOUN
fsr-3177	27	42	using	use	VERB
fsr-3177	27	43	separate	separate	ADJ
fsr-3177	27	44	etfs	etfs	NOUN
fsr-3177	27	45	for	for	ADP
fsr-3177	27	46	each	each	DET
fsr-3177	27	47	asset	asset	NOUN
fsr-3177	27	48	class	class	NOUN
fsr-3177	27	49	,	,	PUNCT
fsr-3177	27	50	they	they	PRON
fsr-3177	27	51	might	might	AUX
fsr-3177	27	52	be	be	AUX
fsr-3177	27	53	precluded	preclude	VERB
fsr-3177	27	54	from	from	ADP
fsr-3177	27	55	selling	sell	VERB
fsr-3177	27	56	the	the	DET
fsr-3177	27	57	small	small	ADJ
fsr-3177	27	58	cap	cap	NOUN
fsr-3177	27	59	or	or	CCONJ
fsr-3177	27	60	emerging	emerge	VERB
fsr-3177	27	61	markets	market	NOUN
fsr-3177	27	62	as	as	ADP
fsr-3177	27	63	being	be	AUX
fsr-3177	27	64	unsuitable	unsuitable	ADJ
fsr-3177	27	65	/	/	SYM
fsr-3177	27	66	too	too	ADV
fsr-3177	27	67	risky	risky	ADJ
fsr-3177	27	68	.	.	PUNCT
fsr-3177	28	1	in	in	ADP
fsr-3177	28	2	some	some	DET
fsr-3177	28	3	cases	case	NOUN
fsr-3177	28	4	,	,	PUNCT
fsr-3177	28	5	regulators	regulator	NOUN
fsr-3177	28	6	might	might	AUX
fsr-3177	28	7	allow	allow	VERB
fsr-3177	28	8	measuring	measure	VERB
fsr-3177	28	9	suitability	suitability	NOUN
fsr-3177	28	10	at	at	ADP
fsr-3177	28	11	a	a	DET
fsr-3177	28	12	portfolio	portfolio	NOUN
fsr-3177	28	13	level	level	NOUN
fsr-3177	28	14	if	if	SCONJ
fsr-3177	28	15	the	the	DET
fsr-3177	28	16	advisor	advisor	NOUN
fsr-3177	28	17	/	/	SYM
fsr-3177	28	18	firm	firm	NOUN
fsr-3177	28	19	has	have	VERB
fsr-3177	28	20	the	the	DET
fsr-3177	28	21	technology	technology	NOUN
fsr-3177	28	22	systems	system	NOUN
fsr-3177	28	23	and	and	CCONJ
fsr-3177	28	24	processes	process	NOUN
fsr-3177	28	25	to	to	PART
fsr-3177	28	26	do	do	VERB
fsr-3177	28	27	so	so	ADV
fsr-3177	28	28	–	–	PUNCT
fsr-3177	28	29	which	which	PRON
fsr-3177	28	30	is	be	AUX
fsr-3177	28	31	far	far	ADV
fsr-3177	28	32	more	more	ADV
fsr-3177	28	33	complicated	complicated	ADJ
fsr-3177	28	34	than	than	ADP
fsr-3177	28	35	monitoring	monitor	VERB
fsr-3177	28	36	the	the	DET
fsr-3177	28	37	risk	risk	NOUN
fsr-3177	28	38	of	of	ADP
fsr-3177	28	39	individual	individual	ADJ
fsr-3177	28	40	products	product	NOUN
fsr-3177	28	41	.	.	PUNCT
fsr-3177	29	1	as	as	ADV
fsr-3177	29	2	well	well	ADV
fsr-3177	29	3	clients	client	NOUN
fsr-3177	29	4	may	may	AUX
fsr-3177	29	5	not	not	PART
fsr-3177	29	6	have	have	VERB
fsr-3177	29	7	their	their	PRON
fsr-3177	29	8	entire	entire	ADJ
fsr-3177	29	9	portfolio	portfolio	NOUN
fsr-3177	29	10	with	with	ADP
fsr-3177	29	11	a	a	DET
fsr-3177	29	12	single	single	ADJ
fsr-3177	29	13	advisor	advisor	NOUN
fsr-3177	29	14	–	–	PUNCT
fsr-3177	29	15	so	so	SCONJ
fsr-3177	29	16	certificates	certificate	NOUN
fsr-3177	29	17	of	of	ADP
fsr-3177	29	18	deposit	deposit	NOUN
fsr-3177	29	19	at	at	ADP
fsr-3177	29	20	a	a	DET
fsr-3177	29	21	bank	bank	NOUN
fsr-3177	29	22	and	and	CCONJ
fsr-3177	29	23	equity	equity	NOUN
fsr-3177	29	24	investments	investment	NOUN
fsr-3177	29	25	with	with	ADP
fsr-3177	29	26	an	an	DET
fsr-3177	29	27	investment	investment	NOUN
fsr-3177	29	28	specialist	specialist	NOUN
fsr-3177	29	29	.	.	PUNCT
fsr-3177	30	1	can	can	AUX
fsr-3177	30	2	firms	firm	NOUN
fsr-3177	30	3	monitor	monitor	VERB
fsr-3177	30	4	assets	asset	NOUN
fsr-3177	30	5	“	"	PUNCT
fsr-3177	30	6	held	hold	VERB
fsr-3177	30	7	away	away	ADV
fsr-3177	30	8	”	"	PUNCT
fsr-3177	30	9	and	and	CCONJ
fsr-3177	30	10	balance	balance	NOUN
fsr-3177	30	11	to	to	ADP
fsr-3177	30	12	the	the	DET
fsr-3177	30	13	overall	overall	ADJ
fsr-3177	30	14	portfolio	portfolio	NOUN
fsr-3177	30	15	suitable	suitable	ADJ
fsr-3177	30	16	for	for	ADP
fsr-3177	30	17	the	the	DET
fsr-3177	30	18	client	client	NOUN
fsr-3177	30	19	or	or	CCONJ
fsr-3177	30	20	do	do	AUX
fsr-3177	30	21	they	they	PRON
fsr-3177	30	22	need	need	VERB
fsr-3177	30	23	to	to	PART
fsr-3177	30	24	ensure	ensure	VERB
fsr-3177	30	25	the	the	DET
fsr-3177	30	26	client	client	NOUN
fsr-3177	30	27	has	have	VERB
fsr-3177	30	28	sufficient	sufficient	ADJ
fsr-3177	30	29	defensive	defensive	ADJ
fsr-3177	30	30	assets	asset	NOUN
fsr-3177	30	31	held	hold	VERB
fsr-3177	30	32	with	with	ADP
fsr-3177	30	33	them	they	PRON
fsr-3177	30	34	?	?	PUNCT
fsr-3177	31	1	clearly	clearly	ADV
fsr-3177	31	2	advisors	advisor	NOUN
fsr-3177	31	3	have	have	VERB
fsr-3177	31	4	a	a	DET
fsr-3177	31	5	formidable	formidable	ADJ
fsr-3177	31	6	task	task	NOUN
fsr-3177	31	7	and	and	CCONJ
fsr-3177	31	8	financial	financial	ADJ
fsr-3177	31	9	advisors	advisor	NOUN
fsr-3177	31	10	who	who	PRON
fsr-3177	31	11	,	,	PUNCT
fsr-3177	31	12	by	by	ADP
fsr-3177	31	13	definition	definition	NOUN
fsr-3177	31	14	,	,	PUNCT
fsr-3177	31	15	need	need	VERB
fsr-3177	31	16	to	to	PART
fsr-3177	31	17	look	look	VERB
fsr-3177	31	18	at	at	ADP
fsr-3177	31	19	the	the	DET
fsr-3177	31	20	holistic	holistic	ADJ
fsr-3177	31	21	position	position	NOUN
fsr-3177	31	22	of	of	ADP
fsr-3177	31	23	the	the	DET
fsr-3177	31	24	client	client	NOUN
fsr-3177	31	25	and	and	CCONJ
fsr-3177	31	26	ensure	ensure	VERB
fsr-3177	31	27	that	that	SCONJ
fsr-3177	31	28	solutions	solution	NOUN
fsr-3177	31	29	are	be	AUX
fsr-3177	31	30	in	in	ADP
fsr-3177	31	31	the	the	DET
fsr-3177	31	32	investors	investor	NOUN
fsr-3177	31	33	best	good	ADJ
fsr-3177	31	34	interest	interest	NOUN
fsr-3177	31	35	may	may	AUX
fsr-3177	31	36	need	need	VERB
fsr-3177	31	37	to	to	PART
fsr-3177	31	38	be	be	AUX
fsr-3177	31	39	very	very	ADV
fsr-3177	31	40	creative	creative	ADJ
fsr-3177	31	41	to	to	PART
fsr-3177	31	42	do	do	VERB
fsr-3177	31	43	this	this	PRON
fsr-3177	31	44	and	and	CCONJ
fsr-3177	31	45	ensure	ensure	VERB
fsr-3177	31	46	they	they	PRON
fsr-3177	31	47	comply	comply	VERB
fsr-3177	31	48	with	with	ADP
fsr-3177	31	49	all	all	DET
fsr-3177	31	50	the	the	DET
fsr-3177	31	51	requirements	requirement	NOUN
fsr-3177	31	52	of	of	ADP
fsr-3177	31	53	their	their	PRON
fsr-3177	31	54	compliance	compliance	NOUN
fsr-3177	31	55	department	department	NOUN
fsr-3177	31	56	and	and	CCONJ
fsr-3177	31	57	the	the	DET
fsr-3177	31	58	regulator	regulator	NOUN
fsr-3177	31	59	.	.	PUNCT
fsr-3177	32	1	in	in	ADP
fsr-3177	32	2	this	this	DET
fsr-3177	32	3	paper	paper	NOUN
fsr-3177	32	4	we	we	PRON
fsr-3177	32	5	are	be	AUX
fsr-3177	32	6	addressing	address	VERB
fsr-3177	32	7	the	the	DET
fsr-3177	32	8	problem	problem	NOUN
fsr-3177	32	9	from	from	ADP
fsr-3177	32	10	the	the	DET
fsr-3177	32	11	financial	financial	ADJ
fsr-3177	32	12	planning	planning	NOUN
fsr-3177	32	13	perspective	perspective	NOUN
fsr-3177	32	14	.	.	PUNCT
fsr-3177	33	1	significant	significant	ADJ
fsr-3177	33	2	research	research	NOUN
fsr-3177	33	3	has	have	AUX
fsr-3177	33	4	explored	explore	VERB
fsr-3177	33	5	how	how	SCONJ
fsr-3177	33	6	to	to	PART
fsr-3177	33	7	measure	measure	VERB
fsr-3177	33	8	an	an	DET
fsr-3177	33	9	investor	investor	NOUN
fsr-3177	33	10	’s	’s	PART
fsr-3177	33	11	tolerance	tolerance	NOUN
fsr-3177	33	12	for	for	ADP
fsr-3177	33	13	risk	risk	NOUN
fsr-3177	33	14	or	or	CCONJ
fsr-3177	33	15	willingness	willingness	NOUN
fsr-3177	33	16	to	to	PART
fsr-3177	33	17	take	take	VERB
fsr-3177	33	18	on	on	ADP
fsr-3177	33	19	risk	risk	NOUN
fsr-3177	33	20	.	.	PUNCT
fsr-3177	34	1	limited	limited	ADJ
fsr-3177	34	2	research	research	NOUN
fsr-3177	34	3	has	have	AUX
fsr-3177	34	4	evaluated	evaluate	VERB
fsr-3177	34	5	how	how	SCONJ
fsr-3177	34	6	advisors	advisor	NOUN
fsr-3177	34	7	combine	combine	VERB
fsr-3177	34	8	various	various	ADJ
fsr-3177	34	9	investor	investor	NOUN
fsr-3177	34	10	behavioural	behavioural	ADJ
fsr-3177	34	11	and	and	CCONJ
fsr-3177	34	12	planning	planning	NOUN
fsr-3177	34	13	factors	factor	NOUN
fsr-3177	34	14	to	to	PART
fsr-3177	34	15	arrive	arrive	VERB
fsr-3177	34	16	at	at	ADP
fsr-3177	34	17	a	a	DET
fsr-3177	34	18	"	"	PUNCT
fsr-3177	34	19	risk	risk	NOUN
fsr-3177	34	20	profile	profile	NOUN
fsr-3177	34	21	"	"	PUNCT
fsr-3177	34	22	for	for	ADP
fsr-3177	34	23	an	an	DET
fsr-3177	34	24	investor	investor	NOUN
fsr-3177	34	25	(	(	PUNCT
fsr-3177	34	26	i.e.	i.e.	X
fsr-3177	34	27	,	,	PUNCT
fsr-3177	34	28	how	how	SCONJ
fsr-3177	34	29	do	do	AUX
fsr-3177	34	30	financial	financial	ADJ
fsr-3177	34	31	advisors	advisor	NOUN
fsr-3177	34	32	adjust	adjust	VERB
fsr-3177	34	33	for	for	ADP
fsr-3177	34	34	time	time	NOUN
fsr-3177	34	35	horizon	horizon	NOUN
fsr-3177	34	36	,	,	PUNCT
fsr-3177	34	37	risk	risk	NOUN
fsr-3177	34	38	capacity	capacity	NOUN
fsr-3177	34	39	,	,	PUNCT
fsr-3177	34	40	etc	etc	X
fsr-3177	34	41	.	.	X
fsr-3177	34	42	)	)	PUNCT
fsr-3177	34	43	.	.	PUNCT
fsr-3177	35	1	assuming	assume	VERB
fsr-3177	35	2	a	a	DET
fsr-3177	35	3	financial	financial	ADJ
fsr-3177	35	4	advisor	advisor	NOUN
fsr-3177	35	5	does	do	VERB
fsr-3177	35	6	so	so	ADV
fsr-3177	35	7	,	,	PUNCT
fsr-3177	35	8	they	they	PRON
fsr-3177	35	9	are	be	AUX
fsr-3177	35	10	then	then	ADV
fsr-3177	35	11	expected	expect	VERB
fsr-3177	35	12	to	to	PART
fsr-3177	35	13	be	be	AUX
fsr-3177	35	14	able	able	ADJ
fsr-3177	35	15	to	to	PART
fsr-3177	35	16	map	map	VERB
fsr-3177	35	17	risktolerance	risktolerance	NOUN
fsr-3177	35	18	/	/	SYM
fsr-3177	35	19	profile	profile	NOUN
fsr-3177	35	20	scores	score	NOUN
fsr-3177	35	21	to	to	ADP
fsr-3177	35	22	suitable	suitable	ADJ
fsr-3177	35	23	product	product	NOUN
fsr-3177	35	24	solutions	solution	NOUN
fsr-3177	35	25	or	or	CCONJ
fsr-3177	35	26	portfolios	portfolio	NOUN
fsr-3177	35	27	that	that	SCONJ
fsr-3177	35	28	they	they	PRON
fsr-3177	35	29	intend	intend	VERB
fsr-3177	35	30	to	to	PART
fsr-3177	35	31	recommend	recommend	VERB
fsr-3177	35	32	.	.	PUNCT
fsr-3177	36	1	this	this	DET
fsr-3177	36	2	“	"	PUNCT
fsr-3177	36	3	mapping	mapping	NOUN
fsr-3177	36	4	”	"	PUNCT
fsr-3177	36	5	stage	stage	NOUN
fsr-3177	36	6	requires	require	VERB
fsr-3177	36	7	that	that	SCONJ
fsr-3177	36	8	there	there	PRON
fsr-3177	36	9	is	be	VERB
fsr-3177	36	10	an	an	DET
fsr-3177	36	11	acceptable	acceptable	ADJ
fsr-3177	36	12	methodology	methodology	NOUN
fsr-3177	36	13	for	for	ADP
fsr-3177	36	14	measuring	measure	VERB
fsr-3177	36	15	investment	investment	NOUN
fsr-3177	36	16	risk	risk	NOUN
fsr-3177	36	17	related	relate	VERB
fsr-3177	36	18	to	to	ADP
fsr-3177	36	19	products	product	NOUN
fsr-3177	36	20	as	as	ADV
fsr-3177	36	21	well	well	ADV
fsr-3177	36	22	as	as	ADP
fsr-3177	36	23	relating	relate	VERB
fsr-3177	36	24	this	this	DET
fsr-3177	36	25	investment	investment	NOUN
fsr-3177	36	26	risk	risk	NOUN
fsr-3177	36	27	measure	measure	NOUN
fsr-3177	36	28	back	back	ADV
fsr-3177	36	29	to	to	ADP
fsr-3177	36	30	the	the	DET
fsr-3177	36	31	profile	profile	NOUN
fsr-3177	36	32	of	of	ADP
fsr-3177	36	33	the	the	DET
fsr-3177	36	34	investor	investor	NOUN
fsr-3177	36	35	.	.	PUNCT
fsr-3177	37	1	a	a	DET
fsr-3177	37	2	search	search	NOUN
fsr-3177	37	3	of	of	ADP
fsr-3177	37	4	the	the	DET
fsr-3177	37	5	literature	literature	NOUN
fsr-3177	37	6	and	and	CCONJ
fsr-3177	37	7	common	common	ADJ
fsr-3177	37	8	practices	practice	NOUN
fsr-3177	37	9	in	in	ADP
fsr-3177	37	10	the	the	DET
fsr-3177	37	11	financial	financial	ADJ
fsr-3177	37	12	advisory	advisory	ADJ
fsr-3177	37	13	field	field	NOUN
fsr-3177	37	14	illustrates	illustrate	VERB
fsr-3177	37	15	that	that	SCONJ
fsr-3177	37	16	there	there	PRON
fsr-3177	37	17	are	be	VERB
fsr-3177	37	18	many	many	ADJ
fsr-3177	37	19	possible	possible	ADJ
fsr-3177	37	20	approaches	approach	NOUN
fsr-3177	37	21	but	but	CCONJ
fsr-3177	37	22	little	little	ADJ
fsr-3177	37	23	consensus	consensus	NOUN
fsr-3177	37	24	on	on	ADP
fsr-3177	37	25	best	good	ADJ
fsr-3177	37	26	practice	practice	NOUN
fsr-3177	37	27	.	.	PUNCT
fsr-3177	38	1	this	this	DET
fsr-3177	38	2	diversity	diversity	NOUN
fsr-3177	38	3	in	in	ADP
fsr-3177	38	4	methodologies	methodology	NOUN
fsr-3177	38	5	exists	exist	VERB
fsr-3177	38	6	in	in	ADP
fsr-3177	38	7	part	part	NOUN
fsr-3177	38	8	because	because	SCONJ
fsr-3177	38	9	of	of	ADP
fsr-3177	38	10	the	the	DET
fsr-3177	38	11	wide	wide	ADJ
fsr-3177	38	12	variety	variety	NOUN
fsr-3177	38	13	of	of	ADP
fsr-3177	38	14	considerations	consideration	NOUN
fsr-3177	38	15	—	—	PUNCT
fsr-3177	38	16	from	from	ADP
fsr-3177	38	17	investor	investor	NOUN
fsr-3177	38	18	expectations	expectation	NOUN
fsr-3177	38	19	to	to	ADP
fsr-3177	38	20	the	the	DET
fsr-3177	38	21	nature	nature	NOUN
fsr-3177	38	22	of	of	ADP
fsr-3177	38	23	the	the	DET
fsr-3177	38	24	returns	return	NOUN
fsr-3177	38	25	in	in	ADP
fsr-3177	38	26	a	a	DET
fsr-3177	38	27	specific	specific	ADJ
fsr-3177	38	28	market	market	NOUN
fsr-3177	38	29	to	to	ADP
fsr-3177	38	30	the	the	DET
fsr-3177	38	31	unique	unique	ADJ
fsr-3177	38	32	features	feature	NOUN
fsr-3177	38	33	of	of	ADP
fsr-3177	38	34	individual	individual	ADJ
fsr-3177	38	35	products	product	NOUN
fsr-3177	38	36	(	(	PUNCT
fsr-3177	38	37	e.g.	e.g.	ADV
fsr-3177	38	38	,	,	PUNCT
fsr-3177	38	39	leverage	leverage	NOUN
fsr-3177	38	40	,	,	PUNCT
fsr-3177	38	41	downside	downside	ADJ
fsr-3177	38	42	protection	protection	NOUN
fsr-3177	38	43	,	,	PUNCT
fsr-3177	38	44	currency	currency	NOUN
fsr-3177	38	45	)	)	PUNCT
fsr-3177	38	46	,	,	PUNCT
fsr-3177	38	47	which	which	PRON
fsr-3177	38	48	can	can	AUX
fsr-3177	38	49	be	be	AUX
fsr-3177	38	50	even	even	ADV
fsr-3177	38	51	more	more	ADV
fsr-3177	38	52	obscured	obscure	VERB
fsr-3177	38	53	with	with	ADP
fsr-3177	38	54	current	current	ADJ
fsr-3177	38	55	forms	form	NOUN
fsr-3177	38	56	of	of	ADP
fsr-3177	38	57	engineered	engineer	VERB
fsr-3177	38	58	products	product	NOUN
fsr-3177	38	59	.	.	PUNCT
fsr-3177	39	1	the	the	DET
fsr-3177	39	2	purpose	purpose	NOUN
fsr-3177	39	3	of	of	ADP
fsr-3177	39	4	this	this	DET
fsr-3177	39	5	paper	paper	NOUN
fsr-3177	39	6	is	be	AUX
fsr-3177	39	7	to	to	PART
fsr-3177	39	8	review	review	VERB
fsr-3177	39	9	approaches	approach	NOUN
fsr-3177	39	10	to	to	ADP
fsr-3177	39	11	mapping	map	VERB
fsr-3177	39	12	an	an	DET
fsr-3177	39	13	investor	investor	NOUN
fsr-3177	39	14	’s	’s	PART
fsr-3177	39	15	risk	risk	NOUN
fsr-3177	39	16	profile	profile	NOUN
fsr-3177	39	17	to	to	ADP
fsr-3177	39	18	an	an	DET
fsr-3177	39	19	investment	investment	NOUN
fsr-3177	39	20	solution	solution	NOUN
fsr-3177	39	21	,	,	PUNCT
fsr-3177	39	22	with	with	ADP
fsr-3177	39	23	the	the	DET
fsr-3177	39	24	objective	objective	NOUN
fsr-3177	39	25	of	of	ADP
fsr-3177	39	26	identifying	identify	VERB
fsr-3177	39	27	best	good	ADJ
fsr-3177	39	28	practices	practice	NOUN
fsr-3177	39	29	that	that	PRON
fsr-3177	39	30	can	can	AUX
fsr-3177	39	31	be	be	AUX
fsr-3177	39	32	utilized	utilize	VERB
fsr-3177	39	33	by	by	ADP
fsr-3177	39	34	financial	financial	ADJ
fsr-3177	39	35	advisors	advisor	NOUN
fsr-3177	39	36	.	.	PUNCT
fsr-3177	40	1	literature	literature	NOUN
fsr-3177	40	2	review	review	NOUN
fsr-3177	40	3	while	while	SCONJ
fsr-3177	40	4	there	there	PRON
fsr-3177	40	5	is	be	VERB
fsr-3177	40	6	no	no	DET
fsr-3177	40	7	universal	universal	ADJ
fsr-3177	40	8	consensus	consensus	NOUN
fsr-3177	40	9	in	in	ADP
fsr-3177	40	10	the	the	DET
fsr-3177	40	11	literature	literature	NOUN
fsr-3177	40	12	,	,	PUNCT
fsr-3177	40	13	there	there	PRON
fsr-3177	40	14	appear	appear	VERB
fsr-3177	40	15	to	to	PART
fsr-3177	40	16	be	be	AUX
fsr-3177	40	17	four	four	NUM
fsr-3177	40	18	key	key	ADJ
fsr-3177	40	19	components	component	NOUN
fsr-3177	40	20	of	of	ADP
fsr-3177	40	21	a	a	DET
fsr-3177	40	22	risk	risk	NOUN
fsr-3177	40	23	profile	profile	NOUN
fsr-3177	40	24	:	:	PUNCT
fsr-3177	40	25	risk	risk	NOUN
fsr-3177	40	26	capacity	capacity	NOUN
fsr-3177	40	27	,	,	PUNCT
fsr-3177	40	28	risk	risk	NOUN
fsr-3177	40	29	need	need	NOUN
fsr-3177	40	30	,	,	PUNCT
fsr-3177	40	31	time	time	NOUN
fsr-3177	40	32	horizon	horizon	NOUN
fsr-3177	40	33	,	,	PUNCT
fsr-3177	40	34	and	and	CCONJ
fsr-3177	40	35	behavioural	behavioural	ADJ
fsr-3177	40	36	risk	risk	NOUN
fsr-3177	40	37	tolerance	tolerance	NOUN
fsr-3177	40	38	(	(	PUNCT
fsr-3177	40	39	hubble	hubble	PROPN
fsr-3177	40	40	et	et	PROPN
fsr-3177	40	41	al	al	PROPN
fsr-3177	40	42	.	.	PROPN
fsr-3177	40	43	,	,	PUNCT
fsr-3177	40	44	2020	2020	NUM
fsr-3177	40	45	)	)	PUNCT
fsr-3177	40	46	.	.	PUNCT
fsr-3177	41	1	because	because	SCONJ
fsr-3177	41	2	short	short	ADJ
fsr-3177	41	3	-	-	PUNCT
fsr-3177	41	4	term	term	NOUN
fsr-3177	41	5	volatility	volatility	NOUN
fsr-3177	41	6	does	do	AUX
fsr-3177	41	7	not	not	PART
fsr-3177	41	8	necessarily	necessarily	ADV
fsr-3177	41	9	equate	equate	VERB
fsr-3177	41	10	with	with	ADP
fsr-3177	41	11	long	long	ADJ
fsr-3177	41	12	-	-	PUNCT
fsr-3177	41	13	term	term	NOUN
fsr-3177	41	14	underperformance	underperformance	NOUN
fsr-3177	41	15	,	,	PUNCT
fsr-3177	41	16	investment	investment	NOUN
fsr-3177	41	17	horizon	horizon	NOUN
fsr-3177	41	18	should	should	AUX
fsr-3177	41	19	be	be	AUX
fsr-3177	41	20	more	more	ADV
fsr-3177	41	21	prioritised	prioritise	VERB
fsr-3177	41	22	in	in	ADP
fsr-3177	41	23	mapping	map	VERB
fsr-3177	41	24	risk	risk	NOUN
fsr-3177	41	25	tolerance	tolerance	NOUN
fsr-3177	41	26	to	to	ADP
fsr-3177	41	27	investment	investment	NOUN
fsr-3177	41	28	portfolios	portfolio	NOUN
fsr-3177	41	29	(	(	PUNCT
fsr-3177	41	30	hanna	hanna	PROPN
fsr-3177	41	31	&	&	CCONJ
fsr-3177	41	32	chen	chen	PROPN
fsr-3177	41	33	,	,	PUNCT
fsr-3177	41	34	1998	1998	NUM
fsr-3177	41	35	)	)	PUNCT
fsr-3177	41	36	.	.	PUNCT
fsr-3177	42	1	droms	drom	NOUN
fsr-3177	42	2	and	and	CCONJ
fsr-3177	42	3	strauss	strauss	PROPN
fsr-3177	42	4	(	(	PUNCT
fsr-3177	42	5	2003	2003	NUM
fsr-3177	42	6	)	)	PUNCT
fsr-3177	42	7	advocated	advocate	VERB
fsr-3177	42	8	for	for	ADP
fsr-3177	42	9	a	a	DET
fsr-3177	42	10	more	more	ADV
fsr-3177	42	11	financial	financial	ADJ
fsr-3177	42	12	services	service	NOUN
fsr-3177	42	13	review	review	NOUN
fsr-3177	42	14	,	,	PUNCT
fsr-3177	42	15	31(4	31(4	NUM
fsr-3177	42	16	)	)	PUNCT
fsr-3177	42	17	248	248	NUM
fsr-3177	42	18	qualitative	qualitative	NOUN
fsr-3177	42	19	,	,	PUNCT
fsr-3177	42	20	personalised	personalised	ADJ
fsr-3177	42	21	,	,	PUNCT
fsr-3177	42	22	and	and	CCONJ
fsr-3177	42	23	intuitive	intuitive	ADJ
fsr-3177	42	24	approach	approach	NOUN
fsr-3177	42	25	to	to	ADP
fsr-3177	42	26	portfolio	portfolio	NOUN
fsr-3177	42	27	selection	selection	NOUN
fsr-3177	42	28	,	,	PUNCT
fsr-3177	42	29	still	still	ADV
fsr-3177	42	30	based	base	VERB
fsr-3177	42	31	on	on	ADP
fsr-3177	42	32	a	a	DET
fsr-3177	42	33	risk	risk	NOUN
fsr-3177	42	34	profile	profile	NOUN
fsr-3177	42	35	and	and	CCONJ
fsr-3177	42	36	investment	investment	NOUN
fsr-3177	42	37	horizon	horizon	NOUN
fsr-3177	42	38	,	,	PUNCT
fsr-3177	42	39	but	but	CCONJ
fsr-3177	42	40	mainly	mainly	ADV
fsr-3177	42	41	based	base	VERB
fsr-3177	42	42	on	on	ADP
fsr-3177	42	43	the	the	DET
fsr-3177	42	44	rough	rough	ADJ
fsr-3177	42	45	characteristics	characteristic	NOUN
fsr-3177	42	46	of	of	ADP
fsr-3177	42	47	asset	asset	NOUN
fsr-3177	42	48	classes	class	NOUN
fsr-3177	42	49	and	and	CCONJ
fsr-3177	42	50	their	their	PRON
fsr-3177	42	51	‘	'	PUNCT
fsr-3177	42	52	appropriateness	appropriateness	NOUN
fsr-3177	42	53	’	'	PUNCT
fsr-3177	42	54	in	in	ADP
fsr-3177	42	55	terms	term	NOUN
fsr-3177	42	56	of	of	ADP
fsr-3177	42	57	trade	trade	NOUN
fsr-3177	42	58	-	-	PUNCT
fsr-3177	42	59	offs	off	NOUN
fsr-3177	42	60	.	.	PUNCT
fsr-3177	43	1	this	this	PRON
fsr-3177	43	2	is	be	AUX
fsr-3177	43	3	still	still	ADV
fsr-3177	43	4	a	a	DET
fsr-3177	43	5	commonly	commonly	ADV
fsr-3177	43	6	practised	practise	VERB
fsr-3177	43	7	approach	approach	NOUN
fsr-3177	43	8	,	,	PUNCT
fsr-3177	43	9	but	but	CCONJ
fsr-3177	43	10	relatively	relatively	ADV
fsr-3177	43	11	ad	ad	NOUN
fsr-3177	43	12	-	-	PUNCT
fsr-3177	43	13	hoc	hoc	X
fsr-3177	43	14	in	in	ADP
fsr-3177	43	15	its	its	PRON
fsr-3177	43	16	justifications	justification	NOUN
fsr-3177	43	17	.	.	PUNCT
fsr-3177	44	1	investors	investor	NOUN
fsr-3177	44	2	perceive	perceive	VERB
fsr-3177	44	3	risk	risk	NOUN
fsr-3177	44	4	as	as	ADP
fsr-3177	44	5	negative	negative	ADJ
fsr-3177	44	6	,	,	PUNCT
fsr-3177	44	7	in	in	ADP
fsr-3177	44	8	terms	term	NOUN
fsr-3177	44	9	of	of	ADP
fsr-3177	44	10	the	the	DET
fsr-3177	44	11	possibility	possibility	NOUN
fsr-3177	44	12	of	of	ADP
fsr-3177	44	13	underperformance	underperformance	NOUN
fsr-3177	44	14	,	,	PUNCT
fsr-3177	44	15	financial	financial	ADJ
fsr-3177	44	16	loss	loss	NOUN
fsr-3177	44	17	,	,	PUNCT
fsr-3177	44	18	and/or	and/or	CCONJ
fsr-3177	44	19	inability	inability	NOUN
fsr-3177	44	20	to	to	PART
fsr-3177	44	21	meet	meet	VERB
fsr-3177	44	22	financial	financial	ADJ
fsr-3177	44	23	goals	goal	NOUN
fsr-3177	44	24	.	.	PUNCT
fsr-3177	45	1	swisher	swisher	PROPN
fsr-3177	45	2	and	and	CCONJ
fsr-3177	45	3	kasten	kasten	PROPN
fsr-3177	45	4	(	(	PUNCT
fsr-3177	45	5	2005	2005	NUM
fsr-3177	45	6	)	)	PUNCT
fsr-3177	45	7	asked	ask	VERB
fsr-3177	45	8	what	what	PRON
fsr-3177	45	9	the	the	DET
fsr-3177	45	10	minimum	minimum	ADJ
fsr-3177	45	11	level	level	NOUN
fsr-3177	45	12	of	of	ADP
fsr-3177	45	13	return	return	NOUN
fsr-3177	45	14	that	that	PRON
fsr-3177	45	15	is	be	AUX
fsr-3177	45	16	‘	'	PUNCT
fsr-3177	45	17	acceptable	acceptable	ADJ
fsr-3177	45	18	’	'	PUNCT
fsr-3177	45	19	to	to	ADP
fsr-3177	45	20	the	the	DET
fsr-3177	45	21	investor	investor	NOUN
fsr-3177	45	22	is	be	AUX
fsr-3177	45	23	and	and	CCONJ
fsr-3177	45	24	use	use	VERB
fsr-3177	45	25	minimum	minimum	ADJ
fsr-3177	45	26	acceptable	acceptable	ADJ
fsr-3177	45	27	return	return	NOUN
fsr-3177	45	28	(	(	PUNCT
fsr-3177	45	29	mar	mar	PROPN
fsr-3177	45	30	)	)	PUNCT
fsr-3177	45	31	as	as	ADP
fsr-3177	45	32	the	the	DET
fsr-3177	45	33	boundary	boundary	NOUN
fsr-3177	45	34	at	at	ADP
fsr-3177	45	35	which	which	PRON
fsr-3177	45	36	to	to	PART
fsr-3177	45	37	measure	measure	VERB
fsr-3177	45	38	downside	downside	ADJ
fsr-3177	45	39	risk	risk	NOUN
fsr-3177	45	40	,	,	PUNCT
fsr-3177	45	41	then	then	ADV
fsr-3177	45	42	optimise	optimise	VERB
fsr-3177	45	43	a	a	DET
fsr-3177	45	44	portfolio	portfolio	NOUN
fsr-3177	45	45	based	base	VERB
fsr-3177	45	46	on	on	ADP
fsr-3177	45	47	similar	similar	ADJ
fsr-3177	45	48	principles	principle	NOUN
fsr-3177	45	49	of	of	ADP
fsr-3177	45	50	mvo	mvo	PROPN
fsr-3177	45	51	,	,	PUNCT
fsr-3177	45	52	but	but	CCONJ
fsr-3177	45	53	in	in	ADP
fsr-3177	45	54	what	what	PRON
fsr-3177	45	55	they	they	PRON
fsr-3177	45	56	call	call	VERB
fsr-3177	45	57	downside	downside	ADJ
fsr-3177	45	58	risk	risk	NOUN
fsr-3177	45	59	optimisation	optimisation	NOUN
fsr-3177	45	60	(	(	PUNCT
fsr-3177	45	61	dro	dro	PROPN
fsr-3177	45	62	)	)	PUNCT
fsr-3177	45	63	.	.	PUNCT
fsr-3177	46	1	grable	grable	PROPN
fsr-3177	46	2	(	(	PUNCT
fsr-3177	46	3	2008	2008	NUM
fsr-3177	46	4	)	)	PUNCT
fsr-3177	46	5	proposed	propose	VERB
fsr-3177	46	6	an	an	DET
fsr-3177	46	7	alternative	alternative	NOUN
fsr-3177	46	8	based	base	VERB
fsr-3177	46	9	on	on	ADP
fsr-3177	46	10	a	a	DET
fsr-3177	46	11	multiplicative	multiplicative	ADJ
fsr-3177	46	12	model	model	NOUN
fsr-3177	46	13	of	of	ADP
fsr-3177	46	14	risk	risk	NOUN
fsr-3177	46	15	profile	profile	NOUN
fsr-3177	46	16	(	(	PUNCT
fsr-3177	46	17	from	from	ADP
fsr-3177	46	18	risk	risk	NOUN
fsr-3177	46	19	profile	profile	NOUN
fsr-3177	46	20	,	,	PUNCT
fsr-3177	46	21	risk	risk	NOUN
fsr-3177	46	22	capacity	capacity	NOUN
fsr-3177	46	23	and	and	CCONJ
fsr-3177	46	24	time	time	NOUN
fsr-3177	46	25	horizon	horizon	PROPN
fsr-3177	46	26	)	)	PUNCT
fsr-3177	46	27	.	.	PUNCT
fsr-3177	47	1	grable	grable	PROPN
fsr-3177	47	2	called	call	VERB
fsr-3177	47	3	this	this	DET
fsr-3177	47	4	riskcat	riskcat	NOUN
fsr-3177	47	5	,	,	PUNCT
fsr-3177	47	6	with	with	ADP
fsr-3177	47	7	the	the	DET
fsr-3177	47	8	result	result	NOUN
fsr-3177	47	9	being	be	AUX
fsr-3177	47	10	a	a	DET
fsr-3177	47	11	rps	rps	NOUN
fsr-3177	47	12	(	(	PUNCT
fsr-3177	47	13	i.e.	i.e.	X
fsr-3177	47	14	,	,	PUNCT
fsr-3177	47	15	score	score	NOUN
fsr-3177	47	16	)	)	PUNCT
fsr-3177	47	17	.	.	PUNCT
fsr-3177	48	1	with	with	ADP
fsr-3177	48	2	this	this	DET
fsr-3177	48	3	model	model	NOUN
fsr-3177	48	4	,	,	PUNCT
fsr-3177	48	5	an	an	DET
fsr-3177	48	6	investment	investment	NOUN
fsr-3177	48	7	risk	risk	NOUN
fsr-3177	48	8	index	index	NOUN
fsr-3177	48	9	is	be	AUX
fsr-3177	48	10	generated	generate	VERB
fsr-3177	48	11	with	with	ADP
fsr-3177	48	12	a	a	DET
fsr-3177	48	13	beta	beta	ADJ
fsr-3177	48	14	index	index	NOUN
fsr-3177	48	15	of	of	ADP
fsr-3177	48	16	1	1	NUM
fsr-3177	48	17	for	for	ADP
fsr-3177	48	18	a	a	DET
fsr-3177	48	19	75	75	NUM
fsr-3177	48	20	%	%	NOUN
fsr-3177	48	21	u.s	u.s	PROPN
fsr-3177	48	22	.	.	PROPN
fsr-3177	48	23	large	large	ADJ
fsr-3177	48	24	cap	cap	NOUN
fsr-3177	48	25	and	and	CCONJ
fsr-3177	48	26	25	25	NUM
fsr-3177	48	27	%	%	NOUN
fsr-3177	48	28	u.s	u.s	PROPN
fsr-3177	48	29	.	.	PROPN
fsr-3177	48	30	small	small	ADJ
fsr-3177	48	31	cap	cap	NOUN
fsr-3177	48	32	portfolio	portfolio	NOUN
fsr-3177	48	33	.	.	PUNCT
fsr-3177	49	1	a	a	DET
fsr-3177	49	2	var	var	NOUN
fsr-3177	49	3	(	(	PUNCT
fsr-3177	49	4	value	value	NOUN
fsr-3177	49	5	at	at	ADP
fsr-3177	49	6	risk	risk	NOUN
fsr-3177	49	7	)	)	PUNCT
fsr-3177	49	8	calculation	calculation	NOUN
fsr-3177	49	9	is	be	AUX
fsr-3177	49	10	then	then	ADV
fsr-3177	49	11	used	use	VERB
fsr-3177	49	12	to	to	PART
fsr-3177	49	13	map	map	VERB
fsr-3177	49	14	to	to	ADP
fsr-3177	49	15	corresponding	correspond	VERB
fsr-3177	49	16	rps	rps	PROPN
fsr-3177	49	17	.	.	PUNCT
fsr-3177	50	1	grable	grable	PROPN
fsr-3177	50	2	also	also	ADV
fsr-3177	50	3	noted	note	VERB
fsr-3177	50	4	that	that	SCONJ
fsr-3177	50	5	it	it	PRON
fsr-3177	50	6	may	may	AUX
fsr-3177	50	7	be	be	AUX
fsr-3177	50	8	possible	possible	ADJ
fsr-3177	50	9	to	to	PART
fsr-3177	50	10	map	map	VERB
fsr-3177	50	11	the	the	DET
fsr-3177	50	12	rps	rps	PROPN
fsr-3177	50	13	to	to	ADP
fsr-3177	50	14	the	the	DET
fsr-3177	50	15	efficient	efficient	ADJ
fsr-3177	50	16	frontier	frontier	NOUN
fsr-3177	50	17	.	.	PUNCT
fsr-3177	51	1	davey	davey	NOUN
fsr-3177	51	2	(	(	PUNCT
fsr-3177	51	3	2015	2015	NUM
fsr-3177	51	4	)	)	PUNCT
fsr-3177	51	5	outlined	outline	VERB
fsr-3177	51	6	a	a	DET
fsr-3177	51	7	detailed	detailed	ADJ
fsr-3177	51	8	relationship	relationship	NOUN
fsr-3177	51	9	between	between	ADP
fsr-3177	51	10	investor	investor	NOUN
fsr-3177	51	11	expectations	expectation	NOUN
fsr-3177	51	12	for	for	ADP
fsr-3177	51	13	the	the	DET
fsr-3177	51	14	percentage	percentage	NOUN
fsr-3177	51	15	of	of	ADP
fsr-3177	51	16	growth	growth	NOUN
fsr-3177	51	17	assets	asset	NOUN
fsr-3177	51	18	in	in	ADP
fsr-3177	51	19	a	a	DET
fsr-3177	51	20	portfolio	portfolio	NOUN
fsr-3177	51	21	and	and	CCONJ
fsr-3177	51	22	also	also	ADV
fsr-3177	51	23	largest	large	ADJ
fsr-3177	51	24	drops	drop	NOUN
fsr-3177	51	25	in	in	ADP
fsr-3177	51	26	value	value	NOUN
fsr-3177	51	27	they	they	PRON
fsr-3177	51	28	expect	expect	VERB
fsr-3177	51	29	as	as	SCONJ
fsr-3177	51	30	they	they	PRON
fsr-3177	51	31	relate	relate	VERB
fsr-3177	51	32	to	to	PART
fsr-3177	51	33	risk	risk	VERB
fsr-3177	51	34	tolerance	tolerance	NOUN
fsr-3177	51	35	.	.	PUNCT
fsr-3177	52	1	davey	davey	NOUN
fsr-3177	52	2	based	base	VERB
fsr-3177	52	3	observations	observation	NOUN
fsr-3177	52	4	on	on	ADP
fsr-3177	52	5	data	datum	NOUN
fsr-3177	52	6	from	from	ADP
fsr-3177	52	7	80,000	80,000	NUM
fsr-3177	52	8	respondents	respondent	NOUN
fsr-3177	52	9	to	to	ADP
fsr-3177	52	10	the	the	DET
fsr-3177	52	11	finametrica	finametrica	PROPN
fsr-3177	52	12	risktolerance	risktolerance	NOUN
fsr-3177	52	13	assessment	assessment	NOUN
fsr-3177	52	14	.	.	PUNCT
fsr-3177	53	1	davey	davey	NOUN
fsr-3177	53	2	back	back	ADP
fsr-3177	53	3	tested	test	VERB
fsr-3177	53	4	the	the	DET
fsr-3177	53	5	model	model	NOUN
fsr-3177	53	6	against	against	ADP
fsr-3177	53	7	portfolios	portfolio	NOUN
fsr-3177	53	8	and	and	CCONJ
fsr-3177	53	9	historical	historical	ADJ
fsr-3177	53	10	data	datum	NOUN
fsr-3177	53	11	to	to	PART
fsr-3177	53	12	confirm	confirm	VERB
fsr-3177	53	13	the	the	DET
fsr-3177	53	14	alignment	alignment	NOUN
fsr-3177	53	15	with	with	ADP
fsr-3177	53	16	the	the	DET
fsr-3177	53	17	largest	large	ADJ
fsr-3177	53	18	historical	historical	ADJ
fsr-3177	53	19	market	market	NOUN
fsr-3177	53	20	declines	decline	VERB
fsr-3177	53	21	.	.	PUNCT
fsr-3177	54	1	regulators	regulator	NOUN
fsr-3177	54	2	have	have	AUX
fsr-3177	54	3	approached	approach	VERB
fsr-3177	54	4	the	the	DET
fsr-3177	54	5	mapping	mapping	NOUN
fsr-3177	54	6	issue	issue	NOUN
fsr-3177	54	7	differently	differently	ADV
fsr-3177	54	8	.	.	PUNCT
fsr-3177	55	1	in	in	ADP
fsr-3177	55	2	the	the	DET
fsr-3177	55	3	european	european	PROPN
fsr-3177	55	4	union	union	PROPN
fsr-3177	55	5	,	,	PUNCT
fsr-3177	55	6	regulations	regulation	NOUN
fsr-3177	55	7	went	go	VERB
fsr-3177	55	8	into	into	ADP
fsr-3177	55	9	effect	effect	NOUN
fsr-3177	55	10	in	in	ADP
fsr-3177	55	11	2018	2018	NUM
fsr-3177	55	12	,	,	PUNCT
fsr-3177	55	13	in	in	ADP
fsr-3177	55	14	which	which	PRON
fsr-3177	55	15	the	the	DET
fsr-3177	55	16	european	european	ADJ
fsr-3177	55	17	securities	securities	PROPN
fsr-3177	55	18	and	and	CCONJ
fsr-3177	55	19	markets	market	NOUN
fsr-3177	55	20	authority	authority	NOUN
fsr-3177	55	21	prescribed	prescribe	VERB
fsr-3177	55	22	a	a	DET
fsr-3177	55	23	method	method	NOUN
fsr-3177	55	24	to	to	PART
fsr-3177	55	25	calculate	calculate	VERB
fsr-3177	55	26	the	the	DET
fsr-3177	55	27	risk	risk	NOUN
fsr-3177	55	28	on	on	ADP
fsr-3177	55	29	investment	investment	NOUN
fsr-3177	55	30	products	product	NOUN
fsr-3177	55	31	and	and	CCONJ
fsr-3177	55	32	portfolios	portfolio	NOUN
fsr-3177	55	33	,	,	PUNCT
fsr-3177	55	34	which	which	PRON
fsr-3177	55	35	were	be	AUX
fsr-3177	55	36	then	then	ADV
fsr-3177	55	37	rated	rate	VERB
fsr-3177	55	38	at	at	ADP
fsr-3177	55	39	one	one	NUM
fsr-3177	55	40	of	of	ADP
fsr-3177	55	41	seven	seven	NUM
fsr-3177	55	42	risk	risk	NOUN
fsr-3177	55	43	levels	level	NOUN
fsr-3177	55	44	.	.	PUNCT
fsr-3177	56	1	the	the	DET
fsr-3177	56	2	method	method	NOUN
fsr-3177	56	3	at	at	ADP
fsr-3177	56	4	its	its	PRON
fsr-3177	56	5	simplest	simplest	NOUN
fsr-3177	56	6	is	be	AUX
fsr-3177	56	7	a	a	DET
fsr-3177	56	8	standard	standard	ADJ
fsr-3177	56	9	deviation	deviation	NOUN
fsr-3177	56	10	based	base	VERB
fsr-3177	56	11	on	on	ADP
fsr-3177	56	12	the	the	DET
fsr-3177	56	13	fiveyear	fiveyear	NOUN
fsr-3177	56	14	monthly	monthly	ADJ
fsr-3177	56	15	volatility	volatility	NOUN
fsr-3177	56	16	of	of	ADP
fsr-3177	56	17	a	a	DET
fsr-3177	56	18	fund	fund	NOUN
fsr-3177	56	19	annualized	annualize	VERB
fsr-3177	56	20	,	,	PUNCT
fsr-3177	56	21	or	or	CCONJ
fsr-3177	56	22	in	in	ADP
fsr-3177	56	23	the	the	DET
fsr-3177	56	24	absence	absence	NOUN
fsr-3177	56	25	of	of	ADP
fsr-3177	56	26	a	a	DET
fsr-3177	56	27	history	history	NOUN
fsr-3177	56	28	,	,	PUNCT
fsr-3177	56	29	the	the	DET
fsr-3177	56	30	expectation	expectation	NOUN
fsr-3177	56	31	based	base	VERB
fsr-3177	56	32	on	on	ADP
fsr-3177	56	33	representative	representative	ADJ
fsr-3177	56	34	asset	asset	NOUN
fsr-3177	56	35	classes	class	NOUN
fsr-3177	56	36	.	.	PUNCT
fsr-3177	57	1	additionally	additionally	ADV
fsr-3177	57	2	,	,	PUNCT
fsr-3177	57	3	financial	financial	ADJ
fsr-3177	57	4	advisors	advisor	NOUN
fsr-3177	57	5	were	be	AUX
fsr-3177	57	6	provided	provide	VERB
fsr-3177	57	7	guidelines	guideline	NOUN
fsr-3177	57	8	on	on	ADP
fsr-3177	57	9	how	how	SCONJ
fsr-3177	57	10	to	to	PART
fsr-3177	57	11	consider	consider	VERB
fsr-3177	57	12	risk	risk	NOUN
fsr-3177	57	13	outside	outside	ADP
fsr-3177	57	14	normal	normal	ADJ
fsr-3177	57	15	market	market	NOUN
fsr-3177	57	16	behaviour	behaviour	NOUN
fsr-3177	57	17	based	base	VERB
fsr-3177	57	18	on	on	ADP
fsr-3177	57	19	guarantees	guarantee	NOUN
fsr-3177	57	20	,	,	PUNCT
fsr-3177	57	21	counter	counter	NOUN
fsr-3177	57	22	-	-	NOUN
fsr-3177	57	23	party	party	NOUN
fsr-3177	57	24	risk	risk	NOUN
fsr-3177	57	25	,	,	PUNCT
fsr-3177	57	26	embedded	embed	VERB
fsr-3177	57	27	leverage	leverage	NOUN
fsr-3177	57	28	,	,	PUNCT
fsr-3177	57	29	currency	currency	NOUN
fsr-3177	57	30	,	,	PUNCT
fsr-3177	57	31	and	and	CCONJ
fsr-3177	57	32	other	other	ADJ
fsr-3177	57	33	factors	factor	NOUN
fsr-3177	57	34	.	.	PUNCT
fsr-3177	58	1	some	some	PRON
fsr-3177	58	2	have	have	AUX
fsr-3177	58	3	argued	argue	VERB
fsr-3177	58	4	that	that	SCONJ
fsr-3177	58	5	a	a	DET
fsr-3177	58	6	risk	risk	NOUN
fsr-3177	58	7	parity	parity	NOUN
fsr-3177	58	8	approach	approach	NOUN
fsr-3177	58	9	should	should	AUX
fsr-3177	58	10	be	be	AUX
fsr-3177	58	11	used	use	VERB
fsr-3177	58	12	to	to	PART
fsr-3177	58	13	build	build	VERB
fsr-3177	58	14	an	an	DET
fsr-3177	58	15	optimal	optimal	ADJ
fsr-3177	58	16	portfolio	portfolio	NOUN
fsr-3177	58	17	using	use	VERB
fsr-3177	58	18	the	the	DET
fsr-3177	58	19	risk	risk	NOUN
fsr-3177	58	20	factors	factor	NOUN
fsr-3177	58	21	of	of	ADP
fsr-3177	58	22	the	the	DET
fsr-3177	58	23	investments	investment	NOUN
fsr-3177	58	24	with	with	ADP
fsr-3177	58	25	no	no	DET
fsr-3177	58	26	consideration	consideration	NOUN
fsr-3177	58	27	for	for	ADP
fsr-3177	58	28	their	their	PRON
fsr-3177	58	29	associated	associated	ADJ
fsr-3177	58	30	returns	return	NOUN
fsr-3177	58	31	.	.	PUNCT
fsr-3177	59	1	haesen	haesen	NOUN
fsr-3177	59	2	et	et	PROPN
fsr-3177	59	3	al	al	PROPN
fsr-3177	59	4	.	.	PROPN
fsr-3177	60	1	(	(	PUNCT
fsr-3177	60	2	2017	2017	NUM
fsr-3177	60	3	)	)	PUNCT
fsr-3177	60	4	attempted	attempt	VERB
fsr-3177	60	5	to	to	PART
fsr-3177	60	6	balance	balance	VERB
fsr-3177	60	7	the	the	DET
fsr-3177	60	8	risk	risk	NOUN
fsr-3177	60	9	parity	parity	NOUN
fsr-3177	60	10	approach	approach	NOUN
fsr-3177	60	11	with	with	ADP
fsr-3177	60	12	the	the	DET
fsr-3177	60	13	mean	mean	ADJ
fsr-3177	60	14	-	-	PUNCT
fsr-3177	60	15	variance	variance	NOUN
fsr-3177	60	16	model	model	NOUN
fsr-3177	60	17	using	use	VERB
fsr-3177	60	18	black	black	NOUN
fsr-3177	60	19	-	-	PUNCT
fsr-3177	60	20	litterman	litterman	NOUN
fsr-3177	60	21	in	in	ADP
fsr-3177	60	22	a	a	DET
fsr-3177	60	23	multi	multi	ADJ
fsr-3177	60	24	-	-	ADJ
fsr-3177	60	25	step	step	ADJ
fsr-3177	60	26	process	process	NOUN
fsr-3177	60	27	.	.	PUNCT
fsr-3177	61	1	other	other	ADJ
fsr-3177	61	2	ways	way	NOUN
fsr-3177	61	3	to	to	PART
fsr-3177	61	4	map	map	VERB
fsr-3177	61	5	investor	investor	NOUN
fsr-3177	61	6	risk	risk	NOUN
fsr-3177	61	7	to	to	ADP
fsr-3177	61	8	portfolio	portfolio	NOUN
fsr-3177	61	9	risk	risk	NOUN
fsr-3177	61	10	include	include	VERB
fsr-3177	61	11	(	(	PUNCT
fsr-3177	61	12	a	a	X
fsr-3177	61	13	)	)	PUNCT
fsr-3177	61	14	shortfall	shortfall	NOUN
fsr-3177	61	15	analysis	analysis	NOUN
fsr-3177	61	16	,	,	PUNCT
fsr-3177	61	17	(	(	PUNCT
fsr-3177	61	18	b	b	NOUN
fsr-3177	61	19	)	)	PUNCT
fsr-3177	61	20	expected	expect	VERB
fsr-3177	61	21	utility	utility	NOUN
fsr-3177	61	22	(	(	PUNCT
fsr-3177	61	23	i.e.	i.e.	X
fsr-3177	61	24	,	,	PUNCT
fsr-3177	61	25	how	how	SCONJ
fsr-3177	61	26	much	much	ADJ
fsr-3177	61	27	value	value	NOUN
fsr-3177	61	28	the	the	DET
fsr-3177	61	29	investor	investor	NOUN
fsr-3177	61	30	expects	expect	VERB
fsr-3177	61	31	the	the	DET
fsr-3177	61	32	investment	investment	NOUN
fsr-3177	61	33	will	will	AUX
fsr-3177	61	34	provide	provide	VERB
fsr-3177	61	35	,	,	PUNCT
fsr-3177	61	36	which	which	PRON
fsr-3177	61	37	is	be	AUX
fsr-3177	61	38	different	different	ADJ
fsr-3177	61	39	from	from	ADP
fsr-3177	61	40	the	the	DET
fsr-3177	61	41	statistically	statistically	ADV
fsr-3177	61	42	logical	logical	ADJ
fsr-3177	61	43	choice	choice	NOUN
fsr-3177	61	44	)	)	PUNCT
fsr-3177	61	45	,	,	PUNCT
fsr-3177	61	46	and	and	CCONJ
fsr-3177	61	47	(	(	PUNCT
fsr-3177	61	48	c	c	NOUN
fsr-3177	61	49	)	)	PUNCT
fsr-3177	61	50	relative	relative	ADJ
fsr-3177	61	51	risk	risk	NOUN
fsr-3177	61	52	aversion	aversion	NOUN
fsr-3177	61	53	(	(	PUNCT
fsr-3177	61	54	hanna	hanna	PROPN
fsr-3177	61	55	&	&	CCONJ
fsr-3177	61	56	chen	chen	PROPN
fsr-3177	61	57	,	,	PUNCT
fsr-3177	61	58	1998	1998	NUM
fsr-3177	61	59	)	)	PUNCT
fsr-3177	61	60	.	.	PUNCT
fsr-3177	62	1	several	several	ADJ
fsr-3177	62	2	models	model	NOUN
fsr-3177	62	3	take	take	VERB
fsr-3177	62	4	a	a	DET
fsr-3177	62	5	risk	risk	NOUN
fsr-3177	62	6	number	number	NOUN
fsr-3177	62	7	and	and	CCONJ
fsr-3177	62	8	use	use	VERB
fsr-3177	62	9	this	this	PRON
fsr-3177	62	10	as	as	ADP
fsr-3177	62	11	a	a	DET
fsr-3177	62	12	parameter	parameter	NOUN
fsr-3177	62	13	in	in	ADP
fsr-3177	62	14	a	a	DET
fsr-3177	62	15	risk	risk	NOUN
fsr-3177	62	16	model	model	NOUN
fsr-3177	62	17	calculation	calculation	NOUN
fsr-3177	62	18	that	that	PRON
fsr-3177	62	19	produces	produce	VERB
fsr-3177	62	20	a	a	DET
fsr-3177	62	21	given	give	VERB
fsr-3177	62	22	return	return	NOUN
fsr-3177	62	23	,	,	PUNCT
fsr-3177	62	24	then	then	ADV
fsr-3177	62	25	map	map	VERB
fsr-3177	62	26	it	it	PRON
fsr-3177	62	27	on	on	ADP
fsr-3177	62	28	to	to	ADP
fsr-3177	62	29	the	the	DET
fsr-3177	62	30	efficient	efficient	ADJ
fsr-3177	62	31	frontier	frontier	NOUN
fsr-3177	62	32	,	,	PUNCT
fsr-3177	62	33	or	or	CCONJ
fsr-3177	62	34	ad	ad	NOUN
fsr-3177	62	35	-	-	PUNCT
fsr-3177	62	36	hoc	hoc	X
fsr-3177	62	37	match	match	NOUN
fsr-3177	62	38	it	it	PRON
fsr-3177	62	39	to	to	ADP
fsr-3177	62	40	a	a	DET
fsr-3177	62	41	set	set	NOUN
fsr-3177	62	42	of	of	ADP
fsr-3177	62	43	portfolios	portfolio	NOUN
fsr-3177	62	44	.	.	PUNCT
fsr-3177	63	1	models	model	NOUN
fsr-3177	63	2	that	that	PRON
fsr-3177	63	3	use	use	VERB
fsr-3177	63	4	risk	risk	NOUN
fsr-3177	63	5	in	in	ADP
fsr-3177	63	6	calculations	calculation	NOUN
fsr-3177	63	7	do	do	VERB
fsr-3177	63	8	so	so	ADV
fsr-3177	63	9	in	in	ADP
fsr-3177	63	10	different	different	ADJ
fsr-3177	63	11	ways	way	NOUN
fsr-3177	63	12	.	.	PUNCT
fsr-3177	64	1	for	for	ADP
fsr-3177	64	2	example	example	NOUN
fsr-3177	64	3	,	,	PUNCT
fsr-3177	64	4	some	some	DET
fsr-3177	64	5	researchers	researcher	NOUN
fsr-3177	64	6	have	have	AUX
fsr-3177	64	7	used	use	VERB
fsr-3177	64	8	a	a	DET
fsr-3177	64	9	function	function	NOUN
fsr-3177	64	10	that	that	PRON
fsr-3177	64	11	weights	weight	VERB
fsr-3177	64	12	risk	risk	NOUN
fsr-3177	64	13	according	accord	VERB
fsr-3177	64	14	to	to	ADP
fsr-3177	64	15	a	a	DET
fsr-3177	64	16	subjective	subjective	ADJ
fsr-3177	64	17	aversion	aversion	NOUN
fsr-3177	64	18	to	to	PART
fsr-3177	64	19	produce	produce	VERB
fsr-3177	64	20	a	a	DET
fsr-3177	64	21	spectral	spectral	ADJ
fsr-3177	64	22	risk	risk	NOUN
fsr-3177	64	23	measure	measure	NOUN
fsr-3177	64	24	,	,	PUNCT
fsr-3177	64	25	such	such	ADJ
fsr-3177	64	26	as	as	ADP
fsr-3177	64	27	the	the	DET
fsr-3177	64	28	risk	risk	NOUN
fsr-3177	64	29	aversion	aversion	NOUN
fsr-3177	64	30	parameter	parameter	NOUN
fsr-3177	64	31	in	in	ADP
fsr-3177	64	32	the	the	DET
fsr-3177	64	33	black	black	ADJ
fsr-3177	64	34	-	-	PUNCT
fsr-3177	64	35	litterman	litterman	NOUN
fsr-3177	64	36	model	model	NOUN
fsr-3177	64	37	and	and	CCONJ
fsr-3177	64	38	related	related	ADJ
fsr-3177	64	39	models	model	NOUN
fsr-3177	64	40	such	such	ADJ
fsr-3177	64	41	as	as	ADP
fsr-3177	64	42	in	in	ADP
fsr-3177	64	43	haesen	haesen	PROPN
fsr-3177	64	44	et	et	PROPN
fsr-3177	64	45	al	al	PROPN
fsr-3177	64	46	.	.	PROPN
fsr-3177	65	1	(	(	PUNCT
fsr-3177	65	2	2017	2017	NUM
fsr-3177	65	3	)	)	PUNCT
fsr-3177	65	4	.	.	PUNCT
fsr-3177	66	1	others	other	NOUN
fsr-3177	66	2	have	have	AUX
fsr-3177	66	3	equated	equate	VERB
fsr-3177	66	4	risk	risk	NOUN
fsr-3177	66	5	scores	score	NOUN
fsr-3177	66	6	with	with	ADP
fsr-3177	66	7	the	the	DET
fsr-3177	66	8	beta	beta	ADJ
fsr-3177	66	9	value	value	NOUN
fsr-3177	66	10	in	in	ADP
fsr-3177	66	11	a	a	DET
fsr-3177	66	12	var	var	NOUN
fsr-3177	66	13	calculation	calculation	NOUN
fsr-3177	66	14	for	for	ADP
fsr-3177	66	15	the	the	DET
fsr-3177	66	16	maximum	maximum	ADJ
fsr-3177	66	17	level	level	NOUN
fsr-3177	66	18	of	of	ADP
fsr-3177	66	19	risk	risk	NOUN
fsr-3177	66	20	.	.	PUNCT
fsr-3177	67	1	with	with	ADP
fsr-3177	67	2	this	this	DET
fsr-3177	67	3	approach	approach	NOUN
fsr-3177	67	4	,	,	PUNCT
fsr-3177	67	5	investor	investor	NOUN
fsr-3177	67	6	preferences	preference	NOUN
fsr-3177	67	7	for	for	ADP
fsr-3177	67	8	return	return	NOUN
fsr-3177	67	9	and	and	CCONJ
fsr-3177	67	10	risk	risk	NOUN
fsr-3177	67	11	described	describe	VERB
fsr-3177	67	12	in	in	ADP
fsr-3177	67	13	a	a	DET
fsr-3177	67	14	spectral	spectral	ADJ
fsr-3177	67	15	utility	utility	NOUN
fsr-3177	67	16	function	function	NOUN
fsr-3177	67	17	are	be	AUX
fsr-3177	67	18	then	then	ADV
fsr-3177	67	19	mapped	map	VERB
fsr-3177	67	20	mathematically	mathematically	ADV
fsr-3177	67	21	onto	onto	ADP
fsr-3177	67	22	the	the	DET
fsr-3177	67	23	efficient	efficient	ADJ
fsr-3177	67	24	frontier	frontier	NOUN
fsr-3177	67	25	.	.	PUNCT
fsr-3177	68	1	finally	finally	ADV
fsr-3177	68	2	,	,	PUNCT
fsr-3177	68	3	other	other	ADJ
fsr-3177	68	4	approaches	approach	NOUN
fsr-3177	68	5	to	to	ADP
fsr-3177	68	6	selecting	select	VERB
fsr-3177	68	7	optimal	optimal	ADJ
fsr-3177	68	8	portfolios	portfolio	NOUN
fsr-3177	68	9	based	base	VERB
fsr-3177	68	10	on	on	ADP
fsr-3177	68	11	risk	risk	NOUN
fsr-3177	68	12	may	may	AUX
fsr-3177	68	13	not	not	PART
fsr-3177	68	14	consider	consider	VERB
fsr-3177	68	15	an	an	DET
fsr-3177	68	16	investor	investor	NOUN
fsr-3177	68	17	’s	’s	PART
fsr-3177	68	18	risk	risk	NOUN
fsr-3177	68	19	profile	profile	NOUN
fsr-3177	68	20	at	at	ADV
fsr-3177	68	21	all	all	ADV
fsr-3177	68	22	.	.	PUNCT
fsr-3177	69	1	methods	method	VERB
fsr-3177	69	2	the	the	DET
fsr-3177	69	3	objective	objective	NOUN
fsr-3177	69	4	of	of	ADP
fsr-3177	69	5	this	this	DET
fsr-3177	69	6	study	study	NOUN
fsr-3177	69	7	was	be	AUX
fsr-3177	69	8	to	to	PART
fsr-3177	69	9	evaluate	evaluate	VERB
fsr-3177	69	10	multiple	multiple	ADJ
fsr-3177	69	11	replicable	replicable	ADJ
fsr-3177	69	12	methodologies	methodology	NOUN
fsr-3177	69	13	for	for	ADP
fsr-3177	69	14	mapping	mapping	NOUN
fsr-3177	69	15	or	or	CCONJ
fsr-3177	69	16	linking	link	VERB
fsr-3177	69	17	from	from	ADP
fsr-3177	69	18	an	an	DET
fsr-3177	69	19	investor	investor	NOUN
fsr-3177	69	20	’s	’s	PART
fsr-3177	69	21	risk	risk	NOUN
fsr-3177	69	22	profile	profile	NOUN
fsr-3177	69	23	to	to	PART
fsr-3177	69	24	product	product	NOUN
fsr-3177	69	25	solutions	solution	NOUN
fsr-3177	69	26	and	and	CCONJ
fsr-3177	69	27	discover	discover	VERB
fsr-3177	69	28	if	if	SCONJ
fsr-3177	69	29	there	there	PRON
fsr-3177	69	30	is	be	VERB
fsr-3177	69	31	any	any	DET
fsr-3177	69	32	commonality	commonality	NOUN
fsr-3177	69	33	in	in	ADP
fsr-3177	69	34	the	the	DET
fsr-3177	69	35	outcomes	outcome	NOUN
fsr-3177	69	36	that	that	PRON
fsr-3177	69	37	would	would	AUX
fsr-3177	69	38	indicate	indicate	VERB
fsr-3177	69	39	a	a	DET
fsr-3177	69	40	consensus	consensus	NOUN
fsr-3177	69	41	or	or	CCONJ
fsr-3177	69	42	‘	'	PUNCT
fsr-3177	69	43	best	good	ADJ
fsr-3177	69	44	practice	practice	NOUN
fsr-3177	69	45	’	'	PUNCT
fsr-3177	69	46	.	.	PUNCT
fsr-3177	70	1	in	in	ADP
fsr-3177	70	2	the	the	DET
fsr-3177	70	3	same	same	ADJ
fsr-3177	70	4	way	way	NOUN
fsr-3177	70	5	financial	financial	ADJ
fsr-3177	70	6	advisors	advisor	NOUN
fsr-3177	70	7	would	would	AUX
fsr-3177	70	8	or	or	CCONJ
fsr-3177	70	9	should	should	AUX
fsr-3177	70	10	question	question	VERB
fsr-3177	70	11	tools	tool	NOUN
fsr-3177	70	12	for	for	ADP
fsr-3177	70	13	measuring	measure	VERB
fsr-3177	70	14	tolerance	tolerance	NOUN
fsr-3177	70	15	for	for	ADP
fsr-3177	70	16	risk	risk	NOUN
fsr-3177	70	17	or	or	CCONJ
fsr-3177	70	18	a	a	DET
fsr-3177	70	19	risk	risk	NOUN
fsr-3177	70	20	profile	profile	NOUN
fsr-3177	70	21	to	to	PART
fsr-3177	70	22	determine	determine	VERB
fsr-3177	70	23	if	if	SCONJ
fsr-3177	70	24	they	they	PRON
fsr-3177	70	25	give	give	VERB
fsr-3177	70	26	materially	materially	ADV
fsr-3177	70	27	different	different	ADJ
fsr-3177	70	28	measures	measure	NOUN
fsr-3177	70	29	for	for	ADP
fsr-3177	70	30	the	the	DET
fsr-3177	70	31	same	same	ADJ
fsr-3177	70	32	investor	investor	NOUN
fsr-3177	70	33	,	,	PUNCT
fsr-3177	70	34	or	or	CCONJ
fsr-3177	70	35	question	question	VERB
fsr-3177	70	36	brayman	brayman	NOUN
fsr-3177	70	37	et	et	PROPN
fsr-3177	70	38	al	al	PROPN
fsr-3177	70	39	.	.	PROPN
fsr-3177	71	1	249	249	NUM
fsr-3177	71	2	statistical	statistical	ADJ
fsr-3177	71	3	measures	measure	NOUN
fsr-3177	71	4	of	of	ADP
fsr-3177	71	5	risk	risk	NOUN
fsr-3177	71	6	of	of	ADP
fsr-3177	71	7	a	a	DET
fsr-3177	71	8	product	product	NOUN
fsr-3177	71	9	if	if	SCONJ
fsr-3177	71	10	one	one	NUM
fsr-3177	71	11	measure	measure	NOUN
fsr-3177	71	12	says	say	VERB
fsr-3177	71	13	a	a	DET
fsr-3177	71	14	product	product	NOUN
fsr-3177	71	15	is	be	AUX
fsr-3177	71	16	low	low	ADJ
fsr-3177	71	17	risk	risk	NOUN
fsr-3177	71	18	and	and	CCONJ
fsr-3177	71	19	another	another	PRON
fsr-3177	71	20	say	say	VERB
fsr-3177	71	21	the	the	DET
fsr-3177	71	22	same	same	ADJ
fsr-3177	71	23	product	product	NOUN
fsr-3177	71	24	is	be	AUX
fsr-3177	71	25	high	high	ADJ
fsr-3177	71	26	risk	risk	NOUN
fsr-3177	71	27	,	,	PUNCT
fsr-3177	71	28	there	there	PRON
fsr-3177	71	29	should	should	AUX
fsr-3177	71	30	be	be	AUX
fsr-3177	71	31	some	some	DET
fsr-3177	71	32	degree	degree	NOUN
fsr-3177	71	33	of	of	ADP
fsr-3177	71	34	consistent	consistent	ADJ
fsr-3177	71	35	outcome	outcome	NOUN
fsr-3177	71	36	when	when	SCONJ
fsr-3177	71	37	financial	financial	ADJ
fsr-3177	71	38	advisors	advisor	NOUN
fsr-3177	71	39	map	map	VERB
fsr-3177	71	40	the	the	DET
fsr-3177	71	41	risk	risk	NOUN
fsr-3177	71	42	of	of	ADP
fsr-3177	71	43	a	a	DET
fsr-3177	71	44	product	product	NOUN
fsr-3177	71	45	to	to	ADP
fsr-3177	71	46	the	the	DET
fsr-3177	71	47	profile	profile	NOUN
fsr-3177	71	48	of	of	ADP
fsr-3177	71	49	an	an	DET
fsr-3177	71	50	investor	investor	NOUN
fsr-3177	71	51	.	.	PUNCT
fsr-3177	72	1	if	if	SCONJ
fsr-3177	72	2	there	there	PRON
fsr-3177	72	3	is	be	VERB
fsr-3177	72	4	no	no	DET
fsr-3177	72	5	consensus	consensus	NOUN
fsr-3177	72	6	,	,	PUNCT
fsr-3177	72	7	can	can	AUX
fsr-3177	72	8	this	this	PRON
fsr-3177	72	9	be	be	AUX
fsr-3177	72	10	reasonably	reasonably	ADV
fsr-3177	72	11	explained	explain	VERB
fsr-3177	72	12	and	and	CCONJ
fsr-3177	72	13	resolved	resolve	VERB
fsr-3177	72	14	?	?	PUNCT
fsr-3177	73	1	in	in	ADP
fsr-3177	73	2	this	this	DET
fsr-3177	73	3	study	study	NOUN
fsr-3177	73	4	,	,	PUNCT
fsr-3177	73	5	we	we	PRON
fsr-3177	73	6	used	use	VERB
fsr-3177	73	7	four	four	NUM
fsr-3177	73	8	existing	exist	VERB
fsr-3177	73	9	mapping	mapping	NOUN
fsr-3177	73	10	methodologies	methodology	NOUN
fsr-3177	73	11	(	(	PUNCT
fsr-3177	73	12	or	or	CCONJ
fsr-3177	73	13	refinements	refinement	NOUN
fsr-3177	73	14	thereof	thereof	ADV
fsr-3177	73	15	)	)	PUNCT
fsr-3177	73	16	to	to	PART
fsr-3177	73	17	test	test	VERB
fsr-3177	73	18	if	if	SCONJ
fsr-3177	73	19	there	there	PRON
fsr-3177	73	20	was	be	VERB
fsr-3177	73	21	any	any	DET
fsr-3177	73	22	material	material	ADJ
fsr-3177	73	23	difference	difference	NOUN
fsr-3177	73	24	in	in	ADP
fsr-3177	73	25	the	the	DET
fsr-3177	73	26	results	result	NOUN
fsr-3177	73	27	.	.	PUNCT
fsr-3177	74	1	for	for	ADP
fsr-3177	74	2	each	each	DET
fsr-3177	74	3	methodology	methodology	NOUN
fsr-3177	74	4	,	,	PUNCT
fsr-3177	74	5	we	we	PRON
fsr-3177	74	6	mapped	map	VERB
fsr-3177	74	7	a	a	DET
fsr-3177	74	8	series	series	NOUN
fsr-3177	74	9	of	of	ADP
fsr-3177	74	10	efficient	efficient	ADJ
fsr-3177	74	11	portfolios	portfolio	NOUN
fsr-3177	74	12	using	use	VERB
fsr-3177	74	13	long	long	ADJ
fsr-3177	74	14	term	term	NOUN
fsr-3177	74	15	historical	historical	ADJ
fsr-3177	74	16	data	datum	NOUN
fsr-3177	74	17	,	,	PUNCT
fsr-3177	74	18	looking	look	VERB
fsr-3177	74	19	at	at	ADP
fsr-3177	74	20	four	four	NUM
fsr-3177	74	21	markets	market	NOUN
fsr-3177	74	22	/	/	SYM
fsr-3177	74	23	countries	country	NOUN
fsr-3177	74	24	:	:	PUNCT
fsr-3177	74	25	australia	australia	PROPN
fsr-3177	74	26	,	,	PUNCT
fsr-3177	74	27	canada	canada	PROPN
fsr-3177	74	28	,	,	PUNCT
fsr-3177	74	29	the	the	DET
fsr-3177	74	30	united	united	ADJ
fsr-3177	74	31	kingdom	kingdom	PROPN
fsr-3177	74	32	,	,	PUNCT
fsr-3177	74	33	and	and	CCONJ
fsr-3177	74	34	the	the	DET
fsr-3177	74	35	united	united	PROPN
fsr-3177	74	36	states	states	PROPN
fsr-3177	74	37	.	.	PUNCT
fsr-3177	75	1	we	we	PRON
fsr-3177	75	2	explored	explore	VERB
fsr-3177	75	3	two	two	NUM
fsr-3177	75	4	methods	method	NOUN
fsr-3177	75	5	for	for	ADP
fsr-3177	75	6	distributing	distribute	VERB
fsr-3177	75	7	portfolios	portfolio	NOUN
fsr-3177	75	8	along	along	ADP
fsr-3177	75	9	the	the	DET
fsr-3177	75	10	efficient	efficient	ADJ
fsr-3177	75	11	frontier	frontier	NOUN
fsr-3177	75	12	,	,	PUNCT
fsr-3177	75	13	based	base	VERB
fsr-3177	75	14	on	on	ADP
fsr-3177	75	15	even	even	ADV
fsr-3177	75	16	increments	increment	NOUN
fsr-3177	75	17	of	of	ADP
fsr-3177	75	18	the	the	DET
fsr-3177	75	19	standard	standard	ADJ
fsr-3177	75	20	deviation	deviation	NOUN
fsr-3177	75	21	or	or	CCONJ
fsr-3177	75	22	even	even	ADV
fsr-3177	75	23	increments	increment	NOUN
fsr-3177	75	24	of	of	ADP
fsr-3177	75	25	expected	expect	VERB
fsr-3177	75	26	returns	return	NOUN
fsr-3177	75	27	.	.	PUNCT
fsr-3177	76	1	in	in	ADP
fsr-3177	76	2	total	total	NOUN
fsr-3177	76	3	,	,	PUNCT
fsr-3177	76	4	we	we	PRON
fsr-3177	76	5	examined	examine	VERB
fsr-3177	76	6	14	14	NUM
fsr-3177	76	7	portfolios	portfolio	NOUN
fsr-3177	76	8	for	for	ADP
fsr-3177	76	9	each	each	PRON
fsr-3177	76	10	of	of	ADP
fsr-3177	76	11	the	the	DET
fsr-3177	76	12	four	four	NUM
fsr-3177	76	13	countries	country	NOUN
fsr-3177	76	14	using	use	VERB
fsr-3177	76	15	four	four	NUM
fsr-3177	76	16	methodologies	methodology	NOUN
fsr-3177	76	17	.	.	PUNCT
fsr-3177	77	1	after	after	ADP
fsr-3177	77	2	consideration	consideration	NOUN
fsr-3177	77	3	,	,	PUNCT
fsr-3177	77	4	we	we	PRON
fsr-3177	77	5	discarded	discard	VERB
fsr-3177	77	6	seven	seven	NUM
fsr-3177	77	7	portfolios	portfolio	NOUN
fsr-3177	77	8	based	base	VERB
fsr-3177	77	9	on	on	ADP
fsr-3177	77	10	an	an	DET
fsr-3177	77	11	equal	equal	ADJ
fsr-3177	77	12	distribution	distribution	NOUN
fsr-3177	77	13	of	of	ADP
fsr-3177	77	14	risk	risk	NOUN
fsr-3177	77	15	and	and	CCONJ
fsr-3177	77	16	utilized	utilize	VERB
fsr-3177	77	17	the	the	DET
fsr-3177	77	18	seven	seven	NUM
fsr-3177	77	19	using	use	VERB
fsr-3177	77	20	an	an	DET
fsr-3177	77	21	equal	equal	ADJ
fsr-3177	77	22	distribution	distribution	NOUN
fsr-3177	77	23	of	of	ADP
fsr-3177	77	24	return	return	NOUN
fsr-3177	77	25	.	.	PUNCT
fsr-3177	78	1	(	(	PUNCT
fsr-3177	78	2	see	see	VERB
fsr-3177	78	3	figure	figure	NOUN
fsr-3177	78	4	1	1	NUM
fsr-3177	78	5	.	.	PUNCT
fsr-3177	78	6	)	)	PUNCT
fsr-3177	78	7	figure	figure	NOUN
fsr-3177	78	8	1	1	NUM
fsr-3177	78	9	.	.	PUNCT
fsr-3177	78	10	seven	seven	NUM
fsr-3177	78	11	efficient	efficient	ADJ
fsr-3177	78	12	frontiers	frontier	NOUN
fsr-3177	78	13	with	with	ADP
fsr-3177	78	14	even	even	ADJ
fsr-3177	78	15	distribution	distribution	NOUN
fsr-3177	78	16	based	base	VERB
fsr-3177	78	17	on	on	ADP
fsr-3177	78	18	expected	expect	VERB
fsr-3177	78	19	return	return	VERB
fsr-3177	78	20	the	the	DET
fsr-3177	78	21	remainder	remainder	NOUN
fsr-3177	78	22	of	of	ADP
fsr-3177	78	23	this	this	DET
fsr-3177	78	24	paper	paper	NOUN
fsr-3177	78	25	is	be	AUX
fsr-3177	78	26	focused	focus	VERB
fsr-3177	78	27	on	on	ADP
fsr-3177	78	28	answering	answer	VERB
fsr-3177	78	29	the	the	DET
fsr-3177	78	30	following	follow	VERB
fsr-3177	78	31	question	question	NOUN
fsr-3177	78	32	:	:	PUNCT
fsr-3177	78	33	do	do	AUX
fsr-3177	78	34	the	the	DET
fsr-3177	78	35	four	four	NUM
fsr-3177	78	36	methodologies	methodology	NOUN
fsr-3177	78	37	map	map	VERB
fsr-3177	78	38	these	these	DET
fsr-3177	78	39	seven	seven	NUM
fsr-3177	78	40	portfolios	portfolio	NOUN
fsr-3177	78	41	into	into	ADP
fsr-3177	78	42	the	the	DET
fsr-3177	78	43	same	same	ADJ
fsr-3177	78	44	or	or	CCONJ
fsr-3177	78	45	similar	similar	ADJ
fsr-3177	78	46	risk	risk	NOUN
fsr-3177	78	47	bands	band	NOUN
fsr-3177	78	48	for	for	ADP
fsr-3177	78	49	investors	investor	NOUN
fsr-3177	78	50	?	?	PUNCT
fsr-3177	79	1	although	although	SCONJ
fsr-3177	79	2	finametrica	finametrica	PROPN
fsr-3177	79	3	/	/	SYM
fsr-3177	79	4	morningstar	morningstar	PROPN
fsr-3177	79	5	have	have	VERB
fsr-3177	79	6	a	a	DET
fsr-3177	79	7	proprietary	proprietary	ADJ
fsr-3177	79	8	psychometric	psychometric	NOUN
fsr-3177	79	9	stated	state	VERB
fsr-3177	79	10	-	-	PUNCT
fsr-3177	79	11	preference	preference	NOUN
fsr-3177	79	12	risk	risk	NOUN
fsr-3177	79	13	tolerance	tolerance	NOUN
fsr-3177	79	14	test	test	NOUN
fsr-3177	79	15	,	,	PUNCT
fsr-3177	79	16	and	and	CCONJ
fsr-3177	79	17	the	the	DET
fsr-3177	79	18	grable	grable	PROPN
fsr-3177	79	19	-	-	PUNCT
fsr-3177	79	20	lytton	lytton	PROPN
fsr-3177	79	21	test	test	NOUN
fsr-3177	79	22	(	(	PUNCT
fsr-3177	79	23	grable	grable	PROPN
fsr-3177	79	24	,	,	PUNCT
fsr-3177	79	25	lytton	lytton	PROPN
fsr-3177	79	26	,	,	PUNCT
fsr-3177	79	27	1998	1998	NUM
fsr-3177	79	28	)	)	PUNCT
fsr-3177	79	29	is	be	AUX
fsr-3177	79	30	a	a	DET
fsr-3177	79	31	well	well	ADV
fsr-3177	79	32	-	-	PUNCT
fsr-3177	79	33	documented	document	VERB
fsr-3177	79	34	and	and	CCONJ
fsr-3177	79	35	cited	cite	VERB
fsr-3177	79	36	stated	state	VERB
fsr-3177	79	37	-	-	PUNCT
fsr-3177	79	38	preference	preference	NOUN
fsr-3177	79	39	psychometric	psychometric	ADJ
fsr-3177	79	40	test	test	NOUN
fsr-3177	79	41	mentioned	mention	VERB
fsr-3177	79	42	in	in	ADP
fsr-3177	79	43	the	the	DET
fsr-3177	79	44	riskcat	riskcat	NOUN
fsr-3177	79	45	paper	paper	NOUN
fsr-3177	79	46	,	,	PUNCT
fsr-3177	79	47	the	the	DET
fsr-3177	79	48	respective	respective	ADJ
fsr-3177	79	49	mapping	mapping	NOUN
fsr-3177	79	50	methodologies	methodology	NOUN
fsr-3177	79	51	are	be	AUX
fsr-3177	79	52	independent	independent	ADJ
fsr-3177	79	53	,	,	PUNCT
fsr-3177	79	54	simply	simply	ADV
fsr-3177	79	55	assuming	assume	VERB
fsr-3177	79	56	the	the	DET
fsr-3177	79	57	use	use	NOUN
fsr-3177	79	58	of	of	ADP
fsr-3177	79	59	a	a	DET
fsr-3177	79	60	valid	valid	ADJ
fsr-3177	79	61	risk	risk	NOUN
fsr-3177	79	62	tolerance	tolerance	NOUN
fsr-3177	79	63	assessment	assessment	NOUN
fsr-3177	79	64	.	.	PUNCT
fsr-3177	80	1	in	in	ADP
fsr-3177	80	2	the	the	DET
fsr-3177	80	3	mifid	mifid	ADJ
fsr-3177	80	4	-	-	PUNCT
fsr-3177	80	5	ii	ii	NOUN
fsr-3177	80	6	final	final	ADJ
fsr-3177	80	7	report	report	NOUN
fsr-3177	80	8	(	(	PUNCT
fsr-3177	80	9	esma	esma	NOUN
fsr-3177	80	10	,	,	PUNCT
fsr-3177	80	11	2018	2018	NUM
fsr-3177	80	12	)	)	PUNCT
fsr-3177	80	13	,	,	PUNCT
fsr-3177	80	14	although	although	SCONJ
fsr-3177	80	15	guidance	guidance	NOUN
fsr-3177	80	16	is	be	AUX
fsr-3177	80	17	provided	provide	VERB
fsr-3177	80	18	by	by	ADP
fsr-3177	80	19	the	the	DET
fsr-3177	80	20	regulator	regulator	NOUN
fsr-3177	80	21	on	on	ADP
fsr-3177	80	22	accessing	access	VERB
fsr-3177	80	23	an	an	DET
fsr-3177	80	24	investor	investor	NOUN
fsr-3177	80	25	risk	risk	NOUN
fsr-3177	80	26	profile	profile	NOUN
fsr-3177	80	27	,	,	PUNCT
fsr-3177	80	28	there	there	PRON
fsr-3177	80	29	is	be	VERB
fsr-3177	80	30	no	no	DET
fsr-3177	80	31	prescribed	prescribed	ADJ
fsr-3177	80	32	risk	risk	NOUN
fsr-3177	80	33	-	-	PUNCT
fsr-3177	80	34	tolerance	tolerance	NOUN
fsr-3177	80	35	methodology	methodology	NOUN
fsr-3177	80	36	.	.	PUNCT
fsr-3177	81	1	we	we	PRON
fsr-3177	81	2	assume	assume	VERB
fsr-3177	81	3	valid	valid	ADJ
fsr-3177	81	4	and	and	CCONJ
fsr-3177	81	5	reliable	reliable	ADJ
fsr-3177	81	6	tests	test	NOUN
fsr-3177	81	7	would	would	AUX
fsr-3177	81	8	generally	generally	ADV
fsr-3177	81	9	categorize	categorize	VERB
fsr-3177	81	10	an	an	DET
fsr-3177	81	11	investor	investor	NOUN
fsr-3177	81	12	similarly	similarly	ADV
fsr-3177	81	13	(	(	PUNCT
fsr-3177	81	14	i.e.	i.e.	X
fsr-3177	81	15	,	,	PUNCT
fsr-3177	81	16	a	a	DET
fsr-3177	81	17	risk	risk	NOUN
fsr-3177	81	18	averse	averse	ADJ
fsr-3177	81	19	investor	investor	NOUN
fsr-3177	81	20	should	should	AUX
fsr-3177	81	21	be	be	AUX
fsr-3177	81	22	discernible	discernible	ADJ
fsr-3177	81	23	in	in	ADP
fsr-3177	81	24	any	any	DET
fsr-3177	81	25	valid	valid	ADJ
fsr-3177	81	26	and	and	CCONJ
fsr-3177	81	27	reliable	reliable	ADJ
fsr-3177	81	28	methodology	methodology	NOUN
fsr-3177	81	29	and	and	CCONJ
fsr-3177	81	30	a	a	DET
fsr-3177	81	31	high	high	ADJ
fsr-3177	81	32	-	-	PUNCT
fsr-3177	81	33	risk	risk	NOUN
fsr-3177	81	34	taking	take	VERB
fsr-3177	81	35	investor	investor	NOUN
fsr-3177	81	36	should	should	AUX
fsr-3177	81	37	be	be	AUX
fsr-3177	81	38	equally	equally	ADV
fsr-3177	81	39	as	as	ADV
fsr-3177	81	40	discernible	discernible	ADJ
fsr-3177	81	41	)	)	PUNCT
fsr-3177	81	42	,	,	PUNCT
fsr-3177	81	43	hence	hence	ADV
fsr-3177	81	44	the	the	DET
fsr-3177	81	45	individual	individual	ADJ
fsr-3177	81	46	risk	risk	NOUN
fsr-3177	81	47	tolerance	tolerance	NOUN
fsr-3177	81	48	assessment	assessment	NOUN
fsr-3177	81	49	is	be	AUX
fsr-3177	81	50	outside	outside	ADP
fsr-3177	81	51	financial	financial	ADJ
fsr-3177	81	52	services	service	NOUN
fsr-3177	81	53	review	review	NOUN
fsr-3177	81	54	,	,	PUNCT
fsr-3177	81	55	31(4	31(4	NUM
fsr-3177	81	56	)	)	PUNCT
fsr-3177	81	57	250	250	NUM
fsr-3177	81	58	of	of	ADP
fsr-3177	81	59	the	the	DET
fsr-3177	81	60	scope	scope	NOUN
fsr-3177	81	61	of	of	ADP
fsr-3177	81	62	this	this	DET
fsr-3177	81	63	paper	paper	NOUN
fsr-3177	81	64	.	.	PUNCT
fsr-3177	82	1	instead	instead	ADV
fsr-3177	82	2	,	,	PUNCT
fsr-3177	82	3	we	we	PRON
fsr-3177	82	4	use	use	VERB
fsr-3177	82	5	the	the	DET
fsr-3177	82	6	mapping	mapping	NOUN
fsr-3177	82	7	methodologies	methodology	NOUN
fsr-3177	82	8	to	to	PART
fsr-3177	82	9	categorize	categorize	VERB
fsr-3177	82	10	the	the	DET
fsr-3177	82	11	seven	seven	NUM
fsr-3177	82	12	portfolios	portfolio	NOUN
fsr-3177	82	13	/	/	SYM
fsr-3177	82	14	products	product	NOUN
fsr-3177	82	15	to	to	PART
fsr-3177	82	16	determine	determine	VERB
fsr-3177	82	17	if	if	SCONJ
fsr-3177	82	18	they	they	PRON
fsr-3177	82	19	are	be	AUX
fsr-3177	82	20	considered	consider	VERB
fsr-3177	82	21	suitable	suitable	ADJ
fsr-3177	82	22	for	for	ADP
fsr-3177	82	23	the	the	DET
fsr-3177	82	24	same	same	ADJ
fsr-3177	82	25	risk	risk	NOUN
fsr-3177	82	26	level	level	NOUN
fsr-3177	82	27	of	of	ADP
fsr-3177	82	28	investors	investor	NOUN
fsr-3177	82	29	.	.	PUNCT
fsr-3177	83	1	mapping	mapping	NOUN
fsr-3177	83	2	methodologies	methodologie	VERB
fsr-3177	83	3	the	the	DET
fsr-3177	83	4	following	follow	VERB
fsr-3177	83	5	mapping	mapping	NOUN
fsr-3177	83	6	methodologies	methodology	NOUN
fsr-3177	83	7	were	be	AUX
fsr-3177	83	8	tested	test	VERB
fsr-3177	83	9	:	:	PUNCT
fsr-3177	83	10	a	a	DET
fsr-3177	83	11	mapping	mapping	NOUN
fsr-3177	83	12	system	system	NOUN
fsr-3177	83	13	based	base	VERB
fsr-3177	83	14	on	on	ADP
fsr-3177	83	15	davey	davey	NOUN
fsr-3177	83	16	(	(	PUNCT
fsr-3177	83	17	2015	2015	NUM
fsr-3177	83	18	)	)	PUNCT
fsr-3177	83	19	using	use	VERB
fsr-3177	83	20	available	available	ADJ
fsr-3177	83	21	finametrica	finametrica	PROPN
fsr-3177	83	22	data	datum	NOUN
fsr-3177	83	23	of	of	ADP
fsr-3177	83	24	“	"	PUNCT
fsr-3177	83	25	behavioural	behavioural	ADJ
fsr-3177	83	26	expectation	expectation	NOUN
fsr-3177	83	27	”	"	PUNCT
fsr-3177	83	28	of	of	ADP
fsr-3177	83	29	how	how	SCONJ
fsr-3177	83	30	much	much	ADJ
fsr-3177	83	31	equity	equity	NOUN
fsr-3177	83	32	/	/	SYM
fsr-3177	83	33	growth	growth	NOUN
fsr-3177	83	34	investments	investment	NOUN
fsr-3177	83	35	a	a	DET
fsr-3177	83	36	consumer	consumer	NOUN
fsr-3177	83	37	“	"	PUNCT
fsr-3177	83	38	expects	expect	VERB
fsr-3177	83	39	to	to	PART
fsr-3177	83	40	hold	hold	VERB
fsr-3177	83	41	”	"	PUNCT
fsr-3177	83	42	in	in	ADP
fsr-3177	83	43	their	their	PRON
fsr-3177	83	44	portfolio	portfolio	NOUN
fsr-3177	83	45	.	.	PUNCT
fsr-3177	84	1	a	a	DET
fsr-3177	84	2	secondary	secondary	ADJ
fsr-3177	84	3	mapping	mapping	NOUN
fsr-3177	84	4	methodology	methodology	NOUN
fsr-3177	84	5	based	base	VERB
fsr-3177	84	6	on	on	ADP
fsr-3177	84	7	davey	davey	NOUN
fsr-3177	84	8	(	(	PUNCT
fsr-3177	84	9	2015	2015	NUM
fsr-3177	84	10	)	)	PUNCT
fsr-3177	84	11	data	datum	NOUN
fsr-3177	84	12	of	of	ADP
fsr-3177	84	13	“	"	PUNCT
fsr-3177	84	14	behavioural	behavioural	ADJ
fsr-3177	84	15	expectation	expectation	NOUN
fsr-3177	84	16	”	"	PUNCT
fsr-3177	84	17	of	of	ADP
fsr-3177	84	18	the	the	DET
fsr-3177	84	19	largest	large	ADJ
fsr-3177	84	20	drop	drop	NOUN
fsr-3177	84	21	in	in	ADP
fsr-3177	84	22	value	value	NOUN
fsr-3177	84	23	a	a	DET
fsr-3177	84	24	consumer	consumer	NOUN
fsr-3177	84	25	would	would	AUX
fsr-3177	84	26	expect	expect	VERB
fsr-3177	84	27	in	in	ADP
fsr-3177	84	28	their	their	PRON
fsr-3177	84	29	portfolio	portfolio	NOUN
fsr-3177	84	30	(	(	PUNCT
fsr-3177	84	31	i.e.	i.e.	X
fsr-3177	84	32	,	,	PUNCT
fsr-3177	84	33	downside	downside	ADJ
fsr-3177	84	34	risk	risk	NOUN
fsr-3177	84	35	/	/	SYM
fsr-3177	84	36	var	var	NOUN
fsr-3177	84	37	)	)	PUNCT
fsr-3177	84	38	.	.	PUNCT
fsr-3177	85	1	a	a	DET
fsr-3177	85	2	mapping	mapping	NOUN
fsr-3177	85	3	approach	approach	NOUN
fsr-3177	85	4	based	base	VERB
fsr-3177	85	5	on	on	ADP
fsr-3177	85	6	the	the	DET
fsr-3177	85	7	standard	standard	ADJ
fsr-3177	85	8	deviations	deviation	NOUN
fsr-3177	85	9	of	of	ADP
fsr-3177	85	10	portfolio	portfolio	NOUN
fsr-3177	85	11	/	/	SYM
fsr-3177	85	12	products	product	NOUN
fsr-3177	85	13	based	base	VERB
fsr-3177	85	14	on	on	ADP
fsr-3177	85	15	fiveyear	fiveyear	PROPN
fsr-3177	85	16	historical	historical	ADJ
fsr-3177	85	17	data	datum	NOUN
fsr-3177	85	18	,	,	PUNCT
fsr-3177	85	19	which	which	PRON
fsr-3177	85	20	is	be	AUX
fsr-3177	85	21	more	more	ADJ
fsr-3177	85	22	in	in	ADP
fsr-3177	85	23	line	line	NOUN
fsr-3177	85	24	with	with	ADP
fsr-3177	85	25	stated	state	VERB
fsr-3177	85	26	requirements	requirement	NOUN
fsr-3177	85	27	by	by	ADP
fsr-3177	85	28	some	some	DET
fsr-3177	85	29	regulators	regulator	NOUN
fsr-3177	85	30	(	(	PUNCT
fsr-3177	85	31	mifidii	mifidii	NOUN
fsr-3177	85	32	in	in	ADP
fsr-3177	85	33	europe	europe	PROPN
fsr-3177	85	34	in	in	ADP
fsr-3177	85	35	particular	particular	ADJ
fsr-3177	85	36	)	)	PUNCT
fsr-3177	85	37	when	when	SCONJ
fsr-3177	85	38	measuring	measure	VERB
fsr-3177	85	39	product	product	NOUN
fsr-3177	85	40	risk	risk	NOUN
fsr-3177	85	41	.	.	PUNCT
fsr-3177	86	1	a	a	DET
fsr-3177	86	2	mapping	mapping	NOUN
fsr-3177	86	3	methodology	methodology	NOUN
fsr-3177	86	4	based	base	VERB
fsr-3177	86	5	on	on	ADP
fsr-3177	86	6	riskcat	riskcat	NOUN
fsr-3177	86	7	,	,	PUNCT
fsr-3177	86	8	outlined	outline	VERB
fsr-3177	86	9	by	by	ADP
fsr-3177	86	10	grable	grable	PROPN
fsr-3177	86	11	(	(	PUNCT
fsr-3177	86	12	2008	2008	NUM
fsr-3177	86	13	)	)	PUNCT
fsr-3177	86	14	that	that	PRON
fsr-3177	86	15	relates	relate	VERB
fsr-3177	86	16	an	an	DET
fsr-3177	86	17	overall	overall	ADJ
fsr-3177	86	18	profile	profile	NOUN
fsr-3177	86	19	score	score	NOUN
fsr-3177	86	20	to	to	ADP
fsr-3177	86	21	a	a	DET
fsr-3177	86	22	product	product	NOUN
fsr-3177	86	23	risk	risk	NOUN
fsr-3177	86	24	index	index	NOUN
fsr-3177	86	25	pegged	peg	VERB
fsr-3177	86	26	against	against	ADP
fsr-3177	86	27	u.s	u.s	PROPN
fsr-3177	86	28	.	.	PROPN
fsr-3177	86	29	large	large	ADJ
fsr-3177	86	30	and	and	CCONJ
fsr-3177	86	31	small	small	ADJ
fsr-3177	86	32	cap	cap	NOUN
fsr-3177	86	33	equities	equity	NOUN
fsr-3177	86	34	using	use	VERB
fsr-3177	86	35	var	var	NOUN
fsr-3177	86	36	.	.	PUNCT
fsr-3177	87	1	to	to	PART
fsr-3177	87	2	allow	allow	VERB
fsr-3177	87	3	an	an	DET
fsr-3177	87	4	effective	effective	ADJ
fsr-3177	87	5	comparison	comparison	NOUN
fsr-3177	87	6	between	between	ADP
fsr-3177	87	7	approaches	approach	NOUN
fsr-3177	87	8	we	we	PRON
fsr-3177	87	9	defined	define	VERB
fsr-3177	87	10	a	a	DET
fsr-3177	87	11	common	common	ADJ
fsr-3177	87	12	framing	framing	NOUN
fsr-3177	87	13	or	or	CCONJ
fsr-3177	87	14	distribution	distribution	NOUN
fsr-3177	87	15	of	of	ADP
fsr-3177	87	16	risk	risk	NOUN
fsr-3177	87	17	profiles	profile	NOUN
fsr-3177	87	18	.	.	PUNCT
fsr-3177	88	1	both	both	CCONJ
fsr-3177	88	2	finametrica	finametrica	ADJ
fsr-3177	88	3	and	and	CCONJ
fsr-3177	88	4	mifid	mifid	ADJ
fsr-3177	88	5	-	-	PUNCT
fsr-3177	88	6	ii	ii	NOUN
fsr-3177	88	7	utilize	utilize	VERB
fsr-3177	88	8	seven	seven	NUM
fsr-3177	88	9	risk	risk	NOUN
fsr-3177	88	10	bands	band	NOUN
fsr-3177	88	11	,	,	PUNCT
fsr-3177	88	12	so	so	ADV
fsr-3177	88	13	we	we	PRON
fsr-3177	88	14	used	use	VERB
fsr-3177	88	15	this	this	PRON
fsr-3177	88	16	as	as	ADP
fsr-3177	88	17	the	the	DET
fsr-3177	88	18	basis	basis	NOUN
fsr-3177	88	19	.	.	PUNCT
fsr-3177	89	1	when	when	SCONJ
fsr-3177	89	2	evaluating	evaluate	VERB
fsr-3177	89	3	the	the	DET
fsr-3177	89	4	results	result	NOUN
fsr-3177	89	5	,	,	PUNCT
fsr-3177	89	6	it	it	PRON
fsr-3177	89	7	is	be	AUX
fsr-3177	89	8	important	important	ADJ
fsr-3177	89	9	to	to	PART
fsr-3177	89	10	note	note	VERB
fsr-3177	89	11	the	the	DET
fsr-3177	89	12	following	follow	VERB
fsr-3177	89	13	scoring	scoring	NOUN
fsr-3177	89	14	methodologies	methodology	NOUN
fsr-3177	89	15	:	:	PUNCT
fsr-3177	89	16	finametrica	finametrica	PROPN
fsr-3177	89	17	uses	use	VERB
fsr-3177	89	18	a	a	DET
fsr-3177	89	19	0	0	NUM
fsr-3177	89	20	to	to	PART
fsr-3177	89	21	100	100	NUM
fsr-3177	89	22	risk	risk	NOUN
fsr-3177	89	23	-	-	PUNCT
fsr-3177	89	24	tolerance	tolerance	NOUN
fsr-3177	89	25	score	score	NOUN
fsr-3177	89	26	,	,	PUNCT
fsr-3177	89	27	which	which	PRON
fsr-3177	89	28	is	be	AUX
fsr-3177	89	29	mapped	map	VERB
fsr-3177	89	30	into	into	ADP
fsr-3177	89	31	seven	seven	NUM
fsr-3177	89	32	risk	risk	NOUN
fsr-3177	89	33	profile	profile	NOUN
fsr-3177	89	34	groupings	grouping	NOUN
fsr-3177	89	35	based	base	VERB
fsr-3177	89	36	on	on	ADP
fsr-3177	89	37	the	the	DET
fsr-3177	89	38	standard	standard	ADJ
fsr-3177	89	39	deviation	deviation	NOUN
fsr-3177	89	40	of	of	ADP
fsr-3177	89	41	score	score	NOUN
fsr-3177	89	42	distribution	distribution	NOUN
fsr-3177	89	43	.	.	PUNCT
fsr-3177	90	1	mifid	mifid	ADJ
fsr-3177	90	2	-	-	PUNCT
fsr-3177	90	3	ii	ii	NOUN
fsr-3177	90	4	uses	use	VERB
fsr-3177	90	5	seven	seven	NUM
fsr-3177	90	6	risk	risk	NOUN
fsr-3177	90	7	bands	band	NOUN
fsr-3177	90	8	defined	define	VERB
fsr-3177	90	9	by	by	ADP
fsr-3177	90	10	prescribed	prescribed	ADJ
fsr-3177	90	11	thresholds	threshold	NOUN
fsr-3177	90	12	of	of	ADP
fsr-3177	90	13	standard	standard	ADJ
fsr-3177	90	14	deviations	deviation	NOUN
fsr-3177	90	15	of	of	ADP
fsr-3177	90	16	the	the	DET
fsr-3177	90	17	products	product	NOUN
fsr-3177	90	18	.	.	PUNCT
fsr-3177	91	1	riskcat	riskcat	NOUN
fsr-3177	91	2	uses	use	VERB
fsr-3177	91	3	a	a	DET
fsr-3177	91	4	0	0	NUM
fsr-3177	91	5	to	to	ADP
fsr-3177	91	6	2.5	2.5	NUM
fsr-3177	91	7	scale	scale	NOUN
fsr-3177	91	8	which	which	PRON
fsr-3177	91	9	we	we	PRON
fsr-3177	91	10	mapped	map	VERB
fsr-3177	91	11	into	into	ADP
fsr-3177	91	12	seven	seven	NUM
fsr-3177	91	13	evenly	evenly	ADV
fsr-3177	91	14	distributed	distribute	VERB
fsr-3177	91	15	bands	band	NOUN
fsr-3177	91	16	for	for	ADP
fsr-3177	91	17	consistency	consistency	NOUN
fsr-3177	91	18	.	.	PUNCT
fsr-3177	92	1	risk	risk	NOUN
fsr-3177	92	2	tolerance	tolerance	NOUN
fsr-3177	92	3	in	in	ADP
fsr-3177	92	4	the	the	DET
fsr-3177	92	5	population	population	NOUN
fsr-3177	92	6	is	be	AUX
fsr-3177	92	7	accepted	accept	VERB
fsr-3177	92	8	as	as	ADP
fsr-3177	92	9	being	be	AUX
fsr-3177	92	10	normally	normally	ADV
fsr-3177	92	11	distribution	distribution	NOUN
fsr-3177	92	12	(	(	PUNCT
fsr-3177	92	13	like	like	ADP
fsr-3177	92	14	i.q	i.q	PROPN
fsr-3177	92	15	.	.	PROPN
fsr-3177	92	16	)	)	PUNCT
fsr-3177	92	17	.	.	PUNCT
fsr-3177	93	1	in	in	ADP
fsr-3177	93	2	most	most	ADJ
fsr-3177	93	3	profiling	profiling	ADJ
fsr-3177	93	4	approaches	approach	NOUN
fsr-3177	93	5	this	this	DET
fsr-3177	93	6	attribute	attribute	NOUN
fsr-3177	93	7	may	may	AUX
fsr-3177	93	8	then	then	ADV
fsr-3177	93	9	be	be	AUX
fsr-3177	93	10	constrained	constrain	VERB
fsr-3177	93	11	or	or	CCONJ
fsr-3177	93	12	reduced	reduce	VERB
fsr-3177	93	13	by	by	ADP
fsr-3177	93	14	other	other	ADJ
fsr-3177	93	15	factors	factor	NOUN
fsr-3177	93	16	when	when	SCONJ
fsr-3177	93	17	arriving	arrive	VERB
fsr-3177	93	18	at	at	ADP
fsr-3177	93	19	a	a	DET
fsr-3177	93	20	final	final	ADJ
fsr-3177	93	21	risk	risk	NOUN
fsr-3177	93	22	profile	profile	NOUN
fsr-3177	93	23	.	.	PUNCT
fsr-3177	94	1	as	as	ADP
fsr-3177	94	2	an	an	DET
fsr-3177	94	3	example	example	NOUN
fsr-3177	94	4	,	,	PUNCT
fsr-3177	94	5	short	short	ADJ
fsr-3177	94	6	time	time	NOUN
fsr-3177	94	7	horizons	horizon	NOUN
fsr-3177	94	8	or	or	CCONJ
fsr-3177	94	9	reduced	reduce	VERB
fsr-3177	94	10	risk	risk	NOUN
fsr-3177	94	11	capacity	capacity	NOUN
fsr-3177	94	12	might	might	AUX
fsr-3177	94	13	indicate	indicate	VERB
fsr-3177	94	14	that	that	SCONJ
fsr-3177	94	15	a	a	DET
fsr-3177	94	16	high	high	ADJ
fsr-3177	94	17	tolerance	tolerance	NOUN
fsr-3177	94	18	investor	investor	NOUN
fsr-3177	94	19	should	should	AUX
fsr-3177	94	20	still	still	ADV
fsr-3177	94	21	take	take	VERB
fsr-3177	94	22	lower	low	ADJ
fsr-3177	94	23	levels	level	NOUN
fsr-3177	94	24	of	of	ADP
fsr-3177	94	25	risk	risk	NOUN
fsr-3177	94	26	when	when	SCONJ
fsr-3177	94	27	investing	investing	NOUN
fsr-3177	94	28	,	,	PUNCT
fsr-3177	94	29	as	as	SCONJ
fsr-3177	94	30	they	they	PRON
fsr-3177	94	31	do	do	AUX
fsr-3177	94	32	not	not	PART
fsr-3177	94	33	have	have	VERB
fsr-3177	94	34	the	the	DET
fsr-3177	94	35	time	time	NOUN
fsr-3177	94	36	to	to	PART
fsr-3177	94	37	recover	recover	VERB
fsr-3177	94	38	or	or	CCONJ
fsr-3177	94	39	other	other	ADJ
fsr-3177	94	40	resources	resource	NOUN
fsr-3177	94	41	to	to	PART
fsr-3177	94	42	rely	rely	VERB
fsr-3177	94	43	on	on	ADP
fsr-3177	94	44	in	in	ADP
fsr-3177	94	45	the	the	DET
fsr-3177	94	46	event	event	NOUN
fsr-3177	94	47	of	of	ADP
fsr-3177	94	48	bad	bad	ADJ
fsr-3177	94	49	outcomes	outcome	NOUN
fsr-3177	94	50	.	.	PUNCT
fsr-3177	95	1	for	for	ADP
fsr-3177	95	2	this	this	DET
fsr-3177	95	3	study	study	NOUN
fsr-3177	95	4	,	,	PUNCT
fsr-3177	95	5	we	we	PRON
fsr-3177	95	6	considered	consider	VERB
fsr-3177	95	7	the	the	DET
fsr-3177	95	8	investor	investor	NOUN
fsr-3177	95	9	as	as	ADP
fsr-3177	95	10	“	"	PUNCT
fsr-3177	95	11	unconstrained	unconstraine	VERB
fsr-3177	95	12	”	"	PUNCT
fsr-3177	95	13	.	.	PUNCT
fsr-3177	96	1	for	for	ADP
fsr-3177	96	2	each	each	DET
fsr-3177	96	3	methodology	methodology	NOUN
fsr-3177	96	4	we	we	PRON
fsr-3177	96	5	took	take	VERB
fsr-3177	96	6	the	the	DET
fsr-3177	96	7	seven	seven	NUM
fsr-3177	96	8	benchmark	benchmark	ADJ
fsr-3177	96	9	portfolios	portfolio	NOUN
fsr-3177	96	10	defined	define	VERB
fsr-3177	96	11	for	for	ADP
fsr-3177	96	12	each	each	DET
fsr-3177	96	13	market	market	NOUN
fsr-3177	96	14	and	and	CCONJ
fsr-3177	96	15	compared	compare	VERB
fsr-3177	96	16	which	which	DET
fsr-3177	96	17	risk	risk	NOUN
fsr-3177	96	18	band	band	NOUN
fsr-3177	96	19	each	each	DET
fsr-3177	96	20	methodology	methodology	NOUN
fsr-3177	96	21	assigns	assign	VERB
fsr-3177	96	22	them	they	PRON
fsr-3177	96	23	to	to	ADP
fsr-3177	96	24	.	.	PUNCT
fsr-3177	97	1	we	we	PRON
fsr-3177	97	2	acknowledge	acknowledge	VERB
fsr-3177	97	3	that	that	SCONJ
fsr-3177	97	4	in	in	ADP
fsr-3177	97	5	doing	do	VERB
fsr-3177	97	6	this	this	PRON
fsr-3177	97	7	that	that	SCONJ
fsr-3177	97	8	although	although	SCONJ
fsr-3177	97	9	each	each	DET
fsr-3177	97	10	methodology	methodology	NOUN
fsr-3177	97	11	may	may	AUX
fsr-3177	97	12	have	have	VERB
fsr-3177	97	13	seven	seven	NUM
fsr-3177	97	14	bands	band	NOUN
fsr-3177	97	15	,	,	PUNCT
fsr-3177	97	16	the	the	DET
fsr-3177	97	17	breakpoints	breakpoint	NOUN
fsr-3177	97	18	for	for	ADP
fsr-3177	97	19	each	each	DET
fsr-3177	97	20	band	band	NOUN
fsr-3177	97	21	may	may	AUX
fsr-3177	97	22	vary	vary	VERB
fsr-3177	97	23	since	since	SCONJ
fsr-3177	97	24	the	the	DET
fsr-3177	97	25	finametrica	finametrica	PROPN
fsr-3177	97	26	approach	approach	NOUN
fsr-3177	97	27	is	be	AUX
fsr-3177	97	28	distributed	distribute	VERB
fsr-3177	97	29	by	by	ADP
fsr-3177	97	30	population	population	NOUN
fsr-3177	97	31	,	,	PUNCT
fsr-3177	97	32	mifid	mifid	NOUN
fsr-3177	97	33	-	-	PUNCT
fsr-3177	97	34	ii	ii	NOUN
fsr-3177	97	35	by	by	ADP
fsr-3177	97	36	a	a	DET
fsr-3177	97	37	product	product	NOUN
fsr-3177	97	38	risk	risk	NOUN
fsr-3177	97	39	range	range	NOUN
fsr-3177	97	40	,	,	PUNCT
fsr-3177	97	41	and	and	CCONJ
fsr-3177	97	42	riskcat	riskcat	NOUN
fsr-3177	97	43	scores	score	NOUN
fsr-3177	97	44	evenly	evenly	ADV
fsr-3177	97	45	.	.	PUNCT
fsr-3177	98	1	analysis	analysis	NOUN
fsr-3177	98	2	of	of	ADP
fsr-3177	98	3	portfolios	portfolio	NOUN
fsr-3177	98	4	by	by	ADP
fsr-3177	98	5	risk	risk	NOUN
fsr-3177	98	6	or	or	CCONJ
fsr-3177	98	7	return	return	NOUN
fsr-3177	98	8	we	we	PRON
fsr-3177	98	9	used	use	VERB
fsr-3177	98	10	long	long	ADJ
fsr-3177	98	11	-	-	PUNCT
fsr-3177	98	12	term	term	NOUN
fsr-3177	98	13	asset	asset	NOUN
fsr-3177	98	14	allocation	allocation	NOUN
fsr-3177	98	15	data	datum	NOUN
fsr-3177	98	16	from	from	ADP
fsr-3177	98	17	four	four	NUM
fsr-3177	98	18	countries	country	NOUN
fsr-3177	98	19	(	(	PUNCT
fsr-3177	98	20	i.e.	i.e.	X
fsr-3177	98	21	,	,	PUNCT
fsr-3177	98	22	australia	australia	PROPN
fsr-3177	98	23	,	,	PUNCT
fsr-3177	98	24	canada	canada	PROPN
fsr-3177	98	25	,	,	PUNCT
fsr-3177	98	26	the	the	DET
fsr-3177	98	27	united	united	ADJ
fsr-3177	98	28	kingdom	kingdom	PROPN
fsr-3177	98	29	,	,	PUNCT
fsr-3177	98	30	and	and	CCONJ
fsr-3177	98	31	the	the	DET
fsr-3177	98	32	united	united	PROPN
fsr-3177	98	33	states	states	PROPN
fsr-3177	98	34	)	)	PUNCT
fsr-3177	98	35	.	.	PUNCT
fsr-3177	99	1	data	datum	NOUN
fsr-3177	99	2	varied	varied	ADJ
fsr-3177	99	3	from	from	ADP
fsr-3177	99	4	44	44	NUM
fsr-3177	99	5	to	to	PART
fsr-3177	99	6	73	73	NUM
fsr-3177	99	7	years	year	NOUN
fsr-3177	99	8	ending	end	VERB
fsr-3177	99	9	in	in	ADP
fsr-3177	99	10	2022	2022	NUM
fsr-3177	99	11	.	.	PUNCT
fsr-3177	100	1	we	we	PRON
fsr-3177	100	2	used	use	VERB
fsr-3177	100	3	five	five	NUM
fsr-3177	100	4	asset	asset	NOUN
fsr-3177	100	5	classes	class	NOUN
fsr-3177	100	6	for	for	ADP
fsr-3177	100	7	each	each	DET
fsr-3177	100	8	country	country	NOUN
fsr-3177	100	9	:	:	PUNCT
fsr-3177	100	10	(	(	PUNCT
fsr-3177	100	11	a	a	X
fsr-3177	100	12	)	)	PUNCT
fsr-3177	100	13	cash	cash	NOUN
fsr-3177	100	14	,	,	PUNCT
fsr-3177	100	15	(	(	PUNCT
fsr-3177	100	16	b	b	X
fsr-3177	100	17	)	)	PUNCT
fsr-3177	100	18	domestic	domestic	ADJ
fsr-3177	100	19	fixed	fix	VERB
fsr-3177	100	20	income	income	NOUN
fsr-3177	100	21	,	,	PUNCT
fsr-3177	100	22	(	(	PUNCT
fsr-3177	100	23	c	c	X
fsr-3177	100	24	)	)	PUNCT
fsr-3177	100	25	domestic	domestic	ADJ
fsr-3177	100	26	large	large	ADJ
fsr-3177	100	27	cap	cap	NOUN
fsr-3177	100	28	,	,	PUNCT
fsr-3177	100	29	(	(	PUNCT
fsr-3177	100	30	d	d	X
fsr-3177	100	31	)	)	PUNCT
fsr-3177	100	32	international	international	ADJ
fsr-3177	100	33	equity	equity	NOUN
fsr-3177	100	34	,	,	PUNCT
fsr-3177	100	35	and	and	CCONJ
fsr-3177	100	36	(	(	PUNCT
fsr-3177	100	37	e	e	NOUN
fsr-3177	100	38	)	)	PUNCT
fsr-3177	100	39	emerging	emerge	VERB
fsr-3177	100	40	markets	market	NOUN
fsr-3177	100	41	.	.	PUNCT
fsr-3177	101	1	due	due	ADP
fsr-3177	101	2	to	to	ADP
fsr-3177	101	3	short	short	ADJ
fsr-3177	101	4	data	datum	NOUN
fsr-3177	101	5	collection	collection	NOUN
fsr-3177	101	6	histories	history	NOUN
fsr-3177	101	7	,	,	PUNCT
fsr-3177	101	8	domestic	domestic	ADJ
fsr-3177	101	9	small	small	ADJ
fsr-3177	101	10	cap	cap	NOUN
fsr-3177	101	11	equities	equity	NOUN
fsr-3177	101	12	were	be	AUX
fsr-3177	101	13	not	not	PART
fsr-3177	101	14	utilized	utilize	VERB
fsr-3177	101	15	(	(	PUNCT
fsr-3177	101	16	see	see	VERB
fsr-3177	101	17	appendix	appendix	NOUN
fsr-3177	101	18	1	1	NUM
fsr-3177	101	19	for	for	ADP
fsr-3177	101	20	details	detail	NOUN
fsr-3177	101	21	)	)	PUNCT
fsr-3177	101	22	other	other	ADJ
fsr-3177	101	23	than	than	ADP
fsr-3177	101	24	in	in	ADP
fsr-3177	101	25	the	the	DET
fsr-3177	101	26	united	united	PROPN
fsr-3177	101	27	states	states	PROPN
fsr-3177	101	28	for	for	ADP
fsr-3177	101	29	the	the	DET
fsr-3177	101	30	calculation	calculation	NOUN
fsr-3177	101	31	of	of	ADP
fsr-3177	101	32	the	the	DET
fsr-3177	101	33	riskcat	riskcat	PROPN
fsr-3177	101	34	index	index	NOUN
fsr-3177	101	35	.	.	PUNCT
fsr-3177	102	1	using	use	VERB
fsr-3177	102	2	these	these	DET
fsr-3177	102	3	data	datum	NOUN
fsr-3177	102	4	,	,	PUNCT
fsr-3177	102	5	we	we	PRON
fsr-3177	102	6	used	use	VERB
fsr-3177	102	7	two	two	NUM
fsr-3177	102	8	approaches	approach	NOUN
fsr-3177	102	9	to	to	PART
fsr-3177	102	10	generate	generate	VERB
fsr-3177	102	11	a	a	DET
fsr-3177	102	12	series	series	NOUN
fsr-3177	102	13	of	of	ADP
fsr-3177	102	14	seven	seven	NUM
fsr-3177	102	15	portfolios	portfolio	NOUN
fsr-3177	102	16	along	along	ADP
fsr-3177	102	17	the	the	DET
fsr-3177	102	18	efficient	efficient	ADJ
fsr-3177	102	19	frontier	frontier	NOUN
fsr-3177	102	20	,	,	PUNCT
fsr-3177	102	21	based	base	VERB
fsr-3177	102	22	on	on	ADP
fsr-3177	102	23	even	even	ADV
fsr-3177	102	24	risk	risk	NOUN
fsr-3177	102	25	distribution	distribution	NOUN
fsr-3177	102	26	(	(	PUNCT
fsr-3177	102	27	figure	figure	NOUN
fsr-3177	102	28	2	2	NUM
fsr-3177	102	29	)	)	PUNCT
fsr-3177	102	30	and	and	CCONJ
fsr-3177	102	31	even	even	ADV
fsr-3177	102	32	return	return	VERB
fsr-3177	102	33	distributions	distribution	NOUN
fsr-3177	102	34	(	(	PUNCT
fsr-3177	102	35	figure	figure	NOUN
fsr-3177	102	36	1	1	NUM
fsr-3177	102	37	above	above	ADP
fsr-3177	102	38	)	)	PUNCT
fsr-3177	102	39	.	.	PUNCT
fsr-3177	103	1	for	for	ADP
fsr-3177	103	2	portfolios	portfolio	NOUN
fsr-3177	103	3	with	with	ADP
fsr-3177	103	4	an	an	DET
fsr-3177	103	5	even	even	ADJ
fsr-3177	103	6	risk	risk	NOUN
fsr-3177	103	7	distribution	distribution	NOUN
fsr-3177	103	8	,	,	PUNCT
fsr-3177	103	9	we	we	PRON
fsr-3177	103	10	defined	define	VERB
fsr-3177	103	11	the	the	DET
fsr-3177	103	12	risk	risk	NOUN
fsr-3177	103	13	range	range	NOUN
fsr-3177	103	14	for	for	ADP
fsr-3177	103	15	each	each	DET
fsr-3177	103	16	country	country	NOUN
fsr-3177	103	17	as	as	ADP
fsr-3177	103	18	difference	difference	NOUN
fsr-3177	103	19	between	between	ADP
fsr-3177	103	20	the	the	DET
fsr-3177	103	21	standard	standard	ADJ
fsr-3177	103	22	deviation	deviation	NOUN
fsr-3177	103	23	(	(	PUNCT
fsr-3177	103	24	sd	sd	NOUN
fsr-3177	103	25	)	)	PUNCT
fsr-3177	103	26	of	of	ADP
fsr-3177	103	27	the	the	DET
fsr-3177	103	28	most	most	ADV
fsr-3177	103	29	volatile	volatile	ADJ
fsr-3177	103	30	asset	asset	NOUN
fsr-3177	103	31	class	class	NOUN
fsr-3177	103	32	(	(	PUNCT
fsr-3177	103	33	emerging	emerge	VERB
fsr-3177	103	34	markets	market	NOUN
fsr-3177	103	35	)	)	PUNCT
fsr-3177	103	36	and	and	CCONJ
fsr-3177	103	37	the	the	DET
fsr-3177	103	38	sd	sd	NOUN
fsr-3177	103	39	of	of	ADP
fsr-3177	103	40	the	the	DET
fsr-3177	103	41	lowest	low	ADJ
fsr-3177	103	42	risk	risk	NOUN
fsr-3177	103	43	asset	asset	NOUN
fsr-3177	103	44	class	class	NOUN
fsr-3177	103	45	(	(	PUNCT
fsr-3177	103	46	cash	cash	NOUN
fsr-3177	103	47	)	)	PUNCT
fsr-3177	103	48	.	.	PUNCT
fsr-3177	104	1	similarly	similarly	ADV
fsr-3177	104	2	,	,	PUNCT
fsr-3177	104	3	the	the	DET
fsr-3177	104	4	return	return	NOUN
fsr-3177	104	5	range	range	NOUN
fsr-3177	104	6	was	be	AUX
fsr-3177	104	7	difference	difference	NOUN
fsr-3177	104	8	between	between	ADP
fsr-3177	104	9	the	the	DET
fsr-3177	104	10	highest	high	ADJ
fsr-3177	104	11	return	return	NOUN
fsr-3177	104	12	asset	asset	NOUN
fsr-3177	104	13	class	class	NOUN
fsr-3177	104	14	(	(	PUNCT
fsr-3177	104	15	emerging	emerge	VERB
fsr-3177	104	16	markets	market	NOUN
fsr-3177	104	17	)	)	PUNCT
fsr-3177	104	18	and	and	CCONJ
fsr-3177	104	19	lowest	low	ADJ
fsr-3177	104	20	return	return	NOUN
fsr-3177	104	21	asset	asset	NOUN
fsr-3177	104	22	class	class	NOUN
fsr-3177	104	23	(	(	PUNCT
fsr-3177	104	24	cash	cash	NOUN
fsr-3177	104	25	)	)	PUNCT
fsr-3177	104	26	.	.	PUNCT
fsr-3177	105	1	target	target	NOUN
fsr-3177	105	2	risks	risk	NOUN
fsr-3177	105	3	levels	level	NOUN
fsr-3177	105	4	for	for	ADP
fsr-3177	105	5	the	the	DET
fsr-3177	105	6	seven	seven	NUM
fsr-3177	105	7	efficient	efficient	ADJ
fsr-3177	105	8	portfolios	portfolio	NOUN
fsr-3177	105	9	distributed	distribute	VERB
fsr-3177	105	10	evenly	evenly	ADV
fsr-3177	105	11	by	by	ADP
fsr-3177	105	12	levels	level	NOUN
fsr-3177	105	13	of	of	ADP
fsr-3177	105	14	risk	risk	NOUN
fsr-3177	105	15	brayman	brayman	NOUN
fsr-3177	105	16	et	et	PROPN
fsr-3177	105	17	al	al	PROPN
fsr-3177	105	18	.	.	PROPN
fsr-3177	105	19	251	251	NUM
fsr-3177	105	20	were	be	AUX
fsr-3177	105	21	generated	generate	VERB
fsr-3177	105	22	by	by	ADP
fsr-3177	105	23	taking	take	VERB
fsr-3177	105	24	standard	standard	ADJ
fsr-3177	105	25	deviation	deviation	NOUN
fsr-3177	105	26	of	of	ADP
fsr-3177	105	27	cash	cash	NOUN
fsr-3177	105	28	plus	plus	CCONJ
fsr-3177	105	29	risk	risk	NOUN
fsr-3177	105	30	range/14	range/14	NOUN
fsr-3177	105	31	for	for	ADP
fsr-3177	105	32	portfolio	portfolio	NOUN
fsr-3177	105	33	1	1	NUM
fsr-3177	105	34	,	,	PUNCT
fsr-3177	105	35	then	then	ADV
fsr-3177	105	36	adding	add	VERB
fsr-3177	105	37	risk	risk	NOUN
fsr-3177	105	38	range/7	range/7	PROPN
fsr-3177	105	39	for	for	ADP
fsr-3177	105	40	portfolios	portfolio	NOUN
fsr-3177	105	41	2	2	NUM
fsr-3177	105	42	to	to	ADP
fsr-3177	105	43	7	7	NUM
fsr-3177	105	44	.	.	PUNCT
fsr-3177	106	1	as	as	ADP
fsr-3177	106	2	an	an	DET
fsr-3177	106	3	example	example	NOUN
fsr-3177	106	4	,	,	PUNCT
fsr-3177	106	5	for	for	ADP
fsr-3177	106	6	the	the	DET
fsr-3177	106	7	u.s	u.s	PROPN
fsr-3177	106	8	.	.	PROPN
fsr-3177	106	9	(	(	PUNCT
fsr-3177	106	10	appendix	appendix	NOUN
fsr-3177	106	11	1	1	NUM
fsr-3177	106	12	)	)	PUNCT
fsr-3177	106	13	cash	cash	NOUN
fsr-3177	106	14	has	have	VERB
fsr-3177	106	15	standard	standard	ADJ
fsr-3177	106	16	deviation	deviation	NOUN
fsr-3177	106	17	of	of	ADP
fsr-3177	106	18	+	+	NOUN
fsr-3177	106	19	/3.82	/3.82	NOUN
fsr-3177	106	20	while	while	SCONJ
fsr-3177	106	21	emerging	emerge	VERB
fsr-3177	106	22	markets	market	NOUN
fsr-3177	106	23	have	have	VERB
fsr-3177	106	24	a	a	DET
fsr-3177	106	25	standard	standard	ADJ
fsr-3177	106	26	deviation	deviation	NOUN
fsr-3177	106	27	of	of	ADP
fsr-3177	106	28	33.11	33.11	NUM
fsr-3177	106	29	,	,	PUNCT
fsr-3177	106	30	so	so	ADV
fsr-3177	106	31	:	:	PUNCT
fsr-3177	106	32	sd	sd	ADP
fsr-3177	106	33	portfolio	portfolio	NOUN
fsr-3177	106	34	1	1	NUM
fsr-3177	106	35	=	=	SYM
fsr-3177	106	36	3.82	3.82	NUM
fsr-3177	106	37	+	+	CCONJ
fsr-3177	106	38	(	(	PUNCT
fsr-3177	106	39	33.11	33.11	NUM
fsr-3177	106	40	-	-	PUNCT
fsr-3177	106	41	3.82)/14	3.82)/14	NUM
fsr-3177	106	42	=	=	SYM
fsr-3177	106	43	5.91	5.91	NUM
fsr-3177	106	44	sd	sd	ADP
fsr-3177	106	45	portfolio	portfolio	NOUN
fsr-3177	106	46	2	2	NUM
fsr-3177	106	47	=	=	SYM
fsr-3177	106	48	5.91	5.91	NUM
fsr-3177	106	49	+	+	CCONJ
fsr-3177	106	50	(	(	PUNCT
fsr-3177	106	51	33.11	33.11	NUM
fsr-3177	106	52	-	-	PUNCT
fsr-3177	106	53	3.82)/7	3.82)/7	NUM
fsr-3177	106	54	=	=	SYM
fsr-3177	106	55	10.1	10.1	NUM
fsr-3177	106	56	,	,	PUNCT
fsr-3177	106	57	etc	etc	X
fsr-3177	106	58	.	.	X
fsr-3177	106	59	for	for	ADP
fsr-3177	106	60	each	each	PRON
fsr-3177	106	61	of	of	ADP
fsr-3177	106	62	the	the	DET
fsr-3177	106	63	target	target	NOUN
fsr-3177	106	64	risks	risk	NOUN
fsr-3177	106	65	we	we	PRON
fsr-3177	106	66	solved	solve	VERB
fsr-3177	106	67	for	for	ADP
fsr-3177	106	68	the	the	DET
fsr-3177	106	69	efficient	efficient	ADJ
fsr-3177	106	70	portfolio	portfolio	NOUN
fsr-3177	106	71	and	and	CCONJ
fsr-3177	106	72	resulting	result	VERB
fsr-3177	106	73	asset	asset	NOUN
fsr-3177	106	74	allocation	allocation	NOUN
fsr-3177	106	75	,	,	PUNCT
fsr-3177	106	76	expected	expect	VERB
fsr-3177	106	77	return	return	NOUN
fsr-3177	106	78	,	,	PUNCT
fsr-3177	106	79	standard	standard	ADJ
fsr-3177	106	80	deviation	deviation	NOUN
fsr-3177	106	81	,	,	PUNCT
fsr-3177	106	82	and	and	CCONJ
fsr-3177	106	83	value	value	NOUN
fsr-3177	106	84	at	at	ADP
fsr-3177	106	85	risk	risk	NOUN
fsr-3177	106	86	.	.	PUNCT
fsr-3177	107	1	we	we	PRON
fsr-3177	107	2	repeated	repeat	VERB
fsr-3177	107	3	the	the	DET
fsr-3177	107	4	process	process	NOUN
fsr-3177	107	5	but	but	CCONJ
fsr-3177	107	6	with	with	ADP
fsr-3177	107	7	evenly	evenly	ADV
fsr-3177	107	8	distributed	distribute	VERB
fsr-3177	107	9	returns	return	NOUN
fsr-3177	107	10	by	by	ADP
fsr-3177	107	11	calculating	calculate	VERB
fsr-3177	107	12	the	the	DET
fsr-3177	107	13	return	return	NOUN
fsr-3177	107	14	range	range	NOUN
fsr-3177	107	15	as	as	ADP
fsr-3177	107	16	return	return	NOUN
fsr-3177	107	17	of	of	ADP
fsr-3177	107	18	the	the	DET
fsr-3177	107	19	highest	high	ADJ
fsr-3177	107	20	performing	perform	VERB
fsr-3177	107	21	asset	asset	NOUN
fsr-3177	107	22	class	class	NOUN
fsr-3177	107	23	(	(	PUNCT
fsr-3177	107	24	emerging	emerge	VERB
fsr-3177	107	25	markets	market	NOUN
fsr-3177	107	26	)	)	PUNCT
fsr-3177	107	27	and	and	CCONJ
fsr-3177	107	28	the	the	DET
fsr-3177	107	29	lowest	low	ADJ
fsr-3177	107	30	return	return	NOUN
fsr-3177	107	31	asset	asset	NOUN
fsr-3177	107	32	class	class	NOUN
fsr-3177	107	33	(	(	PUNCT
fsr-3177	107	34	cash	cash	NOUN
fsr-3177	107	35	)	)	PUNCT
fsr-3177	107	36	.	.	PUNCT
fsr-3177	108	1	we	we	PRON
fsr-3177	108	2	then	then	ADV
fsr-3177	108	3	evaluated	evaluate	VERB
fsr-3177	108	4	the	the	DET
fsr-3177	108	5	efficacy	efficacy	NOUN
fsr-3177	108	6	of	of	ADP
fsr-3177	108	7	each	each	DET
fsr-3177	108	8	distribution	distribution	NOUN
fsr-3177	108	9	to	to	PART
fsr-3177	108	10	ensure	ensure	VERB
fsr-3177	108	11	reasonableness	reasonableness	NOUN
fsr-3177	108	12	in	in	ADP
fsr-3177	108	13	application	application	NOUN
fsr-3177	108	14	.	.	PUNCT
fsr-3177	109	1	behavioral	behavioral	ADJ
fsr-3177	109	2	expectations	expectation	NOUN
fsr-3177	109	3	of	of	ADP
fsr-3177	109	4	equity	equity	NOUN
fsr-3177	109	5	exposure	exposure	NOUN
fsr-3177	109	6	and	and	CCONJ
fsr-3177	109	7	maximum	maximum	ADJ
fsr-3177	109	8	decline	decline	NOUN
fsr-3177	109	9	in	in	ADP
fsr-3177	109	10	value	value	NOUN
fsr-3177	109	11	the	the	DET
fsr-3177	109	12	finametrica	finametrica	ADJ
fsr-3177	109	13	risk	risk	NOUN
fsr-3177	109	14	tolerance	tolerance	NOUN
fsr-3177	109	15	questionnaire	questionnaire	NOUN
fsr-3177	109	16	has	have	AUX
fsr-3177	109	17	question	question	NOUN
fsr-3177	109	18	data	datum	NOUN
fsr-3177	109	19	that	that	PRON
fsr-3177	109	20	can	can	AUX
fsr-3177	109	21	map	map	VERB
fsr-3177	109	22	risk	risk	NOUN
fsr-3177	109	23	-	-	PUNCT
fsr-3177	109	24	tolerance	tolerance	NOUN
fsr-3177	109	25	scores	score	NOUN
fsr-3177	109	26	to	to	ADP
fsr-3177	109	27	both	both	DET
fsr-3177	109	28	an	an	DET
fsr-3177	109	29	expected	expect	VERB
fsr-3177	109	30	percentage	percentage	NOUN
fsr-3177	109	31	of	of	ADP
fsr-3177	109	32	growth	growth	NOUN
fsr-3177	109	33	assets	asset	NOUN
fsr-3177	109	34	(	(	PUNCT
fsr-3177	109	35	methodology	methodology	NOUN
fsr-3177	109	36	#	#	SYM
fsr-3177	109	37	1	1	NUM
fsr-3177	109	38	)	)	PUNCT
fsr-3177	109	39	and	and	CCONJ
fsr-3177	109	40	a	a	DET
fsr-3177	109	41	largest	large	ADJ
fsr-3177	109	42	potential	potential	ADJ
fsr-3177	109	43	decline	decline	NOUN
fsr-3177	109	44	in	in	ADP
fsr-3177	109	45	value	value	NOUN
fsr-3177	109	46	of	of	ADP
fsr-3177	109	47	investments	investment	NOUN
fsr-3177	109	48	before	before	SCONJ
fsr-3177	109	49	investors	investor	NOUN
fsr-3177	109	50	become	become	VERB
fsr-3177	109	51	uncomfortable	uncomfortable	ADJ
fsr-3177	109	52	(	(	PUNCT
fsr-3177	109	53	methodology	methodology	NOUN
fsr-3177	109	54	#	#	SYM
fsr-3177	109	55	2	2	NUM
fsr-3177	109	56	)	)	PUNCT
fsr-3177	109	57	(	(	PUNCT
fsr-3177	109	58	davey	davey	NOUN
fsr-3177	109	59	,	,	PUNCT
fsr-3177	109	60	2015	2015	NUM
fsr-3177	109	61	)	)	PUNCT
fsr-3177	109	62	.	.	PUNCT
fsr-3177	110	1	in	in	ADP
fsr-3177	110	2	the	the	DET
fsr-3177	110	3	case	case	NOUN
fsr-3177	110	4	of	of	ADP
fsr-3177	110	5	equity	equity	NOUN
fsr-3177	110	6	/	/	SYM
fsr-3177	110	7	growth	growth	NOUN
fsr-3177	110	8	exposure	exposure	NOUN
fsr-3177	110	9	,	,	PUNCT
fsr-3177	110	10	this	this	DET
fsr-3177	110	11	study	study	NOUN
fsr-3177	110	12	used	use	VERB
fsr-3177	110	13	a	a	DET
fsr-3177	110	14	question	question	NOUN
fsr-3177	110	15	about	about	ADP
fsr-3177	110	16	the	the	DET
fsr-3177	110	17	expectation	expectation	NOUN
fsr-3177	110	18	of	of	ADP
fsr-3177	110	19	high	high	ADJ
fsr-3177	110	20	risk	risk	NOUN
fsr-3177	110	21	,	,	PUNCT
fsr-3177	110	22	medium	medium	ADJ
fsr-3177	110	23	risk	risk	NOUN
fsr-3177	110	24	,	,	PUNCT
fsr-3177	110	25	and	and	CCONJ
fsr-3177	110	26	low	low	ADJ
fsr-3177	110	27	risk	risk	NOUN
fsr-3177	110	28	investments	investment	NOUN
fsr-3177	110	29	that	that	SCONJ
fsr-3177	110	30	investors	investor	NOUN
fsr-3177	110	31	expected	expect	VERB
fsr-3177	110	32	in	in	ADP
fsr-3177	110	33	their	their	PRON
fsr-3177	110	34	portfolio	portfolio	NOUN
fsr-3177	110	35	.	.	PUNCT
fsr-3177	111	1	although	although	SCONJ
fsr-3177	111	2	davey	davey	NOUN
fsr-3177	111	3	’s	’s	PART
fsr-3177	111	4	estimate	estimate	NOUN
fsr-3177	111	5	of	of	ADP
fsr-3177	111	6	100	100	NUM
fsr-3177	111	7	%	%	NOUN
fsr-3177	111	8	,	,	PUNCT
fsr-3177	111	9	50	50	NUM
fsr-3177	111	10	%	%	NOUN
fsr-3177	111	11	,	,	PUNCT
fsr-3177	111	12	and	and	CCONJ
fsr-3177	111	13	0	0	NUM
fsr-3177	111	14	%	%	NOUN
fsr-3177	111	15	equities	equity	NOUN
fsr-3177	111	16	/	/	SYM
fsr-3177	111	17	growth	growth	NOUN
fsr-3177	111	18	for	for	ADP
fsr-3177	111	19	the	the	DET
fsr-3177	111	20	three	three	NUM
fsr-3177	111	21	risk	risk	NOUN
fsr-3177	111	22	categories	category	NOUN
fsr-3177	111	23	respectively	respectively	ADV
fsr-3177	111	24	is	be	AUX
fsr-3177	111	25	reasonable	reasonable	ADJ
fsr-3177	111	26	,	,	PUNCT
fsr-3177	111	27	expectation	expectation	NOUN
fsr-3177	111	28	is	be	AUX
fsr-3177	111	29	not	not	PART
fsr-3177	111	30	advice	advice	NOUN
fsr-3177	111	31	and	and	CCONJ
fsr-3177	111	32	a	a	DET
fsr-3177	111	33	different	different	ADJ
fsr-3177	111	34	assumption	assumption	NOUN
fsr-3177	111	35	(	(	PUNCT
fsr-3177	111	36	e.g.	e.g.	ADV
fsr-3177	111	37	,	,	PUNCT
fsr-3177	111	38	60/40	60/40	NUM
fsr-3177	111	39	is	be	AUX
fsr-3177	111	40	medium	medium	ADJ
fsr-3177	111	41	risk	risk	NOUN
fsr-3177	111	42	)	)	PUNCT
fsr-3177	111	43	would	would	AUX
fsr-3177	111	44	skew	skew	VERB
fsr-3177	111	45	the	the	DET
fsr-3177	111	46	results	result	NOUN
fsr-3177	111	47	to	to	ADP
fsr-3177	111	48	higher	high	ADJ
fsr-3177	111	49	equity	equity	NOUN
fsr-3177	111	50	content	content	NOUN
fsr-3177	111	51	across	across	ADP
fsr-3177	111	52	expectation	expectation	NOUN
fsr-3177	111	53	categories	category	NOUN
fsr-3177	111	54	.	.	PUNCT
fsr-3177	112	1	davey	davey	NOUN
fsr-3177	112	2	found	find	VERB
fsr-3177	112	3	little	little	ADJ
fsr-3177	112	4	statistical	statistical	ADJ
fsr-3177	112	5	variation	variation	NOUN
fsr-3177	112	6	by	by	ADP
fsr-3177	112	7	country	country	NOUN
fsr-3177	112	8	and	and	CCONJ
fsr-3177	112	9	therefore	therefore	ADV
fsr-3177	112	10	generalized	generalize	VERB
fsr-3177	112	11	across	across	ADP
fsr-3177	112	12	countries	country	NOUN
fsr-3177	112	13	.	.	PUNCT
fsr-3177	113	1	in	in	ADP
fsr-3177	113	2	this	this	DET
fsr-3177	113	3	study	study	NOUN
fsr-3177	113	4	,	,	PUNCT
fsr-3177	113	5	we	we	PRON
fsr-3177	113	6	compared	compare	VERB
fsr-3177	113	7	the	the	DET
fsr-3177	113	8	percentage	percentage	NOUN
fsr-3177	113	9	of	of	ADP
fsr-3177	113	10	growth	growth	NOUN
fsr-3177	113	11	assets	asset	NOUN
fsr-3177	113	12	for	for	ADP
fsr-3177	113	13	each	each	PRON
fsr-3177	113	14	of	of	ADP
fsr-3177	113	15	the	the	DET
fsr-3177	113	16	seven	seven	NUM
fsr-3177	113	17	portfolios	portfolio	NOUN
fsr-3177	113	18	(	(	PUNCT
fsr-3177	113	19	distributed	distribute	VERB
fsr-3177	113	20	by	by	ADP
fsr-3177	113	21	return	return	NOUN
fsr-3177	113	22	)	)	PUNCT
fsr-3177	113	23	for	for	ADP
fsr-3177	113	24	the	the	DET
fsr-3177	113	25	four	four	NUM
fsr-3177	113	26	countries	country	NOUN
fsr-3177	113	27	by	by	ADP
fsr-3177	113	28	combining	combine	VERB
fsr-3177	113	29	the	the	DET
fsr-3177	113	30	proportions	proportion	NOUN
fsr-3177	113	31	of	of	ADP
fsr-3177	113	32	recommended	recommend	VERB
fsr-3177	113	33	domestic	domestic	ADJ
fsr-3177	113	34	equity	equity	NOUN
fsr-3177	113	35	,	,	PUNCT
fsr-3177	113	36	international	international	ADJ
fsr-3177	113	37	equity	equity	NOUN
fsr-3177	113	38	,	,	PUNCT
fsr-3177	113	39	and	and	CCONJ
fsr-3177	113	40	emerging	emerge	VERB
fsr-3177	113	41	markets	market	NOUN
fsr-3177	113	42	and	and	CCONJ
fsr-3177	113	43	mapping	map	VERB
fsr-3177	113	44	them	they	PRON
fsr-3177	113	45	to	to	ADP
fsr-3177	113	46	the	the	DET
fsr-3177	113	47	risk	risk	NOUN
fsr-3177	113	48	band	band	NOUN
fsr-3177	113	49	defined	define	VERB
fsr-3177	113	50	by	by	ADP
fsr-3177	113	51	davey	davey	NOUN
fsr-3177	113	52	(	(	PUNCT
fsr-3177	113	53	methodology	methodology	NOUN
fsr-3177	113	54	#	#	SYM
fsr-3177	113	55	1	1	NUM
fsr-3177	113	56	)	)	PUNCT
fsr-3177	113	57	.	.	PUNCT
fsr-3177	114	1	we	we	PRON
fsr-3177	114	2	then	then	ADV
fsr-3177	114	3	compared	compare	VERB
fsr-3177	114	4	the	the	DET
fsr-3177	114	5	var	var	NOUN
fsr-3177	114	6	of	of	ADP
fsr-3177	114	7	each	each	PRON
fsr-3177	114	8	of	of	ADP
fsr-3177	114	9	the	the	DET
fsr-3177	114	10	seven	seven	NUM
fsr-3177	114	11	portfolios	portfolio	NOUN
fsr-3177	114	12	above	above	ADV
fsr-3177	114	13	for	for	ADP
fsr-3177	114	14	the	the	DET
fsr-3177	114	15	four	four	NUM
fsr-3177	114	16	countries	country	NOUN
fsr-3177	114	17	against	against	ADP
fsr-3177	114	18	the	the	DET
fsr-3177	114	19	expected	expect	VERB
fsr-3177	114	20	downside	downside	ADJ
fsr-3177	114	21	expectation	expectation	NOUN
fsr-3177	114	22	for	for	ADP
fsr-3177	114	23	the	the	DET
fsr-3177	114	24	seven	seven	NUM
fsr-3177	114	25	risk	risk	NOUN
fsr-3177	114	26	bands	band	NOUN
fsr-3177	114	27	(	(	PUNCT
fsr-3177	114	28	methodology	methodology	NOUN
fsr-3177	114	29	#	#	SYM
fsr-3177	114	30	2	2	NUM
fsr-3177	114	31	)	)	PUNCT
fsr-3177	114	32	.	.	PUNCT
fsr-3177	115	1	davey	davey	NOUN
fsr-3177	115	2	used	use	VERB
fsr-3177	115	3	an	an	DET
fsr-3177	115	4	aggressive	aggressive	ADJ
fsr-3177	115	5	3.5x	3.5x	PRON
fsr-3177	115	6	standard	standard	ADJ
fsr-3177	115	7	deviation	deviation	NOUN
fsr-3177	115	8	factor	factor	NOUN
fsr-3177	115	9	which	which	PRON
fsr-3177	115	10	was	be	AUX
fsr-3177	115	11	replicated	replicate	VERB
fsr-3177	115	12	in	in	ADP
fsr-3177	115	13	this	this	DET
fsr-3177	115	14	study	study	NOUN
fsr-3177	115	15	.	.	PUNCT
fsr-3177	116	1	five	five	NUM
fsr-3177	116	2	-	-	PUNCT
fsr-3177	116	3	year	year	NOUN
fsr-3177	116	4	monthly	monthly	ADJ
fsr-3177	116	5	standard	standard	ADJ
fsr-3177	116	6	deviations	deviation	NOUN
fsr-3177	116	7	and	and	CCONJ
fsr-3177	116	8	mifid	mifid	ADJ
fsr-3177	116	9	-	-	PUNCT
fsr-3177	116	10	ii	ii	NOUN
fsr-3177	116	11	mapping	mapping	NOUN
fsr-3177	116	12	mifid	mifid	ADJ
fsr-3177	116	13	-	-	PUNCT
fsr-3177	116	14	ii	ii	NOUN
fsr-3177	116	15	regulation	regulation	NOUN
fsr-3177	116	16	outlined	outline	VERB
fsr-3177	116	17	a	a	DET
fsr-3177	116	18	range	range	NOUN
fsr-3177	116	19	of	of	ADP
fsr-3177	116	20	standard	standard	ADJ
fsr-3177	116	21	deviation	deviation	NOUN
fsr-3177	116	22	intervals	interval	NOUN
fsr-3177	116	23	and	and	CCONJ
fsr-3177	116	24	their	their	PRON
fsr-3177	116	25	respective	respective	ADJ
fsr-3177	116	26	mapping	mapping	NOUN
fsr-3177	116	27	into	into	ADP
fsr-3177	116	28	seven	seven	NUM
fsr-3177	116	29	risk	risk	NOUN
fsr-3177	116	30	bands	band	NOUN
fsr-3177	116	31	.	.	PUNCT
fsr-3177	117	1	these	these	PRON
fsr-3177	117	2	are	be	AUX
fsr-3177	117	3	shown	show	VERB
fsr-3177	117	4	in	in	ADP
fsr-3177	117	5	table	table	NOUN
fsr-3177	117	6	1	1	NUM
fsr-3177	117	7	.	.	PUNCT
fsr-3177	117	8	as	as	ADV
fsr-3177	117	9	previously	previously	ADV
fsr-3177	117	10	outlined	outline	VERB
fsr-3177	117	11	,	,	PUNCT
fsr-3177	117	12	in	in	ADP
fsr-3177	117	13	this	this	DET
fsr-3177	117	14	study	study	NOUN
fsr-3177	117	15	,	,	PUNCT
fsr-3177	117	16	volatility	volatility	NOUN
fsr-3177	117	17	was	be	AUX
fsr-3177	117	18	calculated	calculate	VERB
fsr-3177	117	19	as	as	ADP
fsr-3177	117	20	the	the	DET
fsr-3177	117	21	five	five	NUM
fsr-3177	117	22	-	-	PUNCT
fsr-3177	117	23	year	year	NOUN
fsr-3177	117	24	monthly	monthly	ADJ
fsr-3177	117	25	standard	standard	ADJ
fsr-3177	117	26	deviation	deviation	NOUN
fsr-3177	117	27	,	,	PUNCT
fsr-3177	117	28	annualized	annualize	VERB
fsr-3177	117	29	as	as	ADP
fsr-3177	117	30	follows	follow	VERB
fsr-3177	117	31	(	(	PUNCT
fsr-3177	117	32	methodology	methodology	NOUN
fsr-3177	117	33	#	#	SYM
fsr-3177	117	34	3	3	NUM
fsr-3177	117	35	):	):	PUNCT
fsr-3177	117	36	using	use	VERB
fsr-3177	117	37	asset	asset	NOUN
fsr-3177	117	38	allocations	allocation	NOUN
fsr-3177	117	39	of	of	ADP
fsr-3177	117	40	the	the	DET
fsr-3177	117	41	seven	seven	NUM
fsr-3177	117	42	efficient	efficient	ADJ
fsr-3177	117	43	portfolios	portfolio	NOUN
fsr-3177	117	44	distributed	distribute	VERB
fsr-3177	117	45	by	by	ADP
fsr-3177	117	46	even	even	ADV
fsr-3177	117	47	returns	return	NOUN
fsr-3177	117	48	for	for	ADP
fsr-3177	117	49	each	each	DET
fsr-3177	117	50	country	country	NOUN
fsr-3177	117	51	,	,	PUNCT
fsr-3177	117	52	and	and	CCONJ
fsr-3177	117	53	the	the	DET
fsr-3177	117	54	representative	representative	ADJ
fsr-3177	117	55	five	five	NUM
fsr-3177	117	56	-	-	PUNCT
fsr-3177	117	57	year	year	NOUN
fsr-3177	117	58	monthly	monthly	ADJ
fsr-3177	117	59	index	index	NOUN
fsr-3177	117	60	data	datum	NOUN
fsr-3177	117	61	,	,	PUNCT
fsr-3177	117	62	we	we	PRON
fsr-3177	117	63	calculated	calculate	VERB
fsr-3177	117	64	the	the	DET
fsr-3177	117	65	standard	standard	ADJ
fsr-3177	117	66	deviation	deviation	NOUN
fsr-3177	117	67	as	as	SCONJ
fsr-3177	117	68	prescribed	prescribe	VERB
fsr-3177	117	69	by	by	ADP
fsr-3177	117	70	mifid	mifid	ADJ
fsr-3177	117	71	-	-	PUNCT
fsr-3177	117	72	ii	ii	NOUN
fsr-3177	117	73	regulations	regulation	NOUN
fsr-3177	117	74	in	in	ADP
fsr-3177	117	75	europe	europe	PROPN
fsr-3177	117	76	.	.	PUNCT
fsr-3177	118	1	mifid	mifid	ADJ
fsr-3177	118	2	-	-	PUNCT
fsr-3177	118	3	ii	ii	NOUN
fsr-3177	118	4	also	also	ADV
fsr-3177	118	5	prescribes	prescribe	VERB
fsr-3177	118	6	a	a	DET
fsr-3177	118	7	method	method	NOUN
fsr-3177	118	8	for	for	ADP
fsr-3177	118	9	mapping	mapping	NOUN
fsr-3177	118	10	products	product	NOUN
fsr-3177	118	11	based	base	VERB
fsr-3177	118	12	on	on	ADP
fsr-3177	118	13	the	the	DET
fsr-3177	118	14	standard	standard	ADJ
fsr-3177	118	15	deviation	deviation	NOUN
fsr-3177	118	16	into	into	ADP
fsr-3177	118	17	one	one	NUM
fsr-3177	118	18	of	of	ADP
fsr-3177	118	19	seven	seven	NUM
fsr-3177	118	20	risk	risk	NOUN
fsr-3177	118	21	bands	band	NOUN
fsr-3177	118	22	(	(	PUNCT
fsr-3177	118	23	see	see	VERB
fsr-3177	118	24	table	table	NOUN
fsr-3177	118	25	1	1	NUM
fsr-3177	118	26	)	)	PUNCT
fsr-3177	118	27	.	.	PUNCT
fsr-3177	119	1	using	use	VERB
fsr-3177	119	2	the	the	DET
fsr-3177	119	3	mifid	mifid	ADJ
fsr-3177	119	4	-	-	PUNCT
fsr-3177	119	5	ii	ii	NOUN
fsr-3177	119	6	mapping	mapping	NOUN
fsr-3177	119	7	,	,	PUNCT
fsr-3177	119	8	we	we	PRON
fsr-3177	119	9	tested	test	VERB
fsr-3177	119	10	to	to	PART
fsr-3177	119	11	see	see	VERB
fsr-3177	119	12	if	if	SCONJ
fsr-3177	119	13	our	our	PRON
fsr-3177	119	14	efficient	efficient	ADJ
fsr-3177	119	15	portfolios	portfolio	NOUN
fsr-3177	119	16	map	map	VERB
fsr-3177	119	17	into	into	ADP
fsr-3177	119	18	the	the	DET
fsr-3177	119	19	seven	seven	NUM
fsr-3177	119	20	prescribed	prescribed	ADJ
fsr-3177	119	21	risk	risk	NOUN
fsr-3177	119	22	bands	band	NOUN
fsr-3177	119	23	or	or	CCONJ
fsr-3177	119	24	are	be	AUX
fsr-3177	119	25	otherwise	otherwise	ADV
fsr-3177	119	26	distributed	distribute	VERB
fsr-3177	119	27	.	.	PUNCT
fsr-3177	120	1	because	because	SCONJ
fsr-3177	120	2	of	of	ADP
fsr-3177	120	3	the	the	DET
fsr-3177	120	4	inconsistent	inconsistent	ADJ
fsr-3177	120	5	results	result	NOUN
fsr-3177	120	6	of	of	ADP
fsr-3177	120	7	rolling	rolling	ADJ
fsr-3177	120	8	fiveyear	fiveyear	NOUN
fsr-3177	120	9	standard	standard	ADJ
fsr-3177	120	10	deviations	deviation	NOUN
fsr-3177	120	11	,	,	PUNCT
fsr-3177	120	12	we	we	PRON
fsr-3177	120	13	also	also	ADV
fsr-3177	120	14	used	use	VERB
fsr-3177	120	15	the	the	DET
fsr-3177	120	16	same	same	ADJ
fsr-3177	120	17	long	long	ADJ
fsr-3177	120	18	-	-	PUNCT
fsr-3177	120	19	term	term	NOUN
fsr-3177	120	20	standard	standard	ADJ
fsr-3177	120	21	deviations	deviation	NOUN
fsr-3177	120	22	as	as	SCONJ
fsr-3177	120	23	were	be	AUX
fsr-3177	120	24	used	use	VERB
fsr-3177	120	25	elsewhere	elsewhere	ADV
fsr-3177	120	26	and	and	CCONJ
fsr-3177	120	27	the	the	DET
fsr-3177	120	28	prescribed	prescribed	ADJ
fsr-3177	120	29	bands	band	NOUN
fsr-3177	120	30	outlined	outline	VERB
fsr-3177	120	31	by	by	ADP
fsr-3177	120	32	mifid	mifid	ADJ
fsr-3177	120	33	-	-	PUNCT
fsr-3177	120	34	ii	ii	NOUN
fsr-3177	120	35	.	.	PUNCT
fsr-3177	120	36	financial	financial	PROPN
fsr-3177	120	37	services	services	PROPN
fsr-3177	120	38	review	review	NOUN
fsr-3177	120	39	,	,	PUNCT
fsr-3177	120	40	31(4	31(4	NUM
fsr-3177	120	41	)	)	PUNCT
fsr-3177	120	42	252	252	NUM
fsr-3177	120	43	table	table	NOUN
fsr-3177	120	44	1	1	NUM
fsr-3177	120	45	.	.	PUNCT
fsr-3177	120	46	mifid	mifid	ADJ
fsr-3177	120	47	-	-	PUNCT
fsr-3177	120	48	ii	ii	NOUN
fsr-3177	120	49	mapping	mapping	NOUN
fsr-3177	120	50	rules	rule	NOUN
fsr-3177	120	51	based	base	VERB
fsr-3177	120	52	on	on	ADP
fsr-3177	120	53	standard	standard	ADJ
fsr-3177	120	54	deviation	deviation	NOUN
fsr-3177	120	55	intervals	interval	NOUN
fsr-3177	120	56	risk	risk	NOUN
fsr-3177	120	57	class	class	NOUN
fsr-3177	120	58	volatility	volatility	NOUN
fsr-3177	120	59	intervals	interval	NOUN
fsr-3177	120	60	equal	equal	ADJ
fsr-3177	120	61	or	or	CCONJ
fsr-3177	120	62	above	above	ADP
fsr-3177	120	63	less	less	ADJ
fsr-3177	120	64	than	than	ADP
fsr-3177	120	65	1	1	NUM
fsr-3177	120	66	0	0	NUM
fsr-3177	120	67	%	%	NOUN
fsr-3177	120	68	0.5	0.5	NUM
fsr-3177	120	69	%	%	NOUN
fsr-3177	120	70	2	2	NUM
fsr-3177	120	71	0.5	0.5	NUM
fsr-3177	120	72	%	%	NOUN
fsr-3177	120	73	2	2	NUM
fsr-3177	120	74	%	%	NOUN
fsr-3177	120	75	3	3	NUM
fsr-3177	120	76	2	2	NUM
fsr-3177	120	77	%	%	NOUN
fsr-3177	120	78	5	5	NUM
fsr-3177	120	79	%	%	NOUN
fsr-3177	120	80	4	4	NUM
fsr-3177	120	81	5	5	NUM
fsr-3177	120	82	%	%	NOUN
fsr-3177	120	83	10	10	NUM
fsr-3177	120	84	%	%	NOUN
fsr-3177	120	85	5	5	NUM
fsr-3177	120	86	10	10	NUM
fsr-3177	120	87	%	%	NOUN
fsr-3177	120	88	15	15	NUM
fsr-3177	120	89	%	%	NOUN
fsr-3177	120	90	6	6	NUM
fsr-3177	120	91	15	15	NUM
fsr-3177	120	92	%	%	NOUN
fsr-3177	120	93	25	25	NUM
fsr-3177	120	94	%	%	NOUN
fsr-3177	120	95	7	7	NUM
fsr-3177	120	96	25	25	NUM
fsr-3177	120	97	%	%	NOUN
fsr-3177	120	98	riskcat	riskcat	NOUN
fsr-3177	120	99	methodology	methodology	NOUN
fsr-3177	120	100	and	and	CCONJ
fsr-3177	120	101	var	var	NOUN
fsr-3177	120	102	riskcat	riskcat	NOUN
fsr-3177	120	103	was	be	AUX
fsr-3177	120	104	designed	design	VERB
fsr-3177	120	105	as	as	ADP
fsr-3177	120	106	a	a	DET
fsr-3177	120	107	methodology	methodology	NOUN
fsr-3177	120	108	by	by	ADP
fsr-3177	120	109	grable	grable	PROPN
fsr-3177	120	110	(	(	PUNCT
fsr-3177	120	111	2008	2008	NUM
fsr-3177	120	112	)	)	PUNCT
fsr-3177	120	113	that	that	PRON
fsr-3177	120	114	was	be	AUX
fsr-3177	120	115	intended	intend	VERB
fsr-3177	120	116	to	to	PART
fsr-3177	120	117	provide	provide	VERB
fsr-3177	120	118	a	a	DET
fsr-3177	120	119	robust	robust	ADJ
fsr-3177	120	120	approach	approach	NOUN
fsr-3177	120	121	for	for	ADP
fsr-3177	120	122	calculating	calculate	VERB
fsr-3177	120	123	a	a	DET
fsr-3177	120	124	risk	risk	NOUN
fsr-3177	120	125	profile	profile	NOUN
fsr-3177	120	126	for	for	ADP
fsr-3177	120	127	an	an	DET
fsr-3177	120	128	investor	investor	NOUN
fsr-3177	120	129	/	/	SYM
fsr-3177	120	130	portfolio	portfolio	NOUN
fsr-3177	120	131	.	.	PUNCT
fsr-3177	121	1	the	the	DET
fsr-3177	121	2	method	method	NOUN
fsr-3177	121	3	is	be	AUX
fsr-3177	121	4	based	base	VERB
fsr-3177	121	5	on	on	ADP
fsr-3177	121	6	a	a	DET
fsr-3177	121	7	multiplicative	multiplicative	ADJ
fsr-3177	121	8	algorithm	algorithm	NOUN
fsr-3177	121	9	that	that	PRON
fsr-3177	121	10	combines	combine	VERB
fsr-3177	121	11	risk	risk	NOUN
fsr-3177	121	12	tolerance	tolerance	NOUN
fsr-3177	121	13	,	,	PUNCT
fsr-3177	121	14	risk	risk	NOUN
fsr-3177	121	15	capacity	capacity	NOUN
fsr-3177	121	16	,	,	PUNCT
fsr-3177	121	17	and	and	CCONJ
fsr-3177	121	18	time	time	NOUN
fsr-3177	121	19	horizon	horizon	PROPN
fsr-3177	121	20	to	to	PART
fsr-3177	121	21	arrive	arrive	VERB
fsr-3177	121	22	at	at	ADP
fsr-3177	121	23	a	a	DET
fsr-3177	121	24	profile	profile	NOUN
fsr-3177	121	25	score	score	NOUN
fsr-3177	121	26	.	.	PUNCT
fsr-3177	122	1	grable	grable	PROPN
fsr-3177	122	2	proposed	propose	VERB
fsr-3177	122	3	a	a	DET
fsr-3177	122	4	method	method	NOUN
fsr-3177	122	5	to	to	PART
fsr-3177	122	6	map	map	VERB
fsr-3177	122	7	from	from	ADP
fsr-3177	122	8	a	a	DET
fsr-3177	122	9	riskcat	riskcat	ADJ
fsr-3177	122	10	score	score	NOUN
fsr-3177	122	11	into	into	ADP
fsr-3177	122	12	a	a	DET
fsr-3177	122	13	multiple	multiple	NOUN
fsr-3177	122	14	of	of	ADP
fsr-3177	122	15	an	an	DET
fsr-3177	122	16	index	index	NOUN
fsr-3177	122	17	based	base	VERB
fsr-3177	122	18	on	on	ADP
fsr-3177	122	19	75	75	NUM
fsr-3177	122	20	%	%	NOUN
fsr-3177	122	21	u.s	u.s	PROPN
fsr-3177	122	22	.	.	PROPN
fsr-3177	122	23	large	large	ADJ
fsr-3177	122	24	cap	cap	NOUN
fsr-3177	122	25	and	and	CCONJ
fsr-3177	122	26	25	25	NUM
fsr-3177	122	27	%	%	NOUN
fsr-3177	122	28	u.s	u.s	PROPN
fsr-3177	122	29	.	.	PROPN
fsr-3177	122	30	small	small	ADJ
fsr-3177	122	31	cap	cap	NOUN
fsr-3177	122	32	equities	equity	NOUN
fsr-3177	122	33	,	,	PUNCT
fsr-3177	122	34	which	which	PRON
fsr-3177	122	35	was	be	AUX
fsr-3177	122	36	linked	link	VERB
fsr-3177	122	37	to	to	ADP
fsr-3177	122	38	a	a	DET
fsr-3177	122	39	riskcat	riskcat	ADJ
fsr-3177	122	40	score	score	NOUN
fsr-3177	122	41	of	of	ADP
fsr-3177	122	42	1.0	1.0	NUM
fsr-3177	122	43	of	of	ADP
fsr-3177	122	44	a	a	DET
fsr-3177	122	45	potential	potential	ADJ
fsr-3177	122	46	2.5	2.5	NUM
fsr-3177	122	47	.	.	PUNCT
fsr-3177	123	1	because	because	SCONJ
fsr-3177	123	2	the	the	DET
fsr-3177	123	3	scale	scale	NOUN
fsr-3177	123	4	assumes	assume	VERB
fsr-3177	123	5	a	a	DET
fsr-3177	123	6	2.5	2.5	NUM
fsr-3177	123	7	return	return	NOUN
fsr-3177	123	8	multiple	multiple	NOUN
fsr-3177	123	9	of	of	ADP
fsr-3177	123	10	a	a	DET
fsr-3177	123	11	100	100	NUM
fsr-3177	123	12	%	%	NOUN
fsr-3177	123	13	equity	equity	NOUN
fsr-3177	123	14	portfolio	portfolio	NOUN
fsr-3177	123	15	,	,	PUNCT
fsr-3177	123	16	it	it	PRON
fsr-3177	123	17	seems	seem	VERB
fsr-3177	123	18	“	"	PUNCT
fsr-3177	123	19	dated	date	VERB
fsr-3177	123	20	”	"	PUNCT
fsr-3177	123	21	and	and	CCONJ
fsr-3177	123	22	linked	link	VERB
fsr-3177	123	23	to	to	ADP
fsr-3177	123	24	beliefs	belief	NOUN
fsr-3177	123	25	predating	predate	VERB
fsr-3177	123	26	our	our	PRON
fsr-3177	123	27	planning	planning	NOUN
fsr-3177	123	28	understanding	understanding	NOUN
fsr-3177	123	29	of	of	ADP
fsr-3177	123	30	the	the	DET
fsr-3177	123	31	difficulty	difficulty	NOUN
fsr-3177	123	32	for	for	ADP
fsr-3177	123	33	financial	financial	ADJ
fsr-3177	123	34	advisors	advisor	NOUN
fsr-3177	123	35	to	to	PART
fsr-3177	123	36	consistently	consistently	ADV
fsr-3177	123	37	and	and	CCONJ
fsr-3177	123	38	materially	materially	ADV
fsr-3177	123	39	outperform	outperform	VERB
fsr-3177	123	40	index	index	NOUN
fsr-3177	123	41	/	/	SYM
fsr-3177	123	42	etf	etf	NOUN
fsr-3177	123	43	returns	return	NOUN
fsr-3177	123	44	,	,	PUNCT
fsr-3177	123	45	we	we	PRON
fsr-3177	123	46	also	also	ADV
fsr-3177	123	47	ran	run	VERB
fsr-3177	123	48	riskcat	riskcat	NOUN
fsr-3177	123	49	rescaled	rescaled	ADJ
fsr-3177	123	50	to	to	ADP
fsr-3177	123	51	a	a	DET
fsr-3177	123	52	1.25x	1.25x	NUM
fsr-3177	123	53	market	market	NOUN
fsr-3177	123	54	as	as	ADP
fsr-3177	123	55	the	the	DET
fsr-3177	123	56	upper	upper	ADJ
fsr-3177	123	57	threshold	threshold	NOUN
fsr-3177	123	58	.	.	PUNCT
fsr-3177	124	1	results	result	NOUN
fsr-3177	124	2	and	and	CCONJ
fsr-3177	124	3	analysis	analysis	NOUN
fsr-3177	124	4	efficient	efficient	ADJ
fsr-3177	124	5	frontier	frontier	NOUN
fsr-3177	124	6	portfolios	portfolio	NOUN
fsr-3177	124	7	using	use	VERB
fsr-3177	124	8	long	long	ADJ
fsr-3177	124	9	term	term	NOUN
fsr-3177	124	10	history	history	NOUN
fsr-3177	124	11	for	for	ADP
fsr-3177	124	12	each	each	PRON
fsr-3177	124	13	of	of	ADP
fsr-3177	124	14	the	the	DET
fsr-3177	124	15	four	four	NUM
fsr-3177	124	16	primary	primary	ADJ
fsr-3177	124	17	markets	market	NOUN
fsr-3177	124	18	considered	consider	VERB
fsr-3177	124	19	,	,	PUNCT
fsr-3177	124	20	we	we	PRON
fsr-3177	124	21	created	create	VERB
fsr-3177	124	22	the	the	DET
fsr-3177	124	23	longest	long	ADJ
fsr-3177	124	24	series	series	NOUN
fsr-3177	124	25	of	of	ADP
fsr-3177	124	26	historical	historical	ADJ
fsr-3177	124	27	data	datum	NOUN
fsr-3177	124	28	possible	possible	ADJ
fsr-3177	124	29	for	for	ADP
fsr-3177	124	30	five	five	NUM
fsr-3177	124	31	asset	asset	NOUN
fsr-3177	124	32	classes	class	NOUN
fsr-3177	124	33	:	:	PUNCT
fsr-3177	124	34	(	(	PUNCT
fsr-3177	124	35	a	a	X
fsr-3177	124	36	)	)	PUNCT
fsr-3177	124	37	cash	cash	NOUN
fsr-3177	124	38	,	,	PUNCT
fsr-3177	124	39	(	(	PUNCT
fsr-3177	124	40	b	b	X
fsr-3177	124	41	)	)	PUNCT
fsr-3177	124	42	domestic	domestic	ADJ
fsr-3177	124	43	fixed	fix	VERB
fsr-3177	124	44	income	income	NOUN
fsr-3177	124	45	,	,	PUNCT
fsr-3177	124	46	(	(	PUNCT
fsr-3177	124	47	c	c	X
fsr-3177	124	48	)	)	PUNCT
fsr-3177	124	49	domestic	domestic	ADJ
fsr-3177	124	50	large	large	ADJ
fsr-3177	124	51	cap	cap	NOUN
fsr-3177	124	52	,	,	PUNCT
fsr-3177	124	53	(	(	PUNCT
fsr-3177	124	54	d	d	X
fsr-3177	124	55	)	)	PUNCT
fsr-3177	124	56	international	international	ADJ
fsr-3177	124	57	equity	equity	NOUN
fsr-3177	124	58	,	,	PUNCT
fsr-3177	124	59	and	and	CCONJ
fsr-3177	124	60	(	(	PUNCT
fsr-3177	124	61	e	e	NOUN
fsr-3177	124	62	)	)	PUNCT
fsr-3177	124	63	emerging	emerge	VERB
fsr-3177	124	64	markets	market	NOUN
fsr-3177	124	65	.	.	PUNCT
fsr-3177	125	1	we	we	PRON
fsr-3177	125	2	did	do	AUX
fsr-3177	125	3	not	not	PART
fsr-3177	125	4	include	include	VERB
fsr-3177	125	5	small	small	ADJ
fsr-3177	125	6	cap	cap	NOUN
fsr-3177	125	7	equities	equity	NOUN
fsr-3177	125	8	in	in	ADP
fsr-3177	125	9	the	the	DET
fsr-3177	125	10	portfolio	portfolio	NOUN
fsr-3177	125	11	construction	construction	NOUN
fsr-3177	125	12	as	as	SCONJ
fsr-3177	125	13	there	there	PRON
fsr-3177	125	14	was	be	VERB
fsr-3177	125	15	insufficient	insufficient	ADJ
fsr-3177	125	16	data	datum	NOUN
fsr-3177	125	17	history	history	NOUN
fsr-3177	125	18	in	in	ADP
fsr-3177	125	19	countries	country	NOUN
fsr-3177	125	20	outside	outside	ADP
fsr-3177	125	21	the	the	DET
fsr-3177	125	22	united	united	PROPN
fsr-3177	125	23	states	states	PROPN
fsr-3177	125	24	.	.	PUNCT
fsr-3177	126	1	data	datum	NOUN
fsr-3177	126	2	from	from	ADP
fsr-3177	126	3	u.s	u.s	PROPN
fsr-3177	126	4	.	.	PROPN
fsr-3177	126	5	small	small	ADJ
fsr-3177	126	6	caps	cap	NOUN
fsr-3177	126	7	is	be	AUX
fsr-3177	126	8	shown	show	VERB
fsr-3177	126	9	in	in	ADP
fsr-3177	126	10	appendix	appendix	NOUN
fsr-3177	126	11	1	1	NUM
fsr-3177	126	12	as	as	SCONJ
fsr-3177	126	13	it	it	PRON
fsr-3177	126	14	remains	remain	VERB
fsr-3177	126	15	material	material	ADJ
fsr-3177	126	16	to	to	ADP
fsr-3177	126	17	the	the	DET
fsr-3177	126	18	beta	beta	ADJ
fsr-3177	126	19	calculation	calculation	NOUN
fsr-3177	126	20	for	for	ADP
fsr-3177	126	21	the	the	DET
fsr-3177	126	22	riskcat	riskcat	ADJ
fsr-3177	126	23	methodology	methodology	NOUN
fsr-3177	126	24	.	.	PUNCT
fsr-3177	127	1	observations	observation	NOUN
fsr-3177	127	2	on	on	ADP
fsr-3177	127	3	the	the	DET
fsr-3177	127	4	efficient	efficient	ADJ
fsr-3177	127	5	frontier	frontier	NOUN
fsr-3177	127	6	when	when	SCONJ
fsr-3177	127	7	the	the	DET
fsr-3177	127	8	portfolios	portfolio	NOUN
fsr-3177	127	9	were	be	AUX
fsr-3177	127	10	distributed	distribute	VERB
fsr-3177	127	11	by	by	ADP
fsr-3177	127	12	even	even	ADJ
fsr-3177	127	13	levels	level	NOUN
fsr-3177	127	14	of	of	ADP
fsr-3177	127	15	risk	risk	NOUN
fsr-3177	127	16	,	,	PUNCT
fsr-3177	127	17	we	we	PRON
fsr-3177	127	18	ended	end	VERB
fsr-3177	127	19	up	up	ADP
fsr-3177	127	20	with	with	ADP
fsr-3177	127	21	portfolios	portfolio	NOUN
fsr-3177	127	22	that	that	PRON
fsr-3177	127	23	were	be	AUX
fsr-3177	127	24	much	much	ADV
fsr-3177	127	25	more	more	ADV
fsr-3177	127	26	heavily	heavily	ADV
fsr-3177	127	27	equity	equity	NOUN
fsr-3177	127	28	biased	bias	VERB
fsr-3177	127	29	.	.	PUNCT
fsr-3177	128	1	as	as	SCONJ
fsr-3177	128	2	seen	see	VERB
fsr-3177	128	3	in	in	ADP
fsr-3177	128	4	figure	figure	NOUN
fsr-3177	128	5	3	3	NUM
fsr-3177	128	6	,	,	PUNCT
fsr-3177	128	7	the	the	DET
fsr-3177	128	8	portfolios	portfolio	NOUN
fsr-3177	128	9	were	be	AUX
fsr-3177	128	10	allocated	allocate	VERB
fsr-3177	128	11	100	100	NUM
fsr-3177	128	12	%	%	NOUN
fsr-3177	128	13	in	in	ADP
fsr-3177	128	14	equities	equity	NOUN
fsr-3177	128	15	by	by	ADP
fsr-3177	128	16	portfolio	portfolio	NOUN
fsr-3177	128	17	4	4	NUM
fsr-3177	128	18	for	for	ADP
fsr-3177	128	19	canada	canada	PROPN
fsr-3177	128	20	and	and	CCONJ
fsr-3177	128	21	the	the	DET
fsr-3177	128	22	united	united	PROPN
fsr-3177	128	23	states	states	PROPN
fsr-3177	128	24	(	(	PUNCT
fsr-3177	128	25	1	1	NUM
fsr-3177	128	26	being	be	AUX
fsr-3177	128	27	the	the	DET
fsr-3177	128	28	least	least	ADV
fsr-3177	128	29	risky	risky	ADJ
fsr-3177	128	30	and	and	CCONJ
fsr-3177	128	31	7	7	NUM
fsr-3177	128	32	the	the	DET
fsr-3177	128	33	riskiest	risky	ADJ
fsr-3177	128	34	)	)	PUNCT
fsr-3177	128	35	and	and	CCONJ
fsr-3177	128	36	portfolio	portfolio	NOUN
fsr-3177	128	37	5	5	NUM
fsr-3177	128	38	for	for	ADP
fsr-3177	128	39	australia	australia	PROPN
fsr-3177	128	40	.	.	PUNCT
fsr-3177	129	1	the	the	DET
fsr-3177	129	2	efficient	efficient	ADJ
fsr-3177	129	3	frontier	frontier	NOUN
fsr-3177	129	4	(	(	PUNCT
fsr-3177	129	5	figure	figure	NOUN
fsr-3177	129	6	2	2	NUM
fsr-3177	129	7	)	)	PUNCT
fsr-3177	129	8	of	of	ADP
fsr-3177	129	9	portfolios	portfolio	NOUN
fsr-3177	129	10	distributed	distribute	VERB
fsr-3177	129	11	evenly	evenly	ADV
fsr-3177	129	12	by	by	ADP
fsr-3177	129	13	risk	risk	NOUN
fsr-3177	129	14	is	be	AUX
fsr-3177	129	15	displayed	display	VERB
fsr-3177	129	16	based	base	VERB
fsr-3177	129	17	on	on	ADP
fsr-3177	129	18	the	the	DET
fsr-3177	129	19	arithmetic	arithmetic	ADJ
fsr-3177	129	20	mean	mean	NOUN
fsr-3177	129	21	which	which	PRON
fsr-3177	129	22	was	be	AUX
fsr-3177	129	23	used	use	VERB
fsr-3177	129	24	in	in	ADP
fsr-3177	129	25	the	the	DET
fsr-3177	129	26	efficient	efficient	ADJ
fsr-3177	129	27	frontier	frontier	NOUN
fsr-3177	129	28	calc	calc	NOUN
fsr-3177	129	29	.	.	PUNCT
fsr-3177	130	1	brayman	brayman	PROPN
fsr-3177	130	2	et	et	PROPN
fsr-3177	130	3	al	al	PROPN
fsr-3177	130	4	.	.	PROPN
fsr-3177	130	5	253	253	NUM
fsr-3177	130	6	figure	figure	NOUN
fsr-3177	130	7	2	2	NUM
fsr-3177	130	8	.	.	PUNCT
fsr-3177	130	9	seven	seven	NUM
fsr-3177	130	10	efficient	efficient	ADJ
fsr-3177	130	11	portfolios	portfolio	NOUN
fsr-3177	130	12	evenly	evenly	ADV
fsr-3177	130	13	distributed	distribute	VERB
fsr-3177	130	14	by	by	ADP
fsr-3177	130	15	increments	increment	NOUN
fsr-3177	130	16	of	of	ADP
fsr-3177	130	17	risk	risk	NOUN
fsr-3177	130	18	figure	figure	NOUN
fsr-3177	130	19	3	3	NUM
fsr-3177	130	20	.	.	NOUN
fsr-3177	130	21	defensive	defensive	ADJ
fsr-3177	130	22	vs	vs	ADP
fsr-3177	130	23	growth	growth	NOUN
fsr-3177	130	24	distributions	distribution	NOUN
fsr-3177	130	25	based	base	VERB
fsr-3177	130	26	on	on	ADP
fsr-3177	130	27	the	the	DET
fsr-3177	130	28	seven	seven	NUM
fsr-3177	130	29	portfolios	portfolio	NOUN
fsr-3177	130	30	distributed	distribute	VERB
fsr-3177	130	31	by	by	ADP
fsr-3177	130	32	increments	increment	NOUN
fsr-3177	130	33	of	of	ADP
fsr-3177	130	34	risk	risk	NOUN
fsr-3177	130	35	financial	financial	ADJ
fsr-3177	130	36	services	service	NOUN
fsr-3177	130	37	review	review	NOUN
fsr-3177	130	38	,	,	PUNCT
fsr-3177	130	39	31(4	31(4	NUM
fsr-3177	130	40	)	)	PUNCT
fsr-3177	130	41	254	254	NUM
fsr-3177	130	42	when	when	SCONJ
fsr-3177	130	43	the	the	DET
fsr-3177	130	44	portfolios	portfolio	NOUN
fsr-3177	130	45	were	be	AUX
fsr-3177	130	46	distributed	distribute	VERB
fsr-3177	130	47	by	by	ADP
fsr-3177	130	48	equal	equal	ADJ
fsr-3177	130	49	increments	increment	NOUN
fsr-3177	130	50	of	of	ADP
fsr-3177	130	51	return	return	NOUN
fsr-3177	130	52	(	(	PUNCT
fsr-3177	130	53	figure	figure	NOUN
fsr-3177	130	54	4	4	NUM
fsr-3177	130	55	)	)	PUNCT
fsr-3177	130	56	,	,	PUNCT
fsr-3177	130	57	we	we	PRON
fsr-3177	130	58	ended	end	VERB
fsr-3177	130	59	up	up	ADP
fsr-3177	130	60	with	with	ADP
fsr-3177	130	61	a	a	DET
fsr-3177	130	62	more	more	ADV
fsr-3177	130	63	balanced	balanced	ADJ
fsr-3177	130	64	distribution	distribution	NOUN
fsr-3177	130	65	of	of	ADP
fsr-3177	130	66	fixed	fix	VERB
fsr-3177	130	67	income	income	NOUN
fsr-3177	130	68	and	and	CCONJ
fsr-3177	130	69	equity	equity	NOUN
fsr-3177	130	70	positions	position	NOUN
fsr-3177	130	71	for	for	ADP
fsr-3177	130	72	the	the	DET
fsr-3177	130	73	seven	seven	NUM
fsr-3177	130	74	portfolios	portfolio	NOUN
fsr-3177	130	75	for	for	ADP
fsr-3177	130	76	each	each	DET
fsr-3177	130	77	country	country	NOUN
fsr-3177	130	78	.	.	PUNCT
fsr-3177	131	1	in	in	ADP
fsr-3177	131	2	australia	australia	PROPN
fsr-3177	131	3	and	and	CCONJ
fsr-3177	131	4	the	the	DET
fsr-3177	131	5	united	united	ADJ
fsr-3177	131	6	kingdom	kingdom	PROPN
fsr-3177	131	7	there	there	PRON
fsr-3177	131	8	were	be	VERB
fsr-3177	131	9	some	some	DET
fsr-3177	131	10	fixed	fix	VERB
fsr-3177	131	11	income	income	NOUN
fsr-3177	131	12	assets	asset	NOUN
fsr-3177	131	13	up	up	ADP
fsr-3177	131	14	to	to	ADP
fsr-3177	131	15	and	and	CCONJ
fsr-3177	131	16	including	include	VERB
fsr-3177	131	17	portfolio	portfolio	NOUN
fsr-3177	131	18	6	6	NUM
fsr-3177	131	19	of	of	ADP
fsr-3177	131	20	the	the	DET
fsr-3177	131	21	seven	seven	NUM
fsr-3177	131	22	portfolios	portfolio	NOUN
fsr-3177	131	23	and	and	CCONJ
fsr-3177	131	24	into	into	ADP
fsr-3177	131	25	portfolio	portfolio	NOUN
fsr-3177	131	26	5	5	NUM
fsr-3177	131	27	for	for	ADP
fsr-3177	131	28	canada	canada	PROPN
fsr-3177	131	29	and	and	CCONJ
fsr-3177	131	30	the	the	DET
fsr-3177	131	31	united	united	PROPN
fsr-3177	131	32	states	states	PROPN
fsr-3177	131	33	.	.	PUNCT
fsr-3177	132	1	figure	figure	VERB
fsr-3177	132	2	4	4	NUM
fsr-3177	132	3	.	.	PUNCT
fsr-3177	132	4	defensive	defensive	ADJ
fsr-3177	132	5	vs	vs	ADP
fsr-3177	132	6	growth	growth	NOUN
fsr-3177	132	7	distributions	distribution	NOUN
fsr-3177	132	8	based	base	VERB
fsr-3177	132	9	on	on	ADP
fsr-3177	132	10	even	even	ADV
fsr-3177	132	11	return	return	VERB
fsr-3177	132	12	distribution	distribution	NOUN
fsr-3177	132	13	for	for	ADP
fsr-3177	132	14	the	the	DET
fsr-3177	132	15	balance	balance	NOUN
fsr-3177	132	16	of	of	ADP
fsr-3177	132	17	the	the	DET
fsr-3177	132	18	analysis	analysis	NOUN
fsr-3177	132	19	,	,	PUNCT
fsr-3177	132	20	we	we	PRON
fsr-3177	132	21	compared	compare	VERB
fsr-3177	132	22	the	the	DET
fsr-3177	132	23	seven	seven	NUM
fsr-3177	132	24	portfolios	portfolio	NOUN
fsr-3177	132	25	constructed	construct	VERB
fsr-3177	132	26	by	by	ADP
fsr-3177	132	27	the	the	DET
fsr-3177	132	28	return	return	NOUN
fsr-3177	132	29	distribution	distribution	NOUN
fsr-3177	132	30	to	to	ADP
fsr-3177	132	31	the	the	DET
fsr-3177	132	32	four	four	NUM
fsr-3177	132	33	methodologies	methodology	NOUN
fsr-3177	132	34	and	and	CCONJ
fsr-3177	132	35	did	do	AUX
fsr-3177	132	36	not	not	PART
fsr-3177	132	37	utilize	utilize	VERB
fsr-3177	132	38	the	the	DET
fsr-3177	132	39	risk	risk	NOUN
fsr-3177	132	40	distributed	distribute	VERB
fsr-3177	132	41	portfolios	portfolio	NOUN
fsr-3177	132	42	.	.	PUNCT
fsr-3177	133	1	the	the	DET
fsr-3177	133	2	return	return	NOUN
fsr-3177	133	3	distributed	distribute	VERB
fsr-3177	133	4	portfolios	portfolio	NOUN
fsr-3177	133	5	more	more	ADV
fsr-3177	133	6	closely	closely	ADV
fsr-3177	133	7	reflect	reflect	VERB
fsr-3177	133	8	actual	actual	ADJ
fsr-3177	133	9	behaviour	behaviour	NOUN
fsr-3177	133	10	in	in	ADP
fsr-3177	133	11	the	the	DET
fsr-3177	133	12	marketplace	marketplace	NOUN
fsr-3177	133	13	and	and	CCONJ
fsr-3177	133	14	expectations	expectation	NOUN
fsr-3177	133	15	of	of	ADP
fsr-3177	133	16	regulators	regulator	NOUN
fsr-3177	133	17	.	.	PUNCT
fsr-3177	134	1	comparing	compare	VERB
fsr-3177	134	2	expected	expect	VERB
fsr-3177	134	3	equity	equity	NOUN
fsr-3177	134	4	and	and	CCONJ
fsr-3177	134	5	the	the	DET
fsr-3177	134	6	efficient	efficient	ADJ
fsr-3177	134	7	portfolios	portfolio	NOUN
fsr-3177	134	8	davey	davey	NOUN
fsr-3177	134	9	(	(	PUNCT
fsr-3177	134	10	2015	2015	NUM
fsr-3177	134	11	)	)	PUNCT
fsr-3177	134	12	used	use	VERB
fsr-3177	134	13	80,000	80,000	NUM
fsr-3177	134	14	responses	response	NOUN
fsr-3177	134	15	to	to	ADP
fsr-3177	134	16	the	the	DET
fsr-3177	134	17	finametrica	finametrica	ADJ
fsr-3177	134	18	risk	risk	NOUN
fsr-3177	134	19	-	-	PUNCT
fsr-3177	134	20	tolerance	tolerance	NOUN
fsr-3177	134	21	assessment	assessment	NOUN
fsr-3177	134	22	.	.	PUNCT
fsr-3177	135	1	one	one	NUM
fsr-3177	135	2	of	of	ADP
fsr-3177	135	3	the	the	DET
fsr-3177	135	4	questions	question	NOUN
fsr-3177	135	5	asks	ask	VERB
fsr-3177	135	6	individuals	individual	NOUN
fsr-3177	135	7	how	how	SCONJ
fsr-3177	135	8	much	much	ADV
fsr-3177	135	9	they	they	PRON
fsr-3177	135	10	expect	expect	VERB
fsr-3177	135	11	in	in	ADP
fsr-3177	135	12	high	high	ADJ
fsr-3177	135	13	risk	risk	NOUN
fsr-3177	135	14	,	,	PUNCT
fsr-3177	135	15	medium	medium	ADJ
fsr-3177	135	16	risk	risk	NOUN
fsr-3177	135	17	,	,	PUNCT
fsr-3177	135	18	or	or	CCONJ
fsr-3177	135	19	low	low	ADJ
fsr-3177	135	20	risk	risk	NOUN
fsr-3177	135	21	investments	investment	NOUN
fsr-3177	135	22	.	.	PUNCT
fsr-3177	136	1	davey	davey	NOUN
fsr-3177	136	2	proposed	propose	VERB
fsr-3177	136	3	that	that	SCONJ
fsr-3177	136	4	high	high	ADJ
fsr-3177	136	5	risk	risk	NOUN
fsr-3177	136	6	was	be	AUX
fsr-3177	136	7	100	100	NUM
fsr-3177	136	8	%	%	NOUN
fsr-3177	136	9	equities	equity	NOUN
fsr-3177	136	10	(	(	PUNCT
fsr-3177	136	11	growth	growth	NOUN
fsr-3177	136	12	assets	asset	NOUN
fsr-3177	136	13	)	)	PUNCT
fsr-3177	136	14	,	,	PUNCT
fsr-3177	136	15	low	low	ADJ
fsr-3177	136	16	risk	risk	NOUN
fsr-3177	136	17	was	be	AUX
fsr-3177	136	18	100	100	NUM
fsr-3177	136	19	%	%	NOUN
fsr-3177	136	20	defensive	defensive	ADJ
fsr-3177	136	21	(	(	PUNCT
fsr-3177	136	22	i.e.	i.e.	X
fsr-3177	136	23	,	,	PUNCT
fsr-3177	136	24	cash	cash	NOUN
fsr-3177	136	25	&	&	CCONJ
fsr-3177	136	26	bonds	bond	NOUN
fsr-3177	136	27	)	)	PUNCT
fsr-3177	136	28	,	,	PUNCT
fsr-3177	136	29	and	and	CCONJ
fsr-3177	136	30	medium	medium	ADJ
fsr-3177	136	31	risk	risk	NOUN
fsr-3177	136	32	was	be	AUX
fsr-3177	136	33	a	a	DET
fsr-3177	136	34	50/50	50/50	NUM
fsr-3177	136	35	split	split	NOUN
fsr-3177	136	36	between	between	ADP
fsr-3177	136	37	equities	equity	NOUN
fsr-3177	136	38	and	and	CCONJ
fsr-3177	136	39	defensive	defensive	ADJ
fsr-3177	136	40	assets	asset	NOUN
fsr-3177	136	41	.	.	PUNCT
fsr-3177	137	1	davey	davey	NOUN
fsr-3177	137	2	then	then	ADV
fsr-3177	137	3	mapped	map	VERB
fsr-3177	137	4	the	the	DET
fsr-3177	137	5	expected	expect	VERB
fsr-3177	137	6	growth	growth	NOUN
fsr-3177	137	7	assets	asset	NOUN
fsr-3177	137	8	for	for	ADP
fsr-3177	137	9	each	each	DET
fsr-3177	137	10	risk	risk	NOUN
fsr-3177	137	11	score	score	NOUN
fsr-3177	137	12	.	.	PUNCT
fsr-3177	138	1	figure	figure	NOUN
fsr-3177	138	2	5	5	NUM
fsr-3177	138	3	shows	show	VERB
fsr-3177	138	4	the	the	DET
fsr-3177	138	5	level	level	NOUN
fsr-3177	138	6	of	of	ADP
fsr-3177	138	7	expected	expect	VERB
fsr-3177	138	8	equity	equity	NOUN
fsr-3177	138	9	exposure	exposure	NOUN
fsr-3177	138	10	on	on	ADP
fsr-3177	138	11	the	the	DET
fsr-3177	138	12	y	y	NOUN
fsr-3177	138	13	-	-	PUNCT
fsr-3177	138	14	axis	axis	NOUN
fsr-3177	138	15	compared	compare	VERB
fsr-3177	138	16	to	to	ADP
fsr-3177	138	17	the	the	DET
fsr-3177	138	18	risk	risk	NOUN
fsr-3177	138	19	tolerance	tolerance	NOUN
fsr-3177	138	20	of	of	ADP
fsr-3177	138	21	investors	investor	NOUN
fsr-3177	138	22	.	.	PUNCT
fsr-3177	139	1	brayman	brayman	NOUN
fsr-3177	139	2	et	et	PROPN
fsr-3177	139	3	al	al	PROPN
fsr-3177	139	4	.	.	PUNCT
fsr-3177	139	5	255	255	NUM
fsr-3177	139	6	figure	figure	NOUN
fsr-3177	139	7	5	5	NUM
fsr-3177	139	8	.	.	PUNCT
fsr-3177	140	1	consumer	consumer	NOUN
fsr-3177	140	2	expected	expect	VERB
fsr-3177	140	3	growth	growth	NOUN
fsr-3177	140	4	asset	asset	NOUN
fsr-3177	140	5	exposure	exposure	NOUN
fsr-3177	140	6	based	base	VERB
fsr-3177	140	7	on	on	ADP
fsr-3177	140	8	risk	risk	NOUN
fsr-3177	140	9	tolerance5	tolerance5	NOUN
fsr-3177	140	10	for	for	ADP
fsr-3177	140	11	the	the	DET
fsr-3177	140	12	analysis	analysis	NOUN
fsr-3177	140	13	,	,	PUNCT
fsr-3177	140	14	we	we	PRON
fsr-3177	140	15	compared	compare	VERB
fsr-3177	140	16	the	the	DET
fsr-3177	140	17	expected	expect	VERB
fsr-3177	140	18	equity	equity	NOUN
fsr-3177	140	19	assets	asset	NOUN
fsr-3177	140	20	using	use	VERB
fsr-3177	140	21	davey	davey	NOUN
fsr-3177	140	22	’s	’s	PART
fsr-3177	140	23	(	(	PUNCT
fsr-3177	140	24	2015	2015	NUM
fsr-3177	140	25	)	)	PUNCT
fsr-3177	140	26	methodology	methodology	NOUN
fsr-3177	140	27	based	base	VERB
fsr-3177	140	28	on	on	ADP
fsr-3177	140	29	the	the	DET
fsr-3177	140	30	mid	mid	NOUN
fsr-3177	140	31	-	-	NOUN
fsr-3177	140	32	range	range	NOUN
fsr-3177	140	33	of	of	ADP
fsr-3177	140	34	the	the	DET
fsr-3177	140	35	seven	seven	NUM
fsr-3177	140	36	risk	risk	NOUN
fsr-3177	140	37	-	-	PUNCT
fsr-3177	140	38	profile	profile	NOUN
fsr-3177	140	39	bands	band	NOUN
fsr-3177	140	40	,	,	PUNCT
fsr-3177	140	41	to	to	ADP
fsr-3177	140	42	the	the	DET
fsr-3177	140	43	efficient	efficient	ADJ
fsr-3177	140	44	portfolios	portfolio	NOUN
fsr-3177	140	45	that	that	PRON
fsr-3177	140	46	were	be	AUX
fsr-3177	140	47	constructed	construct	VERB
fsr-3177	140	48	based	base	VERB
fsr-3177	140	49	on	on	ADP
fsr-3177	140	50	distribution	distribution	NOUN
fsr-3177	140	51	by	by	ADP
fsr-3177	140	52	returns	return	NOUN
fsr-3177	140	53	(	(	PUNCT
fsr-3177	140	54	figure	figure	NOUN
fsr-3177	140	55	1	1	NUM
fsr-3177	140	56	)	)	PUNCT
fsr-3177	140	57	.	.	PUNCT
fsr-3177	141	1	note	note	VERB
fsr-3177	141	2	that	that	SCONJ
fsr-3177	141	3	an	an	DET
fsr-3177	141	4	updated	update	VERB
fsr-3177	141	5	version	version	NOUN
fsr-3177	141	6	of	of	ADP
fsr-3177	141	7	davey	davey	NOUN
fsr-3177	141	8	’s	’s	PART
fsr-3177	141	9	methodology	methodology	NOUN
fsr-3177	141	10	based	base	VERB
fsr-3177	141	11	on	on	ADP
fsr-3177	141	12	2022	2022	NUM
fsr-3177	141	13	data	datum	NOUN
fsr-3177	141	14	is	be	AUX
fsr-3177	141	15	used	use	VERB
fsr-3177	141	16	.	.	PUNCT
fsr-3177	142	1	table	table	NOUN
fsr-3177	142	2	2	2	NUM
fsr-3177	142	3	shows	show	VERB
fsr-3177	142	4	the	the	DET
fsr-3177	142	5	expected	expected	ADJ
fsr-3177	142	6	maximum	maximum	ADJ
fsr-3177	142	7	equity	equity	NOUN
fsr-3177	142	8	exposure	exposure	NOUN
fsr-3177	142	9	and	and	CCONJ
fsr-3177	142	10	the	the	DET
fsr-3177	142	11	downside	downside	ADJ
fsr-3177	142	12	drop	drop	NOUN
fsr-3177	142	13	in	in	ADP
fsr-3177	142	14	the	the	DET
fsr-3177	142	15	value	value	NOUN
fsr-3177	142	16	of	of	ADP
fsr-3177	142	17	investments	investment	NOUN
fsr-3177	142	18	at	at	ADP
fsr-3177	142	19	which	which	DET
fsr-3177	142	20	point	point	NOUN
fsr-3177	142	21	an	an	DET
fsr-3177	142	22	investor	investor	NOUN
fsr-3177	142	23	was	be	AUX
fsr-3177	142	24	deemed	deem	VERB
fsr-3177	142	25	to	to	PART
fsr-3177	142	26	start	start	VERB
fsr-3177	142	27	to	to	PART
fsr-3177	142	28	become	become	VERB
fsr-3177	142	29	uncomfortable	uncomfortable	ADJ
fsr-3177	142	30	.	.	PUNCT
fsr-3177	143	1	table	table	NOUN
fsr-3177	143	2	2	2	NUM
fsr-3177	143	3	.	.	NOUN
fsr-3177	143	4	ranges	range	NOUN
fsr-3177	143	5	of	of	ADP
fsr-3177	143	6	equity	equity	NOUN
fsr-3177	143	7	or	or	CCONJ
fsr-3177	143	8	decline	decline	VERB
fsr-3177	143	9	in	in	ADP
fsr-3177	143	10	value	value	NOUN
fsr-3177	143	11	by	by	ADP
fsr-3177	143	12	seven	seven	NUM
fsr-3177	143	13	risk	risk	NOUN
fsr-3177	143	14	bands	band	NOUN
fsr-3177	143	15	table	table	NOUN
fsr-3177	143	16	3	3	NUM
fsr-3177	143	17	illustrates	illustrate	VERB
fsr-3177	143	18	the	the	DET
fsr-3177	143	19	seven	seven	NUM
fsr-3177	143	20	efficient	efficient	ADJ
fsr-3177	143	21	portfolios	portfolio	NOUN
fsr-3177	143	22	constructed	construct	VERB
fsr-3177	143	23	for	for	ADP
fsr-3177	143	24	each	each	DET
fsr-3177	143	25	country	country	NOUN
fsr-3177	143	26	by	by	ADP
fsr-3177	143	27	the	the	DET
fsr-3177	143	28	equity	equity	NOUN
fsr-3177	143	29	exposure	exposure	NOUN
fsr-3177	143	30	.	.	PUNCT
fsr-3177	144	1	the	the	DET
fsr-3177	144	2	distribution	distribution	NOUN
fsr-3177	144	3	of	of	ADP
fsr-3177	144	4	the	the	DET
fsr-3177	144	5	portfolio	portfolio	NOUN
fsr-3177	144	6	mappings	mapping	NOUN
fsr-3177	144	7	is	be	AUX
fsr-3177	144	8	very	very	ADV
fsr-3177	144	9	consistent	consistent	ADJ
fsr-3177	144	10	across	across	ADP
fsr-3177	144	11	all	all	DET
fsr-3177	144	12	countries	country	NOUN
fsr-3177	144	13	,	,	PUNCT
fsr-3177	144	14	matching	match	VERB
fsr-3177	144	15	the	the	DET
fsr-3177	144	16	davey	davey	NOUN
fsr-3177	144	17	(	(	PUNCT
fsr-3177	144	18	2015	2015	NUM
fsr-3177	144	19	)	)	PUNCT
fsr-3177	144	20	methodology	methodology	NOUN
fsr-3177	144	21	,	,	PUNCT
fsr-3177	144	22	which	which	PRON
fsr-3177	144	23	was	be	AUX
fsr-3177	144	24	based	base	VERB
fsr-3177	144	25	on	on	ADP
fsr-3177	144	26	expected	expect	VERB
fsr-3177	144	27	equity	equity	NOUN
fsr-3177	144	28	within	within	ADP
fsr-3177	144	29	the	the	DET
fsr-3177	144	30	portfolio	portfolio	NOUN
fsr-3177	144	31	.	.	PUNCT
fsr-3177	145	1	not	not	PART
fsr-3177	145	2	surprisingly	surprisingly	ADV
fsr-3177	145	3	,	,	PUNCT
fsr-3177	145	4	portfolio	portfolio	NOUN
fsr-3177	145	5	6	6	NUM
fsr-3177	145	6	and	and	CCONJ
fsr-3177	145	7	portfolio	portfolio	NOUN
fsr-3177	145	8	7	7	NUM
fsr-3177	145	9	both	both	PRON
fsr-3177	145	10	mapped	map	VERB
fsr-3177	145	11	to	to	PART
fsr-3177	145	12	risk	risk	VERB
fsr-3177	145	13	band	band	NOUN
fsr-3177	145	14	seven	seven	NUM
fsr-3177	145	15	as	as	SCONJ
fsr-3177	145	16	they	they	PRON
fsr-3177	145	17	were	be	AUX
fsr-3177	145	18	93	93	NUM
fsr-3177	145	19	%	%	NOUN
fsr-3177	145	20	equity	equity	NOUN
fsr-3177	145	21	or	or	CCONJ
fsr-3177	145	22	higher	high	ADJ
fsr-3177	145	23	.	.	PUNCT
fsr-3177	146	1	5	5	NUM
fsr-3177	146	2	https://riskprofiling.com/downloads/asset_allocation_mappings_guide_v3.pdf	https://riskprofiling.com/downloads/asset_allocation_mappings_guide_v3.pdf	NUM
fsr-3177	146	3	expected	expect	VERB
fsr-3177	146	4	equity	equity	NOUN
fsr-3177	146	5	exposure	exposure	NOUN
fsr-3177	146	6	or	or	CCONJ
fsr-3177	146	7	decline	decline	NOUN
fsr-3177	146	8	portfolio	portfolio	NOUN
fsr-3177	146	9	max	max	PROPN
fsr-3177	146	10	equity	equity	PROPN
fsr-3177	146	11	maximum	maximum	PROPN
fsr-3177	146	12	decline	decline	PROPN
fsr-3177	146	13	1	1	NUM
fsr-3177	146	14	8	8	NUM
fsr-3177	146	15	%	%	NOUN
fsr-3177	146	16	3	3	NUM
fsr-3177	146	17	%	%	NOUN
fsr-3177	146	18	2	2	NUM
fsr-3177	146	19	20	20	NUM
fsr-3177	146	20	%	%	NOUN
fsr-3177	146	21	8	8	NUM
fsr-3177	146	22	%	%	NOUN
fsr-3177	146	23	3	3	NUM
fsr-3177	146	24	35	35	NUM
fsr-3177	146	25	%	%	NOUN
fsr-3177	146	26	16	16	NUM
fsr-3177	146	27	%	%	NOUN
fsr-3177	146	28	4	4	NUM
fsr-3177	146	29	52	52	NUM
fsr-3177	146	30	%	%	NOUN
fsr-3177	146	31	24	24	NUM
fsr-3177	146	32	%	%	NOUN
fsr-3177	146	33	5	5	NUM
fsr-3177	146	34	69	69	NUM
fsr-3177	146	35	%	%	NOUN
fsr-3177	146	36	34	34	NUM
fsr-3177	146	37	%	%	NOUN
fsr-3177	146	38	6	6	NUM
fsr-3177	146	39	83	83	NUM
fsr-3177	146	40	%	%	NOUN
fsr-3177	146	41	45	45	NUM
fsr-3177	146	42	%	%	NOUN
fsr-3177	146	43	7	7	NUM
fsr-3177	146	44	100	100	NUM
fsr-3177	146	45	%	%	NOUN
fsr-3177	146	46	72	72	NUM
fsr-3177	146	47	%	%	NOUN
fsr-3177	146	48	https://urldefense.com/v3/__https:/riskprofiling.com/downloads/asset_allocation_mappings_guide_v3.pdf__;!!d8dunmsj4idr!94nip9xi02vceko1mx9kkz6n6dserrmnhoaq-ajvi244wxxcgbogxd11s5ofjdsuna7fcthktaj3jbn25susjapxefw$	https://urldefense.com/v3/__https:/riskprofiling.com/downloads/asset_allocation_mappings_guide_v3.pdf__;!!d8dunmsj4idr!94nip9xi02vceko1mx9kkz6n6dserrmnhoaq-ajvi244wxxcgbogxd11s5ofjdsuna7fcthktaj3jbn25susjapxefw$	PROPN
fsr-3177	146	49	financial	financial	ADJ
fsr-3177	146	50	services	service	NOUN
fsr-3177	146	51	review	review	NOUN
fsr-3177	146	52	,	,	PUNCT
fsr-3177	146	53	31(4	31(4	NUM
fsr-3177	146	54	)	)	PUNCT
fsr-3177	146	55	256	256	NUM
fsr-3177	146	56	table	table	NOUN
fsr-3177	146	57	3	3	NUM
fsr-3177	146	58	.	.	PUNCT
fsr-3177	146	59	comparison	comparison	NOUN
fsr-3177	146	60	of	of	ADP
fsr-3177	146	61	expected	expect	VERB
fsr-3177	146	62	equity	equity	NOUN
fsr-3177	146	63	vs.	vs.	ADP
fsr-3177	146	64	efficient	efficient	ADJ
fsr-3177	146	65	portfolios	portfolio	NOUN
fsr-3177	146	66	equity	equity	NOUN
fsr-3177	146	67	mapped	map	VERB
fsr-3177	146	68	to	to	ADP
fsr-3177	146	69	bands	band	NOUN
fsr-3177	146	70	equity	equity	NOUN
fsr-3177	146	71	of	of	ADP
fsr-3177	146	72	7	7	NUM
fsr-3177	146	73	portfolios	portfolio	NOUN
fsr-3177	146	74	mapped	map	VERB
fsr-3177	146	75	risk	risk	NOUN
fsr-3177	146	76	band	band	NOUN
fsr-3177	146	77	portfolio	portfolio	NOUN
fsr-3177	146	78	australia	australia	PROPN
fsr-3177	146	79	canada	canada	PROPN
fsr-3177	146	80	united	united	PROPN
fsr-3177	146	81	kingdom	kingdom	PROPN
fsr-3177	146	82	u.s	u.s	PROPN
fsr-3177	146	83	.	.	PROPN
fsr-3177	146	84	australia	australia	PROPN
fsr-3177	146	85	canada	canada	PROPN
fsr-3177	146	86	united	united	PROPN
fsr-3177	146	87	kingdom	kingdom	PROPN
fsr-3177	146	88	u.s	u.s	PROPN
fsr-3177	146	89	.	.	PROPN
fsr-3177	146	90	1	1	NUM
fsr-3177	146	91	7	7	NUM
fsr-3177	146	92	%	%	NOUN
fsr-3177	146	93	7	7	NUM
fsr-3177	146	94	%	%	NOUN
fsr-3177	146	95	7	7	NUM
fsr-3177	146	96	%	%	NOUN
fsr-3177	146	97	5	5	NUM
fsr-3177	146	98	%	%	NOUN
fsr-3177	146	99	1	1	NUM
fsr-3177	146	100	1	1	NUM
fsr-3177	146	101	1	1	NUM
fsr-3177	146	102	1	1	NUM
fsr-3177	146	103	2	2	NUM
fsr-3177	146	104	24	24	NUM
fsr-3177	146	105	%	%	NOUN
fsr-3177	146	106	24	24	NUM
fsr-3177	146	107	%	%	NOUN
fsr-3177	146	108	21	21	NUM
fsr-3177	146	109	%	%	NOUN
fsr-3177	146	110	21	21	NUM
fsr-3177	146	111	%	%	NOUN
fsr-3177	146	112	3	3	NUM
fsr-3177	146	113	3	3	NUM
fsr-3177	146	114	2	2	NUM
fsr-3177	146	115	2	2	NUM
fsr-3177	146	116	3	3	NUM
fsr-3177	146	117	41	41	NUM
fsr-3177	146	118	%	%	NOUN
fsr-3177	146	119	42	42	NUM
fsr-3177	146	120	%	%	NOUN
fsr-3177	146	121	34	34	NUM
fsr-3177	146	122	%	%	NOUN
fsr-3177	146	123	35	35	NUM
fsr-3177	146	124	%	%	NOUN
fsr-3177	146	125	4	4	NUM
fsr-3177	146	126	4	4	NUM
fsr-3177	146	127	3	3	NUM
fsr-3177	146	128	3	3	NUM
fsr-3177	146	129	4	4	NUM
fsr-3177	146	130	57	57	NUM
fsr-3177	146	131	%	%	NOUN
fsr-3177	146	132	60	60	NUM
fsr-3177	146	133	%	%	NOUN
fsr-3177	146	134	49	49	NUM
fsr-3177	146	135	%	%	NOUN
fsr-3177	146	136	57	57	NUM
fsr-3177	146	137	%	%	NOUN
fsr-3177	146	138	5	5	NUM
fsr-3177	146	139	5	5	NUM
fsr-3177	146	140	4	4	NUM
fsr-3177	146	141	5	5	NUM
fsr-3177	146	142	5	5	NUM
fsr-3177	146	143	75	75	NUM
fsr-3177	146	144	%	%	NOUN
fsr-3177	146	145	81	81	NUM
fsr-3177	146	146	%	%	NOUN
fsr-3177	146	147	71	71	NUM
fsr-3177	146	148	%	%	NOUN
fsr-3177	146	149	82	82	NUM
fsr-3177	146	150	%	%	NOUN
fsr-3177	146	151	6	6	NUM
fsr-3177	146	152	6	6	NUM
fsr-3177	146	153	6	6	NUM
fsr-3177	146	154	6	6	NUM
fsr-3177	146	155	6	6	NUM
fsr-3177	146	156	94	94	NUM
fsr-3177	146	157	%	%	NOUN
fsr-3177	146	158	100	100	NUM
fsr-3177	146	159	%	%	NOUN
fsr-3177	146	160	93	93	NUM
fsr-3177	146	161	%	%	NOUN
fsr-3177	146	162	100	100	NUM
fsr-3177	146	163	%	%	NOUN
fsr-3177	146	164	7	7	NUM
fsr-3177	146	165	7	7	NUM
fsr-3177	146	166	7	7	NUM
fsr-3177	146	167	7	7	NUM
fsr-3177	146	168	7	7	NUM
fsr-3177	146	169	100	100	NUM
fsr-3177	146	170	%	%	NOUN
fsr-3177	146	171	100	100	NUM
fsr-3177	146	172	%	%	NOUN
fsr-3177	146	173	100	100	NUM
fsr-3177	146	174	%	%	NOUN
fsr-3177	146	175	100	100	NUM
fsr-3177	146	176	%	%	NOUN
fsr-3177	146	177	7	7	NUM
fsr-3177	146	178	7	7	NUM
fsr-3177	146	179	7	7	NUM
fsr-3177	146	180	7	7	NUM
fsr-3177	146	181	comparing	compare	VERB
fsr-3177	146	182	downside	downside	ADJ
fsr-3177	146	183	risk	risk	NOUN
fsr-3177	146	184	expectation	expectation	NOUN
fsr-3177	146	185	and	and	CCONJ
fsr-3177	146	186	efficient	efficient	ADJ
fsr-3177	146	187	portfolios	portfolio	NOUN
fsr-3177	146	188	on	on	ADP
fsr-3177	146	189	downside	downside	ADJ
fsr-3177	146	190	risk	risk	NOUN
fsr-3177	146	191	davey	davey	NOUN
fsr-3177	146	192	(	(	PUNCT
fsr-3177	146	193	2015	2015	NUM
fsr-3177	146	194	)	)	PUNCT
fsr-3177	146	195	outlined	outline	VERB
fsr-3177	146	196	the	the	DET
fsr-3177	146	197	expectation	expectation	NOUN
fsr-3177	146	198	for	for	SCONJ
fsr-3177	146	199	investors	investor	NOUN
fsr-3177	146	200	to	to	PART
fsr-3177	146	201	downside	downside	VERB
fsr-3177	146	202	risk	risk	NOUN
fsr-3177	146	203	or	or	CCONJ
fsr-3177	146	204	largest	large	ADJ
fsr-3177	146	205	falls	fall	NOUN
fsr-3177	146	206	(	(	PUNCT
fsr-3177	146	207	methodology	methodology	NOUN
fsr-3177	146	208	2	2	NUM
fsr-3177	146	209	)	)	PUNCT
fsr-3177	146	210	and	and	CCONJ
fsr-3177	146	211	concluded	conclude	VERB
fsr-3177	146	212	that	that	SCONJ
fsr-3177	146	213	it	it	PRON
fsr-3177	146	214	is	be	AUX
fsr-3177	146	215	largely	largely	ADV
fsr-3177	146	216	consistent	consistent	ADJ
fsr-3177	146	217	with	with	ADP
fsr-3177	146	218	expectation	expectation	NOUN
fsr-3177	146	219	of	of	ADP
fsr-3177	146	220	equity	equity	NOUN
fsr-3177	146	221	exposure	exposure	NOUN
fsr-3177	146	222	.	.	PUNCT
fsr-3177	147	1	specifically	specifically	ADV
fsr-3177	147	2	,	,	PUNCT
fsr-3177	147	3	davey	davey	NOUN
fsr-3177	147	4	noted	note	VERB
fsr-3177	147	5	that	that	SCONJ
fsr-3177	147	6	,	,	PUNCT
fsr-3177	147	7	“	"	PUNCT
fsr-3177	147	8	…	…	PUNCT
fsr-3177	147	9	predicted	predict	VERB
fsr-3177	147	10	performance	performance	NOUN
fsr-3177	147	11	is	be	AUX
fsr-3177	147	12	the	the	DET
fsr-3177	147	13	mean	mean	ADJ
fsr-3177	147	14	minus	minus	CCONJ
fsr-3177	147	15	3.5	3.5	NUM
fsr-3177	147	16	standard	standard	ADJ
fsr-3177	147	17	deviations	deviation	NOUN
fsr-3177	147	18	for	for	ADP
fsr-3177	147	19	estimated	estimate	VERB
fsr-3177	147	20	returns	return	NOUN
fsr-3177	147	21	”	"	PUNCT
fsr-3177	147	22	(	(	PUNCT
fsr-3177	147	23	p.	p.	NOUN
fsr-3177	147	24	35	35	NUM
fsr-3177	147	25	)	)	PUNCT
fsr-3177	147	26	.	.	PUNCT
fsr-3177	148	1	the	the	DET
fsr-3177	148	2	use	use	NOUN
fsr-3177	148	3	of	of	ADP
fsr-3177	148	4	3.5	3.5	NUM
fsr-3177	148	5	times	time	NOUN
fsr-3177	148	6	standard	standard	ADJ
fsr-3177	148	7	deviation	deviation	NOUN
fsr-3177	148	8	is	be	AUX
fsr-3177	148	9	atypical	atypical	ADJ
fsr-3177	148	10	and	and	CCONJ
fsr-3177	148	11	reflects	reflect	VERB
fsr-3177	148	12	a	a	DET
fsr-3177	148	13	99.98	99.98	NUM
fsr-3177	148	14	%	%	NOUN
fsr-3177	148	15	certainty	certainty	NOUN
fsr-3177	148	16	or	or	CCONJ
fsr-3177	148	17	1	1	NUM
fsr-3177	148	18	event	event	NOUN
fsr-3177	148	19	in	in	ADP
fsr-3177	148	20	2,149	2,149	NUM
fsr-3177	148	21	years	year	NOUN
fsr-3177	148	22	if	if	SCONJ
fsr-3177	148	23	annualized	annualize	VERB
fsr-3177	148	24	data	datum	NOUN
fsr-3177	148	25	are	be	AUX
fsr-3177	148	26	assumed	assume	VERB
fsr-3177	148	27	.	.	PUNCT
fsr-3177	149	1	most	most	ADJ
fsr-3177	149	2	var	var	NOUN
fsr-3177	149	3	analyses	analysis	NOUN
fsr-3177	149	4	use	use	VERB
fsr-3177	149	5	90	90	NUM
fsr-3177	149	6	%	%	NOUN
fsr-3177	149	7	,	,	PUNCT
fsr-3177	149	8	95	95	NUM
fsr-3177	149	9	%	%	NOUN
fsr-3177	149	10	,	,	PUNCT
fsr-3177	149	11	or	or	CCONJ
fsr-3177	149	12	99	99	NUM
fsr-3177	149	13	%	%	NOUN
fsr-3177	149	14	certainty	certainty	NOUN
fsr-3177	149	15	.	.	PUNCT
fsr-3177	150	1	keeping	keep	VERB
fsr-3177	150	2	in	in	ADP
fsr-3177	150	3	mind	mind	NOUN
fsr-3177	150	4	that	that	SCONJ
fsr-3177	150	5	a	a	DET
fsr-3177	150	6	var	var	NOUN
fsr-3177	150	7	is	be	AUX
fsr-3177	150	8	only	only	ADV
fsr-3177	150	9	concerned	concerned	ADJ
fsr-3177	150	10	about	about	ADP
fsr-3177	150	11	the	the	DET
fsr-3177	150	12	downside	downside	ADJ
fsr-3177	150	13	tail	tail	NOUN
fsr-3177	150	14	,	,	PUNCT
fsr-3177	150	15	we	we	PRON
fsr-3177	150	16	used	use	VERB
fsr-3177	150	17	the	the	DET
fsr-3177	150	18	following	follow	VERB
fsr-3177	150	19	multipliers	multiplier	NOUN
fsr-3177	150	20	:	:	PUNCT
fsr-3177	150	21	1.28	1.28	NUM
fsr-3177	150	22	,	,	PUNCT
fsr-3177	150	23	1.65	1.65	NUM
fsr-3177	150	24	,	,	PUNCT
fsr-3177	150	25	and	and	CCONJ
fsr-3177	150	26	2.33	2.33	NUM
fsr-3177	150	27	times	time	NOUN
fsr-3177	150	28	the	the	DET
fsr-3177	150	29	standard	standard	ADJ
fsr-3177	150	30	deviation	deviation	NOUN
fsr-3177	150	31	for	for	ADP
fsr-3177	150	32	90	90	NUM
fsr-3177	150	33	%	%	NOUN
fsr-3177	150	34	,	,	PUNCT
fsr-3177	150	35	95	95	NUM
fsr-3177	150	36	%	%	NOUN
fsr-3177	150	37	,	,	PUNCT
fsr-3177	150	38	and	and	CCONJ
fsr-3177	150	39	99	99	NUM
fsr-3177	150	40	%	%	NOUN
fsr-3177	150	41	,	,	PUNCT
fsr-3177	150	42	respectively	respectively	ADV
fsr-3177	150	43	,	,	PUNCT
fsr-3177	150	44	to	to	PART
fsr-3177	150	45	calculate	calculate	VERB
fsr-3177	150	46	the	the	DET
fsr-3177	150	47	var	var	NOUN
fsr-3177	150	48	,	,	PUNCT
fsr-3177	150	49	depending	depend	VERB
fsr-3177	150	50	on	on	ADP
fsr-3177	150	51	the	the	DET
fsr-3177	150	52	level	level	NOUN
fsr-3177	150	53	of	of	ADP
fsr-3177	150	54	certainty	certainty	NOUN
fsr-3177	150	55	desired	desire	VERB
fsr-3177	150	56	.	.	PUNCT
fsr-3177	151	1	when	when	SCONJ
fsr-3177	151	2	the	the	DET
fsr-3177	151	3	seven	seven	NUM
fsr-3177	151	4	portfolios	portfolio	NOUN
fsr-3177	151	5	for	for	ADP
fsr-3177	151	6	the	the	DET
fsr-3177	151	7	four	four	NUM
fsr-3177	151	8	countries	country	NOUN
fsr-3177	151	9	were	be	AUX
fsr-3177	151	10	mapped	map	VERB
fsr-3177	151	11	to	to	ADP
fsr-3177	151	12	the	the	DET
fsr-3177	151	13	same	same	ADJ
fsr-3177	151	14	seven	seven	NUM
fsr-3177	151	15	risk	risk	NOUN
fsr-3177	151	16	bands	band	NOUN
fsr-3177	151	17	a	a	DET
fsr-3177	151	18	relatively	relatively	ADV
fsr-3177	151	19	clear	clear	ADJ
fsr-3177	151	20	distribution	distribution	NOUN
fsr-3177	151	21	emerged	emerge	VERB
fsr-3177	151	22	.	.	PUNCT
fsr-3177	152	1	the	the	DET
fsr-3177	152	2	united	united	PROPN
fsr-3177	152	3	kingdom	kingdom	PROPN
fsr-3177	152	4	seems	seem	VERB
fsr-3177	152	5	to	to	PART
fsr-3177	152	6	require	require	VERB
fsr-3177	152	7	additional	additional	ADJ
fsr-3177	152	8	risk	risk	NOUN
fsr-3177	152	9	to	to	PART
fsr-3177	152	10	achieve	achieve	VERB
fsr-3177	152	11	incremental	incremental	ADJ
fsr-3177	152	12	increases	increase	NOUN
fsr-3177	152	13	in	in	ADP
fsr-3177	152	14	the	the	DET
fsr-3177	152	15	return	return	NOUN
fsr-3177	152	16	.	.	PUNCT
fsr-3177	153	1	the	the	DET
fsr-3177	153	2	downside	downside	ADJ
fsr-3177	153	3	expectations	expectation	NOUN
fsr-3177	153	4	shown	show	VERB
fsr-3177	153	5	in	in	ADP
fsr-3177	153	6	table	table	NOUN
fsr-3177	153	7	4	4	NUM
fsr-3177	153	8	are	be	AUX
fsr-3177	153	9	based	base	VERB
fsr-3177	153	10	on	on	ADP
fsr-3177	153	11	an	an	DET
fsr-3177	153	12	updated	update	VERB
fsr-3177	153	13	version	version	NOUN
fsr-3177	153	14	of	of	ADP
fsr-3177	153	15	davey	davey	NOUN
fsr-3177	153	16	’s	’s	PART
fsr-3177	153	17	(	(	PUNCT
fsr-3177	153	18	2015	2015	NUM
fsr-3177	153	19	)	)	PUNCT
fsr-3177	153	20	methodology	methodology	NOUN
fsr-3177	153	21	(	(	PUNCT
fsr-3177	153	22	i.e.	i.e.	X
fsr-3177	153	23	,	,	PUNCT
fsr-3177	153	24	updated	update	VERB
fsr-3177	153	25	with	with	ADP
fsr-3177	153	26	2022	2022	NUM
fsr-3177	153	27	data	datum	NOUN
fsr-3177	153	28	)	)	PUNCT
fsr-3177	153	29	.	.	PUNCT
fsr-3177	154	1	table	table	NOUN
fsr-3177	154	2	4	4	NUM
fsr-3177	154	3	.	.	PUNCT
fsr-3177	154	4	comparison	comparison	NOUN
fsr-3177	154	5	of	of	ADP
fsr-3177	154	6	downside	downside	ADJ
fsr-3177	154	7	expectation	expectation	NOUN
fsr-3177	154	8	vs	vs	ADP
fsr-3177	154	9	efficient	efficient	ADJ
fsr-3177	154	10	portfolios	portfolio	NOUN
fsr-3177	154	11	at	at	ADP
fsr-3177	154	12	3.5x	3.5x	NUM
fsr-3177	154	13	sd	sd	NOUN
fsr-3177	154	14	var	var	NOUN
fsr-3177	154	15	@	@	ADP
fsr-3177	154	16	3.5x	3.5x	NUM
fsr-3177	154	17	mapping	mapping	NOUN
fsr-3177	154	18	to	to	ADP
fsr-3177	154	19	7	7	NUM
fsr-3177	154	20	risk	risk	NOUN
fsr-3177	154	21	bands	band	NOUN
fsr-3177	154	22	port	port	VERB
fsr-3177	154	23	largest	large	ADJ
fsr-3177	154	24	downside	downside	ADJ
fsr-3177	154	25	aus	aus	PROPN
fsr-3177	154	26	can	can	AUX
fsr-3177	154	27	u.k	u.k	PROPN
fsr-3177	154	28	.	.	PROPN
fsr-3177	154	29	u.s	u.s	PROPN
fsr-3177	154	30	.	.	PROPN
fsr-3177	154	31	aus	aus	PROPN
fsr-3177	154	32	can	can	AUX
fsr-3177	154	33	u.k	u.k	PROPN
fsr-3177	154	34	.	.	PROPN
fsr-3177	154	35	u.s	u.s	PROPN
fsr-3177	154	36	.	.	PROPN
fsr-3177	154	37	1	1	NUM
fsr-3177	154	38	3.0	3.0	NUM
fsr-3177	154	39	%	%	NOUN
fsr-3177	154	40	7.8	7.8	NUM
fsr-3177	154	41	%	%	NOUN
fsr-3177	154	42	6.9	6.9	NUM
fsr-3177	154	43	%	%	NOUN
fsr-3177	154	44	7.2	7.2	NUM
fsr-3177	154	45	%	%	NOUN
fsr-3177	154	46	6.5	6.5	NUM
fsr-3177	154	47	%	%	NOUN
fsr-3177	154	48	2	2	NUM
fsr-3177	154	49	2	2	NUM
fsr-3177	154	50	2	2	NUM
fsr-3177	154	51	2	2	NUM
fsr-3177	154	52	2	2	NUM
fsr-3177	154	53	8.0	8.0	NUM
fsr-3177	154	54	%	%	NOUN
fsr-3177	154	55	11.5	11.5	NUM
fsr-3177	154	56	%	%	NOUN
fsr-3177	154	57	9.1	9.1	NUM
fsr-3177	154	58	%	%	NOUN
fsr-3177	154	59	11.0	11.0	NUM
fsr-3177	154	60	%	%	NOUN
fsr-3177	154	61	10.3	10.3	NUM
fsr-3177	154	62	%	%	NOUN
fsr-3177	154	63	3	3	NUM
fsr-3177	154	64	3	3	NUM
fsr-3177	154	65	3	3	NUM
fsr-3177	154	66	3	3	NUM
fsr-3177	154	67	3	3	NUM
fsr-3177	154	68	16.0	16.0	NUM
fsr-3177	154	69	%	%	NOUN
fsr-3177	154	70	20.0	20.0	NUM
fsr-3177	154	71	%	%	NOUN
fsr-3177	154	72	16.5	16.5	NUM
fsr-3177	154	73	%	%	NOUN
fsr-3177	154	74	19.9	19.9	NUM
fsr-3177	154	75	%	%	NOUN
fsr-3177	154	76	17.3	17.3	NUM
fsr-3177	154	77	%	%	NOUN
fsr-3177	154	78	4	4	NUM
fsr-3177	154	79	4	4	NUM
fsr-3177	154	80	4	4	NUM
fsr-3177	154	81	4	4	NUM
fsr-3177	154	82	4	4	NUM
fsr-3177	154	83	24.0	24.0	NUM
fsr-3177	154	84	%	%	NOUN
fsr-3177	154	85	30.3	30.3	NUM
fsr-3177	154	86	%	%	NOUN
fsr-3177	154	87	24.8	24.8	NUM
fsr-3177	154	88	%	%	NOUN
fsr-3177	154	89	30.9	30.9	NUM
fsr-3177	154	90	%	%	NOUN
fsr-3177	154	91	27.5	27.5	NUM
fsr-3177	154	92	%	%	NOUN
fsr-3177	154	93	5	5	NUM
fsr-3177	154	94	5	5	NUM
fsr-3177	154	95	5	5	NUM
fsr-3177	154	96	5	5	NUM
fsr-3177	154	97	5	5	NUM
fsr-3177	154	98	34.0	34.0	NUM
fsr-3177	154	99	%	%	NOUN
fsr-3177	154	100	41.6	41.6	NUM
fsr-3177	154	101	%	%	NOUN
fsr-3177	154	102	33.9	33.9	NUM
fsr-3177	154	103	%	%	NOUN
fsr-3177	154	104	45.9	45.9	NUM
fsr-3177	154	105	%	%	NOUN
fsr-3177	154	106	40.8	40.8	NUM
fsr-3177	154	107	%	%	NOUN
fsr-3177	154	108	6	6	NUM
fsr-3177	154	109	6	6	NUM
fsr-3177	154	110	7	7	NUM
fsr-3177	154	111	6	6	NUM
fsr-3177	154	112	6	6	NUM
fsr-3177	154	113	45.0	45.0	NUM
fsr-3177	154	114	%	%	NOUN
fsr-3177	154	115	52.8	52.8	NUM
fsr-3177	154	116	%	%	NOUN
fsr-3177	154	117	44.7	44.7	NUM
fsr-3177	154	118	%	%	NOUN
fsr-3177	154	119	64.0	64.0	NUM
fsr-3177	154	120	%	%	NOUN
fsr-3177	154	121	56.2	56.2	NUM
fsr-3177	154	122	%	%	NOUN
fsr-3177	154	123	7	7	NUM
fsr-3177	154	124	6	6	NUM
fsr-3177	154	125	7	7	NUM
fsr-3177	154	126	7	7	NUM
fsr-3177	154	127	7	7	NUM
fsr-3177	154	128	72.0	72.0	NUM
fsr-3177	154	129	%	%	NOUN
fsr-3177	154	130	73.4	73.4	NUM
fsr-3177	154	131	%	%	NOUN
fsr-3177	154	132	68.4	68.4	NUM
fsr-3177	154	133	%	%	NOUN
fsr-3177	154	134	84.2	84.2	NUM
fsr-3177	154	135	%	%	NOUN
fsr-3177	154	136	84.3	84.3	NUM
fsr-3177	154	137	%	%	NOUN
fsr-3177	154	138	7	7	NUM
fsr-3177	154	139	7	7	NUM
fsr-3177	154	140	7	7	NUM
fsr-3177	154	141	7	7	NUM
fsr-3177	154	142	brayman	brayman	NOUN
fsr-3177	154	143	et	et	PROPN
fsr-3177	154	144	al	al	PROPN
fsr-3177	154	145	.	.	PROPN
fsr-3177	154	146	257	257	NUM
fsr-3177	154	147	applying	apply	VERB
fsr-3177	154	148	the	the	DET
fsr-3177	154	149	mifid	mifid	ADJ
fsr-3177	154	150	-	-	PUNCT
fsr-3177	154	151	ii	ii	NOUN
fsr-3177	154	152	var	var	NOUN
fsr-3177	154	153	calculations	calculation	NOUN
fsr-3177	154	154	the	the	DET
fsr-3177	154	155	seven	seven	NUM
fsr-3177	154	156	model	model	NOUN
fsr-3177	154	157	portfolios	portfolio	NOUN
fsr-3177	154	158	were	be	AUX
fsr-3177	154	159	analysed	analyse	VERB
fsr-3177	154	160	based	base	VERB
fsr-3177	154	161	on	on	ADP
fsr-3177	154	162	five	five	NUM
fsr-3177	154	163	-	-	PUNCT
fsr-3177	154	164	years	year	NOUN
fsr-3177	154	165	of	of	ADP
fsr-3177	154	166	monthly	monthly	ADJ
fsr-3177	154	167	data	datum	NOUN
fsr-3177	154	168	ending	end	VERB
fsr-3177	154	169	in	in	ADP
fsr-3177	154	170	2022	2022	NUM
fsr-3177	154	171	.	.	PUNCT
fsr-3177	155	1	these	these	DET
fsr-3177	155	2	data	datum	NOUN
fsr-3177	155	3	were	be	AUX
fsr-3177	155	4	used	use	VERB
fsr-3177	155	5	to	to	PART
fsr-3177	155	6	calculate	calculate	VERB
fsr-3177	155	7	the	the	DET
fsr-3177	155	8	monthly	monthly	ADJ
fsr-3177	155	9	standard	standard	ADJ
fsr-3177	155	10	deviation	deviation	NOUN
fsr-3177	155	11	and	and	CCONJ
fsr-3177	155	12	then	then	ADV
fsr-3177	155	13	annualized	annualize	VERB
fsr-3177	155	14	.	.	PUNCT
fsr-3177	156	1	results	result	NOUN
fsr-3177	156	2	are	be	AUX
fsr-3177	156	3	shown	show	VERB
fsr-3177	156	4	in	in	ADP
fsr-3177	156	5	table	table	NOUN
fsr-3177	156	6	5	5	NUM
fsr-3177	156	7	.	.	PUNCT
fsr-3177	156	8	table	table	NOUN
fsr-3177	156	9	5	5	NUM
fsr-3177	156	10	:	:	PUNCT
fsr-3177	156	11	mapping	map	VERB
fsr-3177	156	12	seven	seven	NUM
fsr-3177	156	13	portfolios	portfolio	NOUN
fsr-3177	156	14	across	across	ADP
fsr-3177	156	15	four	four	NUM
fsr-3177	156	16	countries	country	NOUN
fsr-3177	156	17	based	base	VERB
fsr-3177	156	18	on	on	ADP
fsr-3177	156	19	five	five	NUM
fsr-3177	156	20	-	-	PUNCT
fsr-3177	156	21	year	year	NOUN
fsr-3177	156	22	standard	standard	ADJ
fsr-3177	156	23	deviation	deviation	NOUN
fsr-3177	156	24	and	and	CCONJ
fsr-3177	156	25	mifid	mifid	ADJ
fsr-3177	156	26	-	-	PUNCT
fsr-3177	156	27	ii	ii	NOUN
fsr-3177	156	28	methodology	methodology	NOUN
fsr-3177	156	29	australia	australia	PROPN
fsr-3177	156	30	canada	canada	PROPN
fsr-3177	156	31	united	united	PROPN
fsr-3177	156	32	kingdom	kingdom	PROPN
fsr-3177	156	33	u.s	u.s	PROPN
fsr-3177	156	34	.	.	PROPN
fsr-3177	156	35	portfolio	portfolio	NOUN
fsr-3177	156	36	sd	sd	ADP
fsr-3177	156	37	risk	risk	NOUN
fsr-3177	156	38	class	class	NOUN
fsr-3177	156	39	sd	sd	NOUN
fsr-3177	156	40	risk	risk	NOUN
fsr-3177	156	41	class	class	NOUN
fsr-3177	156	42	sd	sd	NOUN
fsr-3177	156	43	risk	risk	NOUN
fsr-3177	156	44	class	class	NOUN
fsr-3177	156	45	sd	sd	NOUN
fsr-3177	156	46	risk	risk	NOUN
fsr-3177	156	47	class	class	NOUN
fsr-3177	156	48	1	1	NUM
fsr-3177	156	49	1.7	1.7	NUM
fsr-3177	156	50	%	%	NOUN
fsr-3177	156	51	2	2	NUM
fsr-3177	156	52	1.2	1.2	NUM
fsr-3177	156	53	%	%	NOUN
fsr-3177	156	54	2	2	NUM
fsr-3177	156	55	4.2	4.2	NUM
fsr-3177	156	56	%	%	NOUN
fsr-3177	156	57	3	3	NUM
fsr-3177	156	58	1.1	1.1	NUM
fsr-3177	156	59	%	%	NOUN
fsr-3177	156	60	2	2	NUM
fsr-3177	156	61	2	2	NUM
fsr-3177	156	62	3.7	3.7	NUM
fsr-3177	156	63	%	%	NOUN
fsr-3177	156	64	3	3	NUM
fsr-3177	156	65	3.8	3.8	NUM
fsr-3177	156	66	%	%	NOUN
fsr-3177	156	67	3	3	NUM
fsr-3177	156	68	6.4	6.4	NUM
fsr-3177	156	69	%	%	NOUN
fsr-3177	156	70	4	4	NUM
fsr-3177	156	71	3.4	3.4	NUM
fsr-3177	156	72	%	%	NOUN
fsr-3177	156	73	3	3	NUM
fsr-3177	156	74	3	3	NUM
fsr-3177	156	75	5.6	5.6	NUM
fsr-3177	156	76	%	%	NOUN
fsr-3177	156	77	4	4	NUM
fsr-3177	156	78	6.6	6.6	NUM
fsr-3177	156	79	%	%	NOUN
fsr-3177	156	80	4	4	NUM
fsr-3177	156	81	8.6	8.6	NUM
fsr-3177	156	82	%	%	NOUN
fsr-3177	156	83	4	4	NUM
fsr-3177	156	84	5.2	5.2	NUM
fsr-3177	156	85	%	%	NOUN
fsr-3177	156	86	4	4	NUM
fsr-3177	156	87	4	4	NUM
fsr-3177	156	88	7.4	7.4	NUM
fsr-3177	156	89	%	%	NOUN
fsr-3177	156	90	4	4	NUM
fsr-3177	156	91	9.0	9.0	NUM
fsr-3177	156	92	%	%	NOUN
fsr-3177	156	93	4	4	NUM
fsr-3177	156	94	10.3	10.3	NUM
fsr-3177	156	95	%	%	NOUN
fsr-3177	156	96	5	5	NUM
fsr-3177	156	97	7.0	7.0	NUM
fsr-3177	156	98	%	%	NOUN
fsr-3177	156	99	4	4	NUM
fsr-3177	156	100	5	5	NUM
fsr-3177	156	101	9.1	9.1	NUM
fsr-3177	156	102	%	%	NOUN
fsr-3177	156	103	4	4	NUM
fsr-3177	156	104	11.7	11.7	NUM
fsr-3177	156	105	%	%	NOUN
fsr-3177	156	106	5	5	NUM
fsr-3177	156	107	12.2	12.2	NUM
fsr-3177	156	108	%	%	NOUN
fsr-3177	156	109	5	5	NUM
fsr-3177	156	110	9.4	9.4	NUM
fsr-3177	156	111	%	%	NOUN
fsr-3177	156	112	4	4	NUM
fsr-3177	156	113	6	6	NUM
fsr-3177	156	114	10.6	10.6	NUM
fsr-3177	156	115	%	%	NOUN
fsr-3177	156	116	5	5	NUM
fsr-3177	156	117	13.6	13.6	NUM
fsr-3177	156	118	%	%	NOUN
fsr-3177	156	119	5	5	NUM
fsr-3177	156	120	12.7	12.7	NUM
fsr-3177	156	121	%	%	NOUN
fsr-3177	156	122	5	5	NUM
fsr-3177	156	123	11.9	11.9	NUM
fsr-3177	156	124	%	%	NOUN
fsr-3177	156	125	5	5	NUM
fsr-3177	156	126	7	7	NUM
fsr-3177	156	127	10.6	10.6	NUM
fsr-3177	156	128	%	%	NOUN
fsr-3177	156	129	5	5	NUM
fsr-3177	156	130	13.0	13.0	NUM
fsr-3177	156	131	%	%	NOUN
fsr-3177	156	132	5	5	NUM
fsr-3177	156	133	13.4	13.4	NUM
fsr-3177	156	134	%	%	NOUN
fsr-3177	156	135	5	5	NUM
fsr-3177	156	136	12.9	12.9	NUM
fsr-3177	156	137	%	%	NOUN
fsr-3177	156	138	5	5	NUM
fsr-3177	156	139	using	use	VERB
fsr-3177	156	140	the	the	DET
fsr-3177	156	141	mifid	mifid	ADJ
fsr-3177	156	142	-	-	PUNCT
fsr-3177	156	143	ii	ii	NOUN
fsr-3177	156	144	mapping	mapping	NOUN
fsr-3177	156	145	ranges	range	NOUN
fsr-3177	156	146	and	and	CCONJ
fsr-3177	156	147	five	five	NUM
fsr-3177	156	148	years	year	NOUN
fsr-3177	156	149	of	of	ADP
fsr-3177	156	150	monthly	monthly	ADJ
fsr-3177	156	151	data	datum	NOUN
fsr-3177	156	152	shows	show	VERB
fsr-3177	156	153	that	that	SCONJ
fsr-3177	156	154	all	all	DET
fsr-3177	156	155	the	the	DET
fsr-3177	156	156	portfolios	portfolio	NOUN
fsr-3177	156	157	are	be	AUX
fsr-3177	156	158	more	more	ADV
fsr-3177	156	159	tightly	tightly	ADV
fsr-3177	156	160	clustered	cluster	VERB
fsr-3177	156	161	and	and	CCONJ
fsr-3177	156	162	would	would	AUX
fsr-3177	156	163	be	be	AUX
fsr-3177	156	164	classed	class	VERB
fsr-3177	156	165	in	in	ADP
fsr-3177	156	166	risk	risk	NOUN
fsr-3177	156	167	bands	band	NOUN
fsr-3177	156	168	2	2	NUM
fsr-3177	156	169	to	to	ADP
fsr-3177	156	170	5	5	NUM
fsr-3177	156	171	.	.	PUNCT
fsr-3177	157	1	it	it	PRON
fsr-3177	157	2	is	be	AUX
fsr-3177	157	3	important	important	ADJ
fsr-3177	157	4	to	to	PART
fsr-3177	157	5	observe	observe	VERB
fsr-3177	157	6	that	that	SCONJ
fsr-3177	157	7	even	even	ADV
fsr-3177	157	8	the	the	DET
fsr-3177	157	9	100	100	NUM
fsr-3177	157	10	%	%	NOUN
fsr-3177	157	11	cash	cash	NOUN
fsr-3177	157	12	portfolio	portfolio	NOUN
fsr-3177	157	13	has	have	VERB
fsr-3177	157	14	a	a	DET
fsr-3177	157	15	standard	standard	ADJ
fsr-3177	157	16	deviation	deviation	NOUN
fsr-3177	157	17	that	that	PRON
fsr-3177	157	18	would	would	AUX
fsr-3177	157	19	be	be	AUX
fsr-3177	157	20	mapped	map	VERB
fsr-3177	157	21	into	into	ADP
fsr-3177	157	22	risk	risk	NOUN
fsr-3177	157	23	band	band	NOUN
fsr-3177	157	24	3	3	NUM
fsr-3177	157	25	or	or	CCONJ
fsr-3177	157	26	4	4	NUM
fsr-3177	157	27	in	in	ADP
fsr-3177	157	28	all	all	DET
fsr-3177	157	29	counties	county	NOUN
fsr-3177	157	30	.	.	PUNCT
fsr-3177	158	1	with	with	ADP
fsr-3177	158	2	recent	recent	ADJ
fsr-3177	158	3	interest	interest	NOUN
fsr-3177	158	4	rate	rate	NOUN
fsr-3177	158	5	hikes	hike	NOUN
fsr-3177	158	6	even	even	ADV
fsr-3177	158	7	the	the	DET
fsr-3177	158	8	five	five	NUM
fsr-3177	158	9	-	-	PUNCT
fsr-3177	158	10	year	year	NOUN
fsr-3177	158	11	cash	cash	NOUN
fsr-3177	158	12	portfolio	portfolio	NOUN
fsr-3177	158	13	would	would	AUX
fsr-3177	158	14	display	display	VERB
fsr-3177	158	15	significant	significant	ADJ
fsr-3177	158	16	volatility	volatility	NOUN
fsr-3177	158	17	.	.	PUNCT
fsr-3177	159	1	it	it	PRON
fsr-3177	159	2	is	be	AUX
fsr-3177	159	3	difficult	difficult	ADJ
fsr-3177	159	4	to	to	PART
fsr-3177	159	5	conceive	conceive	VERB
fsr-3177	159	6	what	what	PRON
fsr-3177	159	7	products	product	NOUN
fsr-3177	159	8	would	would	AUX
fsr-3177	159	9	be	be	AUX
fsr-3177	159	10	considered	consider	VERB
fsr-3177	159	11	appropriate	appropriate	ADJ
fsr-3177	159	12	for	for	ADP
fsr-3177	159	13	mifid	mifid	ADJ
fsr-3177	159	14	-	-	PUNCT
fsr-3177	159	15	ii	ii	NOUN
fsr-3177	159	16	’s	’s	PART
fsr-3177	159	17	first	first	ADJ
fsr-3177	159	18	two	two	NUM
fsr-3177	159	19	risk	risk	NOUN
fsr-3177	159	20	bands	band	NOUN
fsr-3177	159	21	.	.	PUNCT
fsr-3177	160	1	similarly	similarly	ADV
fsr-3177	160	2	,	,	PUNCT
fsr-3177	160	3	even	even	ADV
fsr-3177	160	4	the	the	DET
fsr-3177	160	5	most	most	ADV
fsr-3177	160	6	aggressive	aggressive	ADJ
fsr-3177	160	7	of	of	ADP
fsr-3177	160	8	all	all	DET
fsr-3177	160	9	equity	equity	NOUN
fsr-3177	160	10	portfolios	portfolio	NOUN
fsr-3177	160	11	are	be	AUX
fsr-3177	160	12	mapped	map	VERB
fsr-3177	160	13	to	to	PART
fsr-3177	160	14	risk	risk	VERB
fsr-3177	160	15	bands	band	NOUN
fsr-3177	160	16	5	5	NUM
fsr-3177	160	17	.	.	PUNCT
fsr-3177	161	1	it	it	PRON
fsr-3177	161	2	appears	appear	VERB
fsr-3177	161	3	as	as	SCONJ
fsr-3177	161	4	if	if	SCONJ
fsr-3177	161	5	the	the	DET
fsr-3177	161	6	regulator	regulator	NOUN
fsr-3177	161	7	considers	consider	VERB
fsr-3177	161	8	any	any	DET
fsr-3177	161	9	well	well	ADV
fsr-3177	161	10	-	-	PUNCT
fsr-3177	161	11	constructed	construct	VERB
fsr-3177	161	12	,	,	PUNCT
fsr-3177	161	13	diversified	diversified	ADJ
fsr-3177	161	14	portfolio	portfolio	NOUN
fsr-3177	161	15	–	–	PUNCT
fsr-3177	161	16	even	even	ADV
fsr-3177	161	17	when	when	SCONJ
fsr-3177	161	18	100	100	NUM
fsr-3177	161	19	%	%	NOUN
fsr-3177	161	20	in	in	ADP
fsr-3177	161	21	equity	equity	NOUN
fsr-3177	161	22	investments	investment	NOUN
fsr-3177	161	23	–	–	PUNCT
fsr-3177	161	24	not	not	PART
fsr-3177	161	25	the	the	DET
fsr-3177	161	26	highest	high	ADJ
fsr-3177	161	27	risk	risk	NOUN
fsr-3177	161	28	level	level	NOUN
fsr-3177	161	29	for	for	ADP
fsr-3177	161	30	two	two	NUM
fsr-3177	161	31	bands	band	NOUN
fsr-3177	161	32	of	of	ADP
fsr-3177	161	33	investors	investor	NOUN
fsr-3177	161	34	.	.	PUNCT
fsr-3177	162	1	notice	notice	VERB
fsr-3177	162	2	that	that	SCONJ
fsr-3177	162	3	for	for	ADP
fsr-3177	162	4	canada	canada	PROPN
fsr-3177	162	5	that	that	PRON
fsr-3177	162	6	portfolio	portfolio	NOUN
fsr-3177	162	7	7	7	NUM
fsr-3177	162	8	’s	’s	PART
fsr-3177	162	9	risk	risk	NOUN
fsr-3177	162	10	is	be	AUX
fsr-3177	162	11	less	less	ADJ
fsr-3177	162	12	than	than	ADP
fsr-3177	162	13	portfolio	portfolio	NOUN
fsr-3177	162	14	6	6	NUM
fsr-3177	162	15	.	.	PUNCT
fsr-3177	163	1	the	the	DET
fsr-3177	163	2	portfolios	portfolio	NOUN
fsr-3177	163	3	utilized	utilize	VERB
fsr-3177	163	4	are	be	AUX
fsr-3177	163	5	based	base	VERB
fsr-3177	163	6	on	on	ADP
fsr-3177	163	7	optimized	optimize	VERB
fsr-3177	163	8	long	long	ADJ
fsr-3177	163	9	-	-	PUNCT
fsr-3177	163	10	term	term	NOUN
fsr-3177	163	11	data	datum	NOUN
fsr-3177	163	12	.	.	PUNCT
fsr-3177	164	1	in	in	ADP
fsr-3177	164	2	the	the	DET
fsr-3177	164	3	short	short	ADJ
fsr-3177	164	4	five	five	NUM
fsr-3177	164	5	-	-	PUNCT
fsr-3177	164	6	year	year	NOUN
fsr-3177	164	7	period	period	NOUN
fsr-3177	164	8	,	,	PUNCT
fsr-3177	164	9	this	this	PRON
fsr-3177	164	10	can	can	AUX
fsr-3177	164	11	lead	lead	VERB
fsr-3177	164	12	to	to	ADP
fsr-3177	164	13	unexpected	unexpected	ADJ
fsr-3177	164	14	risk	risk	NOUN
fsr-3177	164	15	outcomes	outcome	NOUN
fsr-3177	164	16	.	.	PUNCT
fsr-3177	165	1	we	we	PRON
fsr-3177	165	2	ran	run	VERB
fsr-3177	165	3	the	the	DET
fsr-3177	165	4	mifid	mifid	ADJ
fsr-3177	165	5	-	-	PUNCT
fsr-3177	165	6	ii	ii	NOUN
fsr-3177	165	7	methodology	methodology	NOUN
fsr-3177	165	8	against	against	ADP
fsr-3177	165	9	five	five	NUM
fsr-3177	165	10	-	-	PUNCT
fsr-3177	165	11	year	year	NOUN
fsr-3177	165	12	data	datum	NOUN
fsr-3177	165	13	from	from	ADP
fsr-3177	165	14	2013	2013	NUM
fsr-3177	165	15	to	to	ADP
fsr-3177	165	16	2017	2017	NUM
fsr-3177	165	17	and	and	CCONJ
fsr-3177	165	18	found	find	VERB
fsr-3177	165	19	“	"	PUNCT
fsr-3177	165	20	inverted	inverted	ADJ
fsr-3177	165	21	outcomes	outcome	NOUN
fsr-3177	165	22	”	"	PUNCT
fsr-3177	165	23	compared	compare	VERB
fsr-3177	165	24	to	to	ADP
fsr-3177	165	25	the	the	DET
fsr-3177	165	26	most	most	ADV
fsr-3177	165	27	recent	recent	ADJ
fsr-3177	165	28	five	five	NUM
fsr-3177	165	29	years	year	NOUN
fsr-3177	165	30	.	.	PUNCT
fsr-3177	166	1	in	in	ADP
fsr-3177	166	2	the	the	DET
fsr-3177	166	3	period	period	NOUN
fsr-3177	166	4	2013	2013	NUM
fsr-3177	166	5	to	to	ADP
fsr-3177	166	6	2017	2017	NUM
fsr-3177	166	7	,	,	PUNCT
fsr-3177	166	8	u.s	u.s	PROPN
fsr-3177	166	9	.	.	PROPN
fsr-3177	166	10	markets	market	NOUN
fsr-3177	166	11	materially	materially	ADV
fsr-3177	166	12	outperformed	outperform	VERB
fsr-3177	166	13	the	the	DET
fsr-3177	166	14	rest	rest	NOUN
fsr-3177	166	15	of	of	ADP
fsr-3177	166	16	the	the	DET
fsr-3177	166	17	world	world	NOUN
fsr-3177	166	18	with	with	ADP
fsr-3177	166	19	u.s	u.s	PROPN
fsr-3177	166	20	.	.	PROPN
fsr-3177	166	21	portfolios	portfolio	NOUN
fsr-3177	166	22	exhibiting	exhibit	VERB
fsr-3177	166	23	the	the	DET
fsr-3177	166	24	lowest	low	ADJ
fsr-3177	166	25	risk	risk	NOUN
fsr-3177	166	26	.	.	PUNCT
fsr-3177	167	1	in	in	ADP
fsr-3177	167	2	the	the	DET
fsr-3177	167	3	last	last	ADJ
fsr-3177	167	4	five	five	NUM
fsr-3177	167	5	years	year	NOUN
fsr-3177	167	6	a	a	DET
fsr-3177	167	7	different	different	ADJ
fsr-3177	167	8	pattern	pattern	NOUN
fsr-3177	167	9	has	have	AUX
fsr-3177	167	10	emerged	emerge	VERB
fsr-3177	167	11	.	.	PUNCT
fsr-3177	168	1	the	the	DET
fsr-3177	168	2	conclusion	conclusion	NOUN
fsr-3177	168	3	is	be	AUX
fsr-3177	168	4	that	that	SCONJ
fsr-3177	168	5	using	use	VERB
fsr-3177	168	6	rolling	roll	VERB
fsr-3177	168	7	five	five	NUM
fsr-3177	168	8	-	-	PUNCT
fsr-3177	168	9	year	year	NOUN
fsr-3177	168	10	periods	period	NOUN
fsr-3177	168	11	will	will	AUX
fsr-3177	168	12	not	not	PART
fsr-3177	168	13	result	result	VERB
fsr-3177	168	14	in	in	ADP
fsr-3177	168	15	consistent	consistent	ADJ
fsr-3177	168	16	outcomes	outcome	NOUN
fsr-3177	168	17	of	of	ADP
fsr-3177	168	18	risk	risk	NOUN
fsr-3177	168	19	expectation	expectation	NOUN
fsr-3177	168	20	for	for	ADP
fsr-3177	168	21	investor	investor	NOUN
fsr-3177	168	22	’s	’s	PART
fsr-3177	168	23	portfolios	portfolio	NOUN
fsr-3177	168	24	.	.	PUNCT
fsr-3177	169	1	we	we	PRON
fsr-3177	169	2	completed	complete	VERB
fsr-3177	169	3	the	the	DET
fsr-3177	169	4	same	same	ADJ
fsr-3177	169	5	exercise	exercise	NOUN
fsr-3177	169	6	using	use	VERB
fsr-3177	169	7	the	the	DET
fsr-3177	169	8	historical	historical	ADJ
fsr-3177	169	9	long	long	ADJ
fsr-3177	169	10	-	-	PUNCT
fsr-3177	169	11	term	term	NOUN
fsr-3177	169	12	indices	index	NOUN
fsr-3177	169	13	for	for	ADP
fsr-3177	169	14	these	these	DET
fsr-3177	169	15	portfolios	portfolio	NOUN
fsr-3177	169	16	.	.	PUNCT
fsr-3177	170	1	results	result	NOUN
fsr-3177	170	2	are	be	AUX
fsr-3177	170	3	shown	show	VERB
fsr-3177	170	4	in	in	ADP
fsr-3177	170	5	table	table	NOUN
fsr-3177	170	6	6	6	NUM
fsr-3177	170	7	.	.	PUNCT
fsr-3177	171	1	although	although	SCONJ
fsr-3177	171	2	there	there	PRON
fsr-3177	171	3	is	be	VERB
fsr-3177	171	4	a	a	DET
fsr-3177	171	5	slightly	slightly	ADV
fsr-3177	171	6	broader	broad	ADJ
fsr-3177	171	7	distribution	distribution	NOUN
fsr-3177	171	8	of	of	ADP
fsr-3177	171	9	the	the	DET
fsr-3177	171	10	portfolios	portfolio	NOUN
fsr-3177	171	11	across	across	ADP
fsr-3177	171	12	the	the	DET
fsr-3177	171	13	seven	seven	NUM
fsr-3177	171	14	mifid	mifid	ADJ
fsr-3177	171	15	-	-	PUNCT
fsr-3177	171	16	ii	ii	NOUN
fsr-3177	171	17	risk	risk	NOUN
fsr-3177	171	18	classes	class	NOUN
fsr-3177	171	19	,	,	PUNCT
fsr-3177	171	20	no	no	DET
fsr-3177	171	21	products	product	NOUN
fsr-3177	171	22	,	,	PUNCT
fsr-3177	171	23	including	include	VERB
fsr-3177	171	24	cash	cash	NOUN
fsr-3177	171	25	,	,	PUNCT
fsr-3177	171	26	fall	fall	VERB
fsr-3177	171	27	into	into	ADP
fsr-3177	171	28	risk	risk	NOUN
fsr-3177	171	29	class	class	NOUN
fsr-3177	171	30	1	1	NUM
fsr-3177	171	31	or	or	CCONJ
fsr-3177	171	32	2	2	NUM
fsr-3177	171	33	for	for	ADP
fsr-3177	171	34	standard	standard	ADJ
fsr-3177	171	35	deviation	deviation	NOUN
fsr-3177	171	36	below	below	ADP
fsr-3177	171	37	2	2	NUM
fsr-3177	171	38	%	%	NOUN
fsr-3177	171	39	per	per	ADP
fsr-3177	171	40	year	year	NOUN
fsr-3177	171	41	.	.	PUNCT
fsr-3177	172	1	there	there	PRON
fsr-3177	172	2	is	be	VERB
fsr-3177	172	3	,	,	PUNCT
fsr-3177	172	4	however	however	ADV
fsr-3177	172	5	,	,	PUNCT
fsr-3177	172	6	a	a	DET
fsr-3177	172	7	more	more	ADV
fsr-3177	172	8	realistic	realistic	ADJ
fsr-3177	172	9	mapping	mapping	NOUN
fsr-3177	172	10	of	of	ADP
fsr-3177	172	11	the	the	DET
fsr-3177	172	12	100	100	NUM
fsr-3177	172	13	%	%	NOUN
fsr-3177	172	14	equity	equity	NOUN
fsr-3177	172	15	portfolios	portfolio	NOUN
fsr-3177	172	16	(	(	PUNCT
fsr-3177	172	17	at	at	ADP
fsr-3177	172	18	least	least	ADJ
fsr-3177	172	19	to	to	PART
fsr-3177	172	20	risk	risk	VERB
fsr-3177	172	21	class	class	NOUN
fsr-3177	172	22	6	6	NUM
fsr-3177	172	23	from	from	ADP
fsr-3177	172	24	5	5	NUM
fsr-3177	172	25	)	)	PUNCT
fsr-3177	172	26	.	.	PUNCT
fsr-3177	173	1	financial	financial	ADJ
fsr-3177	173	2	services	service	NOUN
fsr-3177	173	3	review	review	NOUN
fsr-3177	173	4	,	,	PUNCT
fsr-3177	173	5	31(4	31(4	NUM
fsr-3177	173	6	)	)	PUNCT
fsr-3177	173	7	258	258	NUM
fsr-3177	173	8	table	table	NOUN
fsr-3177	173	9	6	6	NUM
fsr-3177	173	10	:	:	PUNCT
fsr-3177	173	11	mapping	map	VERB
fsr-3177	173	12	seven	seven	NUM
fsr-3177	173	13	portfolios	portfolio	NOUN
fsr-3177	173	14	times	time	NOUN
fsr-3177	173	15	four	four	NUM
fsr-3177	173	16	countries	country	NOUN
fsr-3177	173	17	based	base	VERB
fsr-3177	173	18	on	on	ADP
fsr-3177	173	19	long	long	ADJ
fsr-3177	173	20	-	-	PUNCT
fsr-3177	173	21	term	term	NOUN
fsr-3177	173	22	indices	index	NOUN
fsr-3177	173	23	and	and	CCONJ
fsr-3177	173	24	mifidii	mifidii	PROPN
fsr-3177	173	25	thresholds	threshold	VERB
fsr-3177	173	26	australia	australia	PROPN
fsr-3177	173	27	canada	canada	PROPN
fsr-3177	173	28	united	united	PROPN
fsr-3177	173	29	kingdom	kingdom	PROPN
fsr-3177	173	30	u.s	u.s	PROPN
fsr-3177	173	31	.	.	PROPN
fsr-3177	173	32	portfolio	portfolio	NOUN
fsr-3177	173	33	sd	sd	ADP
fsr-3177	173	34	risk	risk	NOUN
fsr-3177	173	35	class	class	NOUN
fsr-3177	173	36	sd	sd	NOUN
fsr-3177	173	37	risk	risk	NOUN
fsr-3177	173	38	class	class	NOUN
fsr-3177	173	39	sd	sd	NOUN
fsr-3177	173	40	risk	risk	NOUN
fsr-3177	173	41	class	class	NOUN
fsr-3177	173	42	sd	sd	NOUN
fsr-3177	173	43	risk	risk	NOUN
fsr-3177	173	44	class	class	NOUN
fsr-3177	173	45	1	1	NUM
fsr-3177	173	46	4.5	4.5	NUM
fsr-3177	173	47	%	%	NOUN
fsr-3177	173	48	3	3	NUM
fsr-3177	173	49	3.6	3.6	NUM
fsr-3177	173	50	%	%	NOUN
fsr-3177	173	51	3	3	NUM
fsr-3177	173	52	4.0	4.0	NUM
fsr-3177	173	53	%	%	NOUN
fsr-3177	173	54	3	3	NUM
fsr-3177	173	55	3.4	3.4	NUM
fsr-3177	173	56	%	%	NOUN
fsr-3177	173	57	3	3	NUM
fsr-3177	173	58	2	2	NUM
fsr-3177	173	59	5.8	5.8	NUM
fsr-3177	173	60	%	%	NOUN
fsr-3177	173	61	4	4	NUM
fsr-3177	173	62	4.6	4.6	NUM
fsr-3177	173	63	%	%	NOUN
fsr-3177	173	64	3	3	NUM
fsr-3177	173	65	5.5	5.5	NUM
fsr-3177	173	66	%	%	NOUN
fsr-3177	173	67	4	4	NUM
fsr-3177	173	68	4.9	4.9	NUM
fsr-3177	173	69	%	%	NOUN
fsr-3177	173	70	3	3	NUM
fsr-3177	173	71	3	3	NUM
fsr-3177	173	72	8.5	8.5	NUM
fsr-3177	173	73	%	%	NOUN
fsr-3177	173	74	4	4	NUM
fsr-3177	173	75	7.0	7.0	NUM
fsr-3177	173	76	%	%	NOUN
fsr-3177	173	77	4	4	NUM
fsr-3177	173	78	8.4	8.4	NUM
fsr-3177	173	79	%	%	NOUN
fsr-3177	173	80	4	4	NUM
fsr-3177	173	81	7.3	7.3	NUM
fsr-3177	173	82	%	%	NOUN
fsr-3177	173	83	3	3	NUM
fsr-3177	173	84	4	4	NUM
fsr-3177	173	85	11.7	11.7	NUM
fsr-3177	173	86	%	%	NOUN
fsr-3177	173	87	5	5	NUM
fsr-3177	173	88	9.7	9.7	NUM
fsr-3177	173	89	%	%	NOUN
fsr-3177	173	90	4	4	NUM
fsr-3177	173	91	11.9	11.9	NUM
fsr-3177	173	92	%	%	NOUN
fsr-3177	173	93	5	5	NUM
fsr-3177	173	94	10.6	10.6	NUM
fsr-3177	173	95	%	%	NOUN
fsr-3177	173	96	5	5	NUM
fsr-3177	173	97	5	5	NUM
fsr-3177	173	98	15.1	15.1	NUM
fsr-3177	173	99	%	%	NOUN
fsr-3177	173	100	6	6	NUM
fsr-3177	173	101	12.6	12.6	NUM
fsr-3177	173	102	%	%	NOUN
fsr-3177	173	103	5	5	NUM
fsr-3177	173	104	16.6	16.6	NUM
fsr-3177	173	105	%	%	NOUN
fsr-3177	173	106	6	6	NUM
fsr-3177	173	107	14.8	14.8	NUM
fsr-3177	173	108	%	%	NOUN
fsr-3177	173	109	5	5	NUM
fsr-3177	173	110	6	6	NUM
fsr-3177	173	111	18.6	18.6	NUM
fsr-3177	173	112	%	%	NOUN
fsr-3177	173	113	6	6	NUM
fsr-3177	173	114	16.0	16.0	NUM
fsr-3177	173	115	%	%	NOUN
fsr-3177	173	116	6	6	NUM
fsr-3177	173	117	22.1	22.1	NUM
fsr-3177	173	118	%	%	NOUN
fsr-3177	173	119	6	6	NUM
fsr-3177	173	120	19.6	19.6	NUM
fsr-3177	173	121	%	%	NOUN
fsr-3177	173	122	6	6	NUM
fsr-3177	173	123	7	7	NUM
fsr-3177	173	124	24.7	24.7	NUM
fsr-3177	173	125	%	%	NOUN
fsr-3177	173	126	6	6	NUM
fsr-3177	173	127	23.1	23.1	NUM
fsr-3177	173	128	%	%	NOUN
fsr-3177	173	129	6	6	NUM
fsr-3177	173	130	28.3	28.3	NUM
fsr-3177	173	131	%	%	NOUN
fsr-3177	173	132	6	6	NUM
fsr-3177	173	133	28.0	28.0	NUM
fsr-3177	173	134	%	%	NOUN
fsr-3177	173	135	6	6	NUM
fsr-3177	173	136	riskcat	riskcat	NOUN
fsr-3177	173	137	results	result	VERB
fsr-3177	173	138	the	the	DET
fsr-3177	173	139	riskcat	riskcat	ADJ
fsr-3177	173	140	model	model	NOUN
fsr-3177	173	141	introduced	introduce	VERB
fsr-3177	173	142	by	by	ADP
fsr-3177	173	143	grable	grable	PROPN
fsr-3177	173	144	(	(	PUNCT
fsr-3177	173	145	2008	2008	NUM
fsr-3177	173	146	)	)	PUNCT
fsr-3177	173	147	proposed	propose	VERB
fsr-3177	173	148	a	a	DET
fsr-3177	173	149	multiplicative	multiplicative	ADJ
fsr-3177	173	150	“	"	PUNCT
fsr-3177	173	151	profiler	profiler	NOUN
fsr-3177	173	152	score	score	NOUN
fsr-3177	173	153	”	"	PUNCT
fsr-3177	173	154	from	from	ADP
fsr-3177	173	155	0.0	0.0	NUM
fsr-3177	173	156	to	to	ADP
fsr-3177	173	157	2.5	2.5	NUM
fsr-3177	173	158	and	and	CCONJ
fsr-3177	173	159	a	a	DET
fsr-3177	173	160	mapping	mapping	NOUN
fsr-3177	173	161	into	into	ADP
fsr-3177	173	162	an	an	DET
fsr-3177	173	163	index	index	NOUN
fsr-3177	173	164	of	of	ADP
fsr-3177	173	165	75	75	NUM
fsr-3177	173	166	%	%	NOUN
fsr-3177	173	167	u.s	u.s	PROPN
fsr-3177	173	168	.	.	PROPN
fsr-3177	173	169	large	large	ADJ
fsr-3177	173	170	cap	cap	NOUN
fsr-3177	173	171	and	and	CCONJ
fsr-3177	173	172	25	25	NUM
fsr-3177	173	173	%	%	NOUN
fsr-3177	173	174	u.s	u.s	PROPN
fsr-3177	173	175	.	.	PROPN
fsr-3177	173	176	small	small	ADJ
fsr-3177	173	177	cap	cap	NOUN
fsr-3177	173	178	equities	equity	NOUN
fsr-3177	173	179	.	.	PUNCT
fsr-3177	174	1	grable	grable	PROPN
fsr-3177	174	2	classified	classify	VERB
fsr-3177	174	3	this	this	DET
fsr-3177	174	4	index	index	NOUN
fsr-3177	174	5	as	as	ADP
fsr-3177	174	6	a	a	DET
fsr-3177	174	7	beta	beta	NOUN
fsr-3177	174	8	=	=	SYM
fsr-3177	174	9	1	1	NUM
fsr-3177	174	10	and	and	CCONJ
fsr-3177	174	11	then	then	ADV
fsr-3177	174	12	mapped	map	VERB
fsr-3177	174	13	it	it	PRON
fsr-3177	174	14	to	to	ADP
fsr-3177	174	15	a	a	DET
fsr-3177	174	16	score	score	NOUN
fsr-3177	174	17	of	of	ADP
fsr-3177	174	18	1.0	1.0	NUM
fsr-3177	174	19	on	on	ADP
fsr-3177	174	20	the	the	DET
fsr-3177	174	21	scale	scale	NOUN
fsr-3177	174	22	.	.	PUNCT
fsr-3177	175	1	using	use	VERB
fsr-3177	175	2	this	this	DET
fsr-3177	175	3	approach	approach	NOUN
fsr-3177	175	4	,	,	PUNCT
fsr-3177	175	5	an	an	DET
fsr-3177	175	6	investor	investor	NOUN
fsr-3177	175	7	with	with	ADP
fsr-3177	175	8	a	a	DET
fsr-3177	175	9	profile	profile	ADJ
fsr-3177	175	10	score	score	NOUN
fsr-3177	175	11	of	of	ADP
fsr-3177	175	12	0.5	0.5	NUM
fsr-3177	175	13	would	would	AUX
fsr-3177	175	14	be	be	AUX
fsr-3177	175	15	mapped	map	VERB
fsr-3177	175	16	to	to	ADP
fsr-3177	175	17	an	an	DET
fsr-3177	175	18	index	index	NOUN
fsr-3177	175	19	of	of	ADP
fsr-3177	175	20	50	50	NUM
fsr-3177	175	21	%	%	NOUN
fsr-3177	175	22	equities	equity	NOUN
fsr-3177	175	23	and	and	CCONJ
fsr-3177	175	24	50	50	NUM
fsr-3177	175	25	%	%	NOUN
fsr-3177	175	26	cash	cash	NOUN
fsr-3177	175	27	.	.	PUNCT
fsr-3177	176	1	an	an	DET
fsr-3177	176	2	investor	investor	NOUN
fsr-3177	176	3	with	with	ADP
fsr-3177	176	4	a	a	DET
fsr-3177	176	5	score	score	NOUN
fsr-3177	176	6	of	of	ADP
fsr-3177	176	7	2.0	2.0	NUM
fsr-3177	176	8	would	would	AUX
fsr-3177	176	9	map	map	VERB
fsr-3177	176	10	to	to	ADP
fsr-3177	176	11	2x	2x	NUM
fsr-3177	176	12	the	the	DET
fsr-3177	176	13	index	index	NOUN
fsr-3177	176	14	,	,	PUNCT
fsr-3177	176	15	which	which	PRON
fsr-3177	176	16	means	mean	VERB
fsr-3177	176	17	leverage	leverage	NOUN
fsr-3177	176	18	of	of	ADP
fsr-3177	176	19	50	50	NUM
fsr-3177	176	20	%	%	NOUN
fsr-3177	176	21	(	(	PUNCT
fsr-3177	176	22	i.e.	i.e.	X
fsr-3177	176	23	,	,	PUNCT
fsr-3177	176	24	doubling	double	VERB
fsr-3177	176	25	the	the	DET
fsr-3177	176	26	level	level	NOUN
fsr-3177	176	27	of	of	ADP
fsr-3177	176	28	risk	risk	NOUN
fsr-3177	176	29	)	)	PUNCT
fsr-3177	176	30	.	.	PUNCT
fsr-3177	177	1	in	in	ADP
fsr-3177	177	2	the	the	DET
fsr-3177	177	3	original	original	ADJ
fsr-3177	177	4	model	model	NOUN
fsr-3177	177	5	,	,	PUNCT
fsr-3177	177	6	grable	grable	PROPN
fsr-3177	177	7	referenced	reference	VERB
fsr-3177	177	8	an	an	DET
fsr-3177	177	9	“	"	PUNCT
fsr-3177	177	10	index	index	NOUN
fsr-3177	177	11	”	"	PUNCT
fsr-3177	177	12	with	with	ADP
fsr-3177	177	13	a	a	DET
fsr-3177	177	14	standard	standard	ADJ
fsr-3177	177	15	deviation	deviation	NOUN
fsr-3177	177	16	is	be	AUX
fsr-3177	177	17	23.38	23.38	NUM
fsr-3177	177	18	%	%	NOUN
fsr-3177	177	19	and	and	CCONJ
fsr-3177	177	20	a	a	DET
fsr-3177	177	21	var	var	NOUN
fsr-3177	177	22	of	of	ADP
fsr-3177	177	23	12.43	12.43	NUM
fsr-3177	177	24	%	%	NOUN
fsr-3177	177	25	after	after	ADP
fsr-3177	177	26	a	a	DET
fsr-3177	177	27	10.95	10.95	NUM
fsr-3177	177	28	%	%	NOUN
fsr-3177	177	29	return	return	NOUN
fsr-3177	177	30	.	.	PUNCT
fsr-3177	178	1	we	we	PRON
fsr-3177	178	2	recalculated	recalculate	VERB
fsr-3177	178	3	the	the	DET
fsr-3177	178	4	index	index	NOUN
fsr-3177	178	5	var	var	NOUN
fsr-3177	178	6	based	base	VERB
fsr-3177	178	7	on	on	ADP
fsr-3177	178	8	this	this	DET
fsr-3177	178	9	study	study	NOUN
fsr-3177	178	10	’s	’s	PART
fsr-3177	178	11	indices	index	NOUN
fsr-3177	178	12	(	(	PUNCT
fsr-3177	178	13	morningstar	morningstar	NOUN
fsr-3177	178	14	us	us	PROPN
fsr-3177	178	15	market	market	NOUN
fsr-3177	178	16	tr	tr	VERB
fsr-3177	178	17	usd	usd	NOUN
fsr-3177	178	18	and	and	CCONJ
fsr-3177	178	19	the	the	DET
fsr-3177	178	20	russell	russell	PROPN
fsr-3177	178	21	2000	2000	NUM
fsr-3177	178	22	total	total	NOUN
fsr-3177	178	23	return	return	NOUN
fsr-3177	178	24	index	index	NOUN
fsr-3177	178	25	a	a	DET
fsr-3177	178	26	shorter	short	ADJ
fsr-3177	178	27	history	history	NOUN
fsr-3177	178	28	than	than	SCONJ
fsr-3177	178	29	used	use	VERB
fsr-3177	178	30	by	by	ADP
fsr-3177	178	31	grable	grable	NOUN
fsr-3177	178	32	)	)	PUNCT
fsr-3177	178	33	using	use	VERB
fsr-3177	178	34	the	the	DET
fsr-3177	178	35	same	same	ADJ
fsr-3177	178	36	75%/25	75%/25	ADJ
fsr-3177	178	37	%	%	NOUN
fsr-3177	178	38	split	split	NOUN
fsr-3177	178	39	.	.	PUNCT
fsr-3177	179	1	assuming	assume	VERB
fsr-3177	179	2	the	the	DET
fsr-3177	179	3	portfolio	portfolio	NOUN
fsr-3177	179	4	is	be	AUX
fsr-3177	179	5	unconstrained	unconstraine	VERB
fsr-3177	179	6	by	by	ADP
fsr-3177	179	7	time	time	NOUN
fsr-3177	179	8	horizon	horizon	NOUN
fsr-3177	179	9	and	and	CCONJ
fsr-3177	179	10	risk	risk	NOUN
fsr-3177	179	11	capacity	capacity	NOUN
fsr-3177	179	12	then	then	ADV
fsr-3177	179	13	the	the	DET
fsr-3177	179	14	mapping	mapping	NOUN
fsr-3177	179	15	simplifies	simplifie	NOUN
fsr-3177	179	16	to	to	ADP
fsr-3177	179	17	a	a	DET
fsr-3177	179	18	simple	simple	ADJ
fsr-3177	179	19	risk	risk	NOUN
fsr-3177	179	20	scale	scale	NOUN
fsr-3177	179	21	from	from	ADP
fsr-3177	179	22	0	0	NUM
fsr-3177	179	23	to	to	ADP
fsr-3177	179	24	2.5	2.5	NUM
fsr-3177	179	25	,	,	PUNCT
fsr-3177	179	26	with	with	ADP
fsr-3177	179	27	seven	seven	NUM
fsr-3177	179	28	risk	risk	NOUN
fsr-3177	179	29	bands	band	NOUN
fsr-3177	179	30	as	as	SCONJ
fsr-3177	179	31	shown	show	VERB
fsr-3177	179	32	in	in	ADP
fsr-3177	179	33	table	table	NOUN
fsr-3177	179	34	7	7	NUM
fsr-3177	179	35	.	.	PUNCT
fsr-3177	179	36	table	table	NOUN
fsr-3177	179	37	7	7	NUM
fsr-3177	179	38	.	.	PUNCT
fsr-3177	179	39	var	var	NOUN
fsr-3177	179	40	based	base	VERB
fsr-3177	179	41	on	on	ADP
fsr-3177	179	42	riskcat	riskcat	NOUN
fsr-3177	179	43	portfolio	portfolio	NOUN
fsr-3177	179	44	risk	risk	NOUN
fsr-3177	179	45	class	class	NOUN
fsr-3177	179	46	var	var	NOUN
fsr-3177	179	47	@	@	ADP
fsr-3177	179	48	68	68	NUM
fsr-3177	179	49	%	%	NOUN
fsr-3177	179	50	var	var	NOUN
fsr-3177	179	51	@	@	ADP
fsr-3177	179	52	90	90	NUM
fsr-3177	179	53	%	%	NOUN
fsr-3177	179	54	var	var	NOUN
fsr-3177	179	55	@	@	ADP
fsr-3177	179	56	95	95	NUM
fsr-3177	179	57	%	%	NOUN
fsr-3177	179	58	var	var	NOUN
fsr-3177	179	59	@	@	ADP
fsr-3177	179	60	99	99	NUM
fsr-3177	179	61	%	%	NOUN
fsr-3177	179	62	1	1	NUM
fsr-3177	179	63	0.36	0.36	NUM
fsr-3177	179	64	2.1	2.1	NUM
fsr-3177	179	65	%	%	NOUN
fsr-3177	179	66	4.4	4.4	NUM
fsr-3177	179	67	%	%	NOUN
fsr-3177	179	68	7.5	7.5	NUM
fsr-3177	179	69	%	%	NOUN
fsr-3177	179	70	13.2	13.2	NUM
fsr-3177	179	71	%	%	NOUN
fsr-3177	179	72	2	2	NUM
fsr-3177	179	73	0.71	0.71	NUM
fsr-3177	179	74	7.8	7.8	NUM
fsr-3177	179	75	%	%	NOUN
fsr-3177	179	76	12.5	12.5	NUM
fsr-3177	179	77	%	%	NOUN
fsr-3177	179	78	18.7	18.7	NUM
fsr-3177	179	79	%	%	NOUN
fsr-3177	179	80	30.0	30.0	NUM
fsr-3177	179	81	%	%	NOUN
fsr-3177	179	82	3	3	NUM
fsr-3177	179	83	1.07	1.07	NUM
fsr-3177	179	84	13.6	13.6	NUM
fsr-3177	179	85	%	%	NOUN
fsr-3177	179	86	20.6	20.6	NUM
fsr-3177	179	87	%	%	NOUN
fsr-3177	179	88	29.9	29.9	NUM
fsr-3177	179	89	%	%	NOUN
fsr-3177	179	90	46.9	46.9	NUM
fsr-3177	179	91	%	%	NOUN
fsr-3177	179	92	4	4	NUM
fsr-3177	179	93	1.43	1.43	NUM
fsr-3177	179	94	19.3	19.3	NUM
fsr-3177	179	95	%	%	NOUN
fsr-3177	179	96	28.7	28.7	NUM
fsr-3177	179	97	%	%	NOUN
fsr-3177	179	98	41.1	41.1	NUM
fsr-3177	179	99	%	%	NOUN
fsr-3177	179	100	63.8	63.8	NUM
fsr-3177	179	101	%	%	NOUN
fsr-3177	179	102	5	5	NUM
fsr-3177	179	103	1.79	1.79	NUM
fsr-3177	179	104	25.1	25.1	NUM
fsr-3177	179	105	%	%	NOUN
fsr-3177	179	106	36.8	36.8	NUM
fsr-3177	179	107	%	%	NOUN
fsr-3177	179	108	52.2	52.2	NUM
fsr-3177	179	109	%	%	NOUN
fsr-3177	179	110	80.6	80.6	NUM
fsr-3177	179	111	%	%	NOUN
fsr-3177	179	112	6	6	NUM
fsr-3177	179	113	2.14	2.14	NUM
fsr-3177	179	114	30.9	30.9	NUM
fsr-3177	179	115	%	%	NOUN
fsr-3177	179	116	44.9	44.9	NUM
fsr-3177	179	117	%	%	NOUN
fsr-3177	179	118	63.4	63.4	NUM
fsr-3177	179	119	%	%	NOUN
fsr-3177	179	120	97.5	97.5	NUM
fsr-3177	179	121	%	%	NOUN
fsr-3177	179	122	7	7	NUM
fsr-3177	179	123	2.50	2.50	NUM
fsr-3177	179	124	36.6	36.6	NUM
fsr-3177	179	125	%	%	NOUN
fsr-3177	179	126	53.0	53.0	NUM
fsr-3177	179	127	%	%	NOUN
fsr-3177	179	128	74.6	74.6	NUM
fsr-3177	179	129	%	%	NOUN
fsr-3177	179	130	114.4	114.4	NUM
fsr-3177	179	131	%	%	NOUN
fsr-3177	179	132	brayman	brayman	NOUN
fsr-3177	179	133	et	et	PROPN
fsr-3177	179	134	al	al	PROPN
fsr-3177	179	135	.	.	PROPN
fsr-3177	180	1	259	259	NUM
fsr-3177	180	2	table	table	NOUN
fsr-3177	180	3	8	8	NUM
fsr-3177	180	4	illustrates	illustrate	VERB
fsr-3177	180	5	what	what	PRON
fsr-3177	180	6	occurs	occur	VERB
fsr-3177	180	7	when	when	SCONJ
fsr-3177	180	8	the	the	DET
fsr-3177	180	9	seven	seven	NUM
fsr-3177	180	10	portfolios	portfolio	NOUN
fsr-3177	180	11	for	for	ADP
fsr-3177	180	12	each	each	PRON
fsr-3177	180	13	of	of	ADP
fsr-3177	180	14	the	the	DET
fsr-3177	180	15	four	four	NUM
fsr-3177	180	16	countries	country	NOUN
fsr-3177	180	17	is	be	AUX
fsr-3177	180	18	mapped	map	VERB
fsr-3177	180	19	to	to	ADP
fsr-3177	180	20	the	the	DET
fsr-3177	180	21	riskcat	riskcat	NOUN
fsr-3177	180	22	using	use	VERB
fsr-3177	180	23	7	7	NUM
fsr-3177	180	24	equal	equal	ADJ
fsr-3177	180	25	bands	band	NOUN
fsr-3177	180	26	.	.	PUNCT
fsr-3177	181	1	table	table	NOUN
fsr-3177	181	2	8	8	NUM
fsr-3177	181	3	.	.	PUNCT
fsr-3177	182	1	var	var	NOUN
fsr-3177	182	2	mapping	mapping	NOUN
fsr-3177	182	3	at	at	ADP
fsr-3177	182	4	90	90	NUM
fsr-3177	182	5	%	%	NOUN
fsr-3177	182	6	certainty	certainty	NOUN
fsr-3177	182	7	based	base	VERB
fsr-3177	182	8	on	on	ADP
fsr-3177	182	9	riskcat	riskcat	ADJ
fsr-3177	182	10	portfolio	portfolio	NOUN
fsr-3177	182	11	90	90	NUM
fsr-3177	182	12	%	%	NOUN
fsr-3177	182	13	australia	australia	PROPN
fsr-3177	182	14	canada	canada	PROPN
fsr-3177	182	15	united	united	PROPN
fsr-3177	182	16	kingdom	kingdom	PROPN
fsr-3177	182	17	u.s	u.s	PROPN
fsr-3177	182	18	.	.	PROPN
fsr-3177	182	19	var	var	PROPN
fsr-3177	182	20	var	var	PROPN
fsr-3177	182	21	risk	risk	NOUN
fsr-3177	182	22	class	class	NOUN
fsr-3177	182	23	var	var	NOUN
fsr-3177	182	24	risk	risk	NOUN
fsr-3177	182	25	class	class	NOUN
fsr-3177	182	26	var	var	NOUN
fsr-3177	182	27	risk	risk	NOUN
fsr-3177	182	28	class	class	NOUN
fsr-3177	182	29	var	var	NOUN
fsr-3177	182	30	risk	risk	NOUN
fsr-3177	182	31	class	class	NOUN
fsr-3177	182	32	1	1	NUM
fsr-3177	182	33	4.4	4.4	NUM
fsr-3177	182	34	%	%	NOUN
fsr-3177	182	35	2.2	2.2	NUM
fsr-3177	182	36	%	%	NOUN
fsr-3177	182	37	1	1	NUM
fsr-3177	182	38	1.1	1.1	NUM
fsr-3177	182	39	%	%	NOUN
fsr-3177	182	40	1	1	NUM
fsr-3177	182	41	1.6	1.6	NUM
fsr-3177	182	42	%	%	NOUN
fsr-3177	182	43	1	1	NUM
fsr-3177	182	44	1.2	1.2	NUM
fsr-3177	182	45	%	%	NOUN
fsr-3177	182	46	1	1	NUM
fsr-3177	182	47	2	2	NUM
fsr-3177	182	48	12.5	12.5	NUM
fsr-3177	182	49	%	%	NOUN
fsr-3177	182	50	1.4	1.4	NUM
fsr-3177	182	51	%	%	NOUN
fsr-3177	182	52	1	1	NUM
fsr-3177	182	53	1.0	1.0	NUM
fsr-3177	182	54	%	%	NOUN
fsr-3177	182	55	1	1	NUM
fsr-3177	182	56	1.1	1.1	NUM
fsr-3177	182	57	%	%	NOUN
fsr-3177	182	58	1	1	NUM
fsr-3177	182	59	0.6	0.6	NUM
fsr-3177	182	60	%	%	NOUN
fsr-3177	182	61	1	1	NUM
fsr-3177	182	62	3	3	NUM
fsr-3177	182	63	20.6	20.6	NUM
fsr-3177	182	64	%	%	NOUN
fsr-3177	182	65	1.2	1.2	NUM
fsr-3177	182	66	%	%	NOUN
fsr-3177	182	67	1	1	NUM
fsr-3177	182	68	1.0	1.0	NUM
fsr-3177	182	69	%	%	NOUN
fsr-3177	182	70	1	1	NUM
fsr-3177	182	71	1.3	1.3	NUM
fsr-3177	182	72	%	%	NOUN
fsr-3177	182	73	1	1	NUM
fsr-3177	182	74	1.1	1.1	NUM
fsr-3177	182	75	%	%	NOUN
fsr-3177	182	76	1	1	NUM
fsr-3177	182	77	4	4	NUM
fsr-3177	182	78	28.7	28.7	NUM
fsr-3177	182	79	%	%	NOUN
fsr-3177	182	80	4.4	4.4	NUM
fsr-3177	182	81	%	%	NOUN
fsr-3177	182	82	2	2	NUM
fsr-3177	182	83	3.3	3.3	NUM
fsr-3177	182	84	%	%	NOUN
fsr-3177	182	85	1	1	NUM
fsr-3177	182	86	4.4	4.4	NUM
fsr-3177	182	87	%	%	NOUN
fsr-3177	182	88	2	2	NUM
fsr-3177	182	89	3.9	3.9	NUM
fsr-3177	182	90	%	%	NOUN
fsr-3177	182	91	1	1	NUM
fsr-3177	182	92	5	5	NUM
fsr-3177	182	93	36.8	36.8	NUM
fsr-3177	182	94	%	%	NOUN
fsr-3177	182	95	8.0	8.0	NUM
fsr-3177	182	96	%	%	NOUN
fsr-3177	182	97	2	2	NUM
fsr-3177	182	98	5.9	5.9	NUM
fsr-3177	182	99	%	%	NOUN
fsr-3177	182	100	2	2	NUM
fsr-3177	182	101	9.1	9.1	NUM
fsr-3177	182	102	%	%	NOUN
fsr-3177	182	103	2	2	NUM
fsr-3177	182	104	7.9	7.9	NUM
fsr-3177	182	105	%	%	NOUN
fsr-3177	182	106	2	2	NUM
fsr-3177	182	107	6	6	NUM
fsr-3177	182	108	44.9	44.9	NUM
fsr-3177	182	109	%	%	NOUN
fsr-3177	182	110	11.6	11.6	NUM
fsr-3177	182	111	%	%	NOUN
fsr-3177	182	112	2	2	NUM
fsr-3177	182	113	9.1	9.1	NUM
fsr-3177	182	114	%	%	NOUN
fsr-3177	182	115	2	2	NUM
fsr-3177	182	116	14.9	14.9	NUM
fsr-3177	182	117	%	%	NOUN
fsr-3177	182	118	3	3	NUM
fsr-3177	182	119	12.7	12.7	NUM
fsr-3177	182	120	%	%	NOUN
fsr-3177	182	121	3	3	NUM
fsr-3177	182	122	7	7	NUM
fsr-3177	182	123	53.0	53.0	NUM
fsr-3177	182	124	%	%	NOUN
fsr-3177	182	125	18.5	18.5	NUM
fsr-3177	182	126	%	%	NOUN
fsr-3177	182	127	3	3	NUM
fsr-3177	182	128	17.1	17.1	NUM
fsr-3177	182	129	%	%	NOUN
fsr-3177	182	130	3	3	NUM
fsr-3177	182	131	21.4	21.4	NUM
fsr-3177	182	132	%	%	NOUN
fsr-3177	182	133	4	4	NUM
fsr-3177	182	134	22.1	22.1	NUM
fsr-3177	182	135	%	%	NOUN
fsr-3177	182	136	4	4	NUM
fsr-3177	182	137	a	a	DET
fsr-3177	182	138	variation	variation	NOUN
fsr-3177	182	139	in	in	ADP
fsr-3177	182	140	the	the	DET
fsr-3177	182	141	certainty	certainty	NOUN
fsr-3177	182	142	level	level	NOUN
fsr-3177	182	143	should	should	AUX
fsr-3177	182	144	result	result	VERB
fsr-3177	182	145	in	in	ADP
fsr-3177	182	146	a	a	DET
fsr-3177	182	147	change	change	NOUN
fsr-3177	182	148	in	in	ADP
fsr-3177	182	149	the	the	DET
fsr-3177	182	150	breakpoints	breakpoint	NOUN
fsr-3177	182	151	from	from	ADP
fsr-3177	182	152	riskcat	riskcat	NOUN
fsr-3177	182	153	and	and	CCONJ
fsr-3177	182	154	in	in	ADP
fsr-3177	182	155	the	the	DET
fsr-3177	182	156	calculated	calculate	VERB
fsr-3177	182	157	var	var	NOUN
fsr-3177	182	158	from	from	ADP
fsr-3177	182	159	the	the	DET
fsr-3177	182	160	seven	seven	NUM
fsr-3177	182	161	portfolios	portfolio	NOUN
fsr-3177	182	162	.	.	PUNCT
fsr-3177	183	1	we	we	PRON
fsr-3177	183	2	considered	consider	VERB
fsr-3177	183	3	recalibrating	recalibrate	VERB
fsr-3177	183	4	the	the	DET
fsr-3177	183	5	investment	investment	NOUN
fsr-3177	183	6	index	index	NOUN
fsr-3177	183	7	for	for	ADP
fsr-3177	183	8	each	each	DET
fsr-3177	183	9	country	country	NOUN
fsr-3177	183	10	,	,	PUNCT
fsr-3177	183	11	although	although	SCONJ
fsr-3177	183	12	this	this	PRON
fsr-3177	183	13	became	become	VERB
fsr-3177	183	14	more	more	ADV
fsr-3177	183	15	problematic	problematic	ADJ
fsr-3177	183	16	as	as	ADP
fsr-3177	183	17	countries	country	NOUN
fsr-3177	183	18	outside	outside	ADP
fsr-3177	183	19	the	the	DET
fsr-3177	183	20	united	united	PROPN
fsr-3177	183	21	states	states	PROPN
fsr-3177	183	22	are	be	AUX
fsr-3177	183	23	unlikely	unlikely	ADJ
fsr-3177	183	24	to	to	PART
fsr-3177	183	25	have	have	VERB
fsr-3177	183	26	as	as	ADV
fsr-3177	183	27	strong	strong	ADJ
fsr-3177	183	28	a	a	DET
fsr-3177	183	29	concentration	concentration	NOUN
fsr-3177	183	30	on	on	ADP
fsr-3177	183	31	their	their	PRON
fsr-3177	183	32	own	own	ADJ
fsr-3177	183	33	domestic	domestic	ADJ
fsr-3177	183	34	equities	equity	NOUN
fsr-3177	183	35	,	,	PUNCT
fsr-3177	183	36	have	have	AUX
fsr-3177	183	37	as	as	ADV
fsr-3177	183	38	developed	develop	VERB
fsr-3177	183	39	a	a	DET
fsr-3177	183	40	small	small	ADJ
fsr-3177	183	41	cap	cap	NOUN
fsr-3177	183	42	market	market	NOUN
fsr-3177	183	43	and	and	CCONJ
fsr-3177	183	44	definitely	definitely	ADV
fsr-3177	183	45	not	not	PART
fsr-3177	183	46	be	be	AUX
fsr-3177	183	47	as	as	ADV
fsr-3177	183	48	concentrated	concentrate	VERB
fsr-3177	183	49	in	in	ADP
fsr-3177	183	50	u.s	u.s	PROPN
fsr-3177	183	51	.	.	PROPN
fsr-3177	183	52	equities	equity	NOUN
fsr-3177	183	53	.	.	PUNCT
fsr-3177	184	1	in	in	ADP
fsr-3177	184	2	reviewing	review	VERB
fsr-3177	184	3	the	the	DET
fsr-3177	184	4	riskcat	riskcat	NOUN
fsr-3177	184	5	results	result	NOUN
fsr-3177	184	6	,	,	PUNCT
fsr-3177	184	7	one	one	PRON
fsr-3177	184	8	can	can	AUX
fsr-3177	184	9	see	see	VERB
fsr-3177	184	10	that	that	SCONJ
fsr-3177	184	11	“	"	PUNCT
fsr-3177	184	12	by	by	ADP
fsr-3177	184	13	design	design	NOUN
fsr-3177	184	14	”	"	PUNCT
fsr-3177	184	15	the	the	DET
fsr-3177	184	16	system	system	NOUN
fsr-3177	184	17	was	be	AUX
fsr-3177	184	18	conceived	conceive	VERB
fsr-3177	184	19	to	to	PART
fsr-3177	184	20	support	support	VERB
fsr-3177	184	21	up	up	ADP
fsr-3177	184	22	to	to	PART
fsr-3177	184	23	2.5	2.5	NUM
fsr-3177	184	24	times	time	NOUN
fsr-3177	184	25	the	the	DET
fsr-3177	184	26	risk	risk	NOUN
fsr-3177	184	27	and	and	CCONJ
fsr-3177	184	28	return	return	NOUN
fsr-3177	184	29	of	of	ADP
fsr-3177	184	30	a	a	DET
fsr-3177	184	31	100	100	NUM
fsr-3177	184	32	%	%	NOUN
fsr-3177	184	33	equity	equity	NOUN
fsr-3177	184	34	portfolio	portfolio	NOUN
fsr-3177	184	35	,	,	PUNCT
fsr-3177	184	36	so	so	ADV
fsr-3177	184	37	portfolio	portfolio	NOUN
fsr-3177	184	38	3	3	NUM
fsr-3177	184	39	aligns	align	VERB
fsr-3177	184	40	with	with	ADP
fsr-3177	184	41	this	this	DET
fsr-3177	184	42	100	100	NUM
fsr-3177	184	43	%	%	NOUN
fsr-3177	184	44	equity	equity	NOUN
fsr-3177	184	45	portfolio	portfolio	NOUN
fsr-3177	184	46	.	.	PUNCT
fsr-3177	185	1	it	it	PRON
fsr-3177	185	2	is	be	AUX
fsr-3177	185	3	worth	worth	ADJ
fsr-3177	185	4	noting	note	VERB
fsr-3177	185	5	that	that	SCONJ
fsr-3177	185	6	when	when	SCONJ
fsr-3177	185	7	riskcat	riskcat	NOUN
fsr-3177	185	8	was	be	AUX
fsr-3177	185	9	originally	originally	ADV
fsr-3177	185	10	published	publish	VERB
fsr-3177	185	11	,	,	PUNCT
fsr-3177	185	12	the	the	DET
fsr-3177	185	13	model	model	NOUN
fsr-3177	185	14	was	be	AUX
fsr-3177	185	15	developed	develop	VERB
fsr-3177	185	16	using	use	VERB
fsr-3177	185	17	a	a	DET
fsr-3177	185	18	group	group	NOUN
fsr-3177	185	19	of	of	ADP
fsr-3177	185	20	advisors	advisor	NOUN
fsr-3177	185	21	in	in	ADP
fsr-3177	185	22	a	a	DET
fsr-3177	185	23	session	session	NOUN
fsr-3177	185	24	.	.	PUNCT
fsr-3177	186	1	at	at	ADP
fsr-3177	186	2	that	that	DET
fsr-3177	186	3	time	time	NOUN
fsr-3177	186	4	,	,	PUNCT
fsr-3177	186	5	the	the	DET
fsr-3177	186	6	belief	belief	NOUN
fsr-3177	186	7	in	in	ADP
fsr-3177	186	8	a	a	DET
fsr-3177	186	9	“	"	PUNCT
fsr-3177	186	10	secret	secret	ADJ
fsr-3177	186	11	sauce	sauce	NOUN
fsr-3177	186	12	”	"	PUNCT
fsr-3177	186	13	for	for	ADP
fsr-3177	186	14	investing	investing	NOUN
fsr-3177	186	15	was	be	AUX
fsr-3177	186	16	more	more	ADV
fsr-3177	186	17	dominant	dominant	ADJ
fsr-3177	186	18	than	than	ADP
fsr-3177	186	19	today	today	NOUN
fsr-3177	186	20	when	when	SCONJ
fsr-3177	186	21	most	most	ADJ
fsr-3177	186	22	financial	financial	ADJ
fsr-3177	186	23	advisors	advisor	NOUN
fsr-3177	186	24	are	be	AUX
fsr-3177	186	25	focused	focus	VERB
fsr-3177	186	26	on	on	ADP
fsr-3177	186	27	marginal	marginal	ADJ
fsr-3177	186	28	improvements	improvement	NOUN
fsr-3177	186	29	in	in	ADP
fsr-3177	186	30	returns	return	NOUN
fsr-3177	186	31	or	or	CCONJ
fsr-3177	186	32	reductions	reduction	NOUN
fsr-3177	186	33	in	in	ADP
fsr-3177	186	34	risk	risk	NOUN
fsr-3177	186	35	from	from	ADP
fsr-3177	186	36	relevant	relevant	ADJ
fsr-3177	186	37	indices	index	NOUN
fsr-3177	186	38	.	.	PUNCT
fsr-3177	187	1	as	as	ADP
fsr-3177	187	2	such	such	ADJ
fsr-3177	187	3	,	,	PUNCT
fsr-3177	187	4	we	we	PRON
fsr-3177	187	5	utilized	utilize	VERB
fsr-3177	187	6	the	the	DET
fsr-3177	187	7	same	same	ADJ
fsr-3177	187	8	methodology	methodology	NOUN
fsr-3177	187	9	and	and	CCONJ
fsr-3177	187	10	rescaled	rescale	VERB
fsr-3177	187	11	riskcat	riskcat	NOUN
fsr-3177	187	12	using	use	VERB
fsr-3177	187	13	a	a	DET
fsr-3177	187	14	more	more	ADV
fsr-3177	187	15	contemporary	contemporary	ADJ
fsr-3177	187	16	assumption	assumption	NOUN
fsr-3177	187	17	of	of	ADP
fsr-3177	187	18	1.25x	1.25x	NUM
fsr-3177	187	19	market	market	NOUN
fsr-3177	187	20	as	as	ADP
fsr-3177	187	21	the	the	DET
fsr-3177	187	22	upper	upper	ADJ
fsr-3177	187	23	bound	bind	VERB
fsr-3177	187	24	for	for	ADP
fsr-3177	187	25	an	an	DET
fsr-3177	187	26	investor	investor	NOUN
fsr-3177	187	27	that	that	PRON
fsr-3177	187	28	has	have	VERB
fsr-3177	187	29	high	high	ADJ
fsr-3177	187	30	tolerance	tolerance	NOUN
fsr-3177	187	31	for	for	ADP
fsr-3177	187	32	risk	risk	NOUN
fsr-3177	187	33	,	,	PUNCT
fsr-3177	187	34	capacity	capacity	NOUN
fsr-3177	187	35	for	for	ADP
fsr-3177	187	36	loss	loss	NOUN
fsr-3177	187	37	,	,	PUNCT
fsr-3177	187	38	and	and	CCONJ
fsr-3177	187	39	time	time	NOUN
fsr-3177	187	40	horizon	horizon	PROPN
fsr-3177	187	41	(	(	PUNCT
fsr-3177	187	42	called	call	VERB
fsr-3177	187	43	riskcat	riskcat	NOUN
fsr-3177	187	44	2	2	NUM
fsr-3177	187	45	here	here	ADV
fsr-3177	187	46	)	)	PUNCT
fsr-3177	187	47	.	.	PUNCT
fsr-3177	188	1	the	the	DET
fsr-3177	188	2	result	result	NOUN
fsr-3177	188	3	of	of	ADP
fsr-3177	188	4	the	the	DET
fsr-3177	188	5	rescaling	rescaling	NOUN
fsr-3177	188	6	is	be	AUX
fsr-3177	188	7	shown	show	VERB
fsr-3177	188	8	in	in	ADP
fsr-3177	188	9	tables	table	NOUN
fsr-3177	188	10	9	9	NUM
fsr-3177	188	11	and	and	CCONJ
fsr-3177	188	12	10	10	NUM
fsr-3177	188	13	.	.	PUNCT
fsr-3177	189	1	financial	financial	ADJ
fsr-3177	189	2	services	service	NOUN
fsr-3177	189	3	review	review	NOUN
fsr-3177	189	4	,	,	PUNCT
fsr-3177	189	5	31(4	31(4	NUM
fsr-3177	189	6	)	)	PUNCT
fsr-3177	189	7	260	260	NUM
fsr-3177	189	8	table	table	NOUN
fsr-3177	189	9	9	9	NUM
fsr-3177	189	10	.	.	PUNCT
fsr-3177	190	1	thresholds	threshold	NOUN
fsr-3177	190	2	based	base	VERB
fsr-3177	190	3	on	on	ADP
fsr-3177	190	4	riskcat	riskcat	NOUN
fsr-3177	190	5	2	2	NUM
fsr-3177	190	6	(	(	PUNCT
fsr-3177	190	7	rescaled	rescaled	ADJ
fsr-3177	190	8	beta	beta	NOUN
fsr-3177	190	9	)	)	PUNCT
fsr-3177	190	10	portfolio	portfolio	NOUN
fsr-3177	190	11	risk	risk	NOUN
fsr-3177	190	12	class	class	NOUN
fsr-3177	190	13	var	var	NOUN
fsr-3177	190	14	@	@	ADP
fsr-3177	190	15	68	68	NUM
fsr-3177	190	16	%	%	NOUN
fsr-3177	190	17	var	var	NOUN
fsr-3177	190	18	@	@	ADP
fsr-3177	190	19	90	90	NUM
fsr-3177	190	20	%	%	NOUN
fsr-3177	190	21	var	var	NOUN
fsr-3177	190	22	@	@	ADP
fsr-3177	190	23	95	95	NUM
fsr-3177	190	24	%	%	NOUN
fsr-3177	190	25	var	var	NOUN
fsr-3177	190	26	@	@	ADP
fsr-3177	190	27	99	99	NUM
fsr-3177	190	28	%	%	NOUN
fsr-3177	190	29	1	1	NUM
fsr-3177	190	30	0.18	0.18	NUM
fsr-3177	190	31	0.8	0.8	NUM
fsr-3177	190	32	%	%	NOUN
fsr-3177	190	33	0.3	0.3	NUM
fsr-3177	190	34	%	%	NOUN
fsr-3177	190	35	1.9	1.9	NUM
fsr-3177	190	36	%	%	NOUN
fsr-3177	190	37	4.7	4.7	NUM
fsr-3177	190	38	%	%	NOUN
fsr-3177	190	39	2	2	NUM
fsr-3177	190	40	0.36	0.36	NUM
fsr-3177	190	41	2.1	2.1	NUM
fsr-3177	190	42	%	%	NOUN
fsr-3177	190	43	4.4	4.4	NUM
fsr-3177	190	44	%	%	NOUN
fsr-3177	190	45	7.5	7.5	NUM
fsr-3177	190	46	%	%	NOUN
fsr-3177	190	47	13.2	13.2	NUM
fsr-3177	190	48	%	%	NOUN
fsr-3177	190	49	3	3	NUM
fsr-3177	190	50	0.54	0.54	NUM
fsr-3177	190	51	4.9	4.9	NUM
fsr-3177	190	52	%	%	NOUN
fsr-3177	190	53	8.4	8.4	NUM
fsr-3177	190	54	%	%	NOUN
fsr-3177	190	55	13.1	13.1	NUM
fsr-3177	190	56	%	%	NOUN
fsr-3177	190	57	21.6	21.6	NUM
fsr-3177	190	58	%	%	NOUN
fsr-3177	190	59	4	4	NUM
fsr-3177	190	60	0.71	0.71	NUM
fsr-3177	190	61	7.8	7.8	NUM
fsr-3177	190	62	%	%	NOUN
fsr-3177	190	63	12.5	12.5	NUM
fsr-3177	190	64	%	%	NOUN
fsr-3177	190	65	18.7	18.7	NUM
fsr-3177	190	66	%	%	NOUN
fsr-3177	190	67	30.0	30.0	NUM
fsr-3177	190	68	%	%	NOUN
fsr-3177	190	69	5	5	NUM
fsr-3177	190	70	0.89	0.89	NUM
fsr-3177	190	71	10.7	10.7	NUM
fsr-3177	190	72	%	%	NOUN
fsr-3177	190	73	16.5	16.5	NUM
fsr-3177	190	74	%	%	NOUN
fsr-3177	190	75	24.3	24.3	NUM
fsr-3177	190	76	%	%	NOUN
fsr-3177	190	77	38.5	38.5	NUM
fsr-3177	190	78	%	%	NOUN
fsr-3177	190	79	6	6	NUM
fsr-3177	190	80	1.07	1.07	NUM
fsr-3177	190	81	13.6	13.6	NUM
fsr-3177	190	82	%	%	NOUN
fsr-3177	190	83	20.6	20.6	NUM
fsr-3177	190	84	%	%	NOUN
fsr-3177	190	85	29.9	29.9	NUM
fsr-3177	190	86	%	%	NOUN
fsr-3177	190	87	46.9	46.9	NUM
fsr-3177	190	88	%	%	NOUN
fsr-3177	190	89	7	7	NUM
fsr-3177	190	90	1.25	1.25	NUM
fsr-3177	190	91	16.5	16.5	NUM
fsr-3177	190	92	%	%	NOUN
fsr-3177	190	93	24.6	24.6	NUM
fsr-3177	190	94	%	%	NOUN
fsr-3177	190	95	35.5	35.5	NUM
fsr-3177	190	96	%	%	NOUN
fsr-3177	190	97	55.3	55.3	NUM
fsr-3177	190	98	%	%	NOUN
fsr-3177	190	99	table	table	NOUN
fsr-3177	190	100	10	10	NUM
fsr-3177	190	101	.	.	PUNCT
fsr-3177	191	1	mapping	mapping	NOUN
fsr-3177	191	2	based	base	VERB
fsr-3177	191	3	on	on	ADP
fsr-3177	191	4	riskcat	riskcat	NOUN
fsr-3177	191	5	2	2	NUM
fsr-3177	191	6	(	(	PUNCT
fsr-3177	191	7	rescaled	rescaled	ADJ
fsr-3177	191	8	beta	beta	NOUN
fsr-3177	191	9	)	)	PUNCT
fsr-3177	191	10	portfolio	portfolio	NOUN
fsr-3177	191	11	90	90	NUM
fsr-3177	191	12	%	%	NOUN
fsr-3177	191	13	australia	australia	PROPN
fsr-3177	191	14	canada	canada	PROPN
fsr-3177	191	15	united	united	PROPN
fsr-3177	191	16	kingdom	kingdom	PROPN
fsr-3177	191	17	u.s	u.s	PROPN
fsr-3177	191	18	.	.	PROPN
fsr-3177	191	19	var	var	PROPN
fsr-3177	191	20	var	var	PROPN
fsr-3177	191	21	risk	risk	NOUN
fsr-3177	191	22	class	class	NOUN
fsr-3177	191	23	var	var	NOUN
fsr-3177	191	24	risk	risk	NOUN
fsr-3177	191	25	class	class	NOUN
fsr-3177	191	26	var	var	NOUN
fsr-3177	191	27	risk	risk	NOUN
fsr-3177	191	28	class	class	NOUN
fsr-3177	191	29	var	var	NOUN
fsr-3177	191	30	risk	risk	NOUN
fsr-3177	191	31	class	class	NOUN
fsr-3177	191	32	1	1	NUM
fsr-3177	191	33	0.3	0.3	NUM
fsr-3177	191	34	%	%	NOUN
fsr-3177	191	35	2.2	2.2	NUM
fsr-3177	191	36	%	%	NOUN
fsr-3177	191	37	2	2	NUM
fsr-3177	191	38	1.1	1.1	NUM
fsr-3177	191	39	%	%	NOUN
fsr-3177	191	40	2	2	NUM
fsr-3177	191	41	1.6	1.6	NUM
fsr-3177	191	42	%	%	NOUN
fsr-3177	191	43	2	2	NUM
fsr-3177	191	44	1.2	1.2	NUM
fsr-3177	191	45	%	%	NOUN
fsr-3177	191	46	2	2	NUM
fsr-3177	191	47	2	2	NUM
fsr-3177	191	48	4.4	4.4	NUM
fsr-3177	191	49	%	%	NOUN
fsr-3177	191	50	1.4	1.4	NUM
fsr-3177	191	51	%	%	NOUN
fsr-3177	191	52	2	2	NUM
fsr-3177	191	53	1.0	1.0	NUM
fsr-3177	191	54	%	%	NOUN
fsr-3177	191	55	2	2	NUM
fsr-3177	191	56	1.1	1.1	NUM
fsr-3177	191	57	%	%	NOUN
fsr-3177	191	58	2	2	NUM
fsr-3177	191	59	0.6	0.6	NUM
fsr-3177	191	60	%	%	NOUN
fsr-3177	191	61	2	2	NUM
fsr-3177	191	62	3	3	NUM
fsr-3177	191	63	8.4	8.4	NUM
fsr-3177	191	64	%	%	NOUN
fsr-3177	191	65	1.2	1.2	NUM
fsr-3177	191	66	%	%	NOUN
fsr-3177	191	67	2	2	NUM
fsr-3177	191	68	1.0	1.0	NUM
fsr-3177	191	69	%	%	NOUN
fsr-3177	191	70	2	2	NUM
fsr-3177	191	71	1.3	1.3	NUM
fsr-3177	191	72	%	%	NOUN
fsr-3177	191	73	2	2	NUM
fsr-3177	191	74	1.1	1.1	NUM
fsr-3177	191	75	%	%	NOUN
fsr-3177	191	76	2	2	NUM
fsr-3177	191	77	4	4	NUM
fsr-3177	191	78	12.5	12.5	NUM
fsr-3177	191	79	%	%	NOUN
fsr-3177	191	80	4.4	4.4	NUM
fsr-3177	191	81	%	%	NOUN
fsr-3177	191	82	3	3	NUM
fsr-3177	191	83	3.3	3.3	NUM
fsr-3177	191	84	%	%	NOUN
fsr-3177	191	85	2	2	NUM
fsr-3177	191	86	4.4	4.4	NUM
fsr-3177	191	87	%	%	NOUN
fsr-3177	191	88	3	3	NUM
fsr-3177	191	89	3.9	3.9	NUM
fsr-3177	191	90	%	%	NOUN
fsr-3177	191	91	2	2	NUM
fsr-3177	191	92	5	5	NUM
fsr-3177	191	93	16.5	16.5	NUM
fsr-3177	191	94	%	%	NOUN
fsr-3177	191	95	8.0	8.0	NUM
fsr-3177	191	96	%	%	NOUN
fsr-3177	191	97	3	3	NUM
fsr-3177	191	98	5.9	5.9	NUM
fsr-3177	191	99	%	%	NOUN
fsr-3177	191	100	3	3	NUM
fsr-3177	191	101	9.1	9.1	NUM
fsr-3177	191	102	%	%	NOUN
fsr-3177	191	103	4	4	NUM
fsr-3177	191	104	7.9	7.9	NUM
fsr-3177	191	105	%	%	NOUN
fsr-3177	191	106	3	3	NUM
fsr-3177	191	107	6	6	NUM
fsr-3177	191	108	20.6	20.6	NUM
fsr-3177	191	109	%	%	NOUN
fsr-3177	191	110	11.6	11.6	NUM
fsr-3177	191	111	%	%	NOUN
fsr-3177	191	112	4	4	NUM
fsr-3177	191	113	9.1	9.1	NUM
fsr-3177	191	114	%	%	NOUN
fsr-3177	191	115	4	4	NUM
fsr-3177	191	116	14.9	14.9	NUM
fsr-3177	191	117	%	%	NOUN
fsr-3177	191	118	5	5	NUM
fsr-3177	191	119	12.7	12.7	NUM
fsr-3177	191	120	%	%	NOUN
fsr-3177	191	121	5	5	NUM
fsr-3177	191	122	7	7	NUM
fsr-3177	191	123	24.6	24.6	NUM
fsr-3177	191	124	%	%	NOUN
fsr-3177	191	125	18.5	18.5	NUM
fsr-3177	191	126	%	%	NOUN
fsr-3177	191	127	6	6	NUM
fsr-3177	191	128	17.1	17.1	NUM
fsr-3177	191	129	%	%	NOUN
fsr-3177	191	130	6	6	NUM
fsr-3177	191	131	21.4	21.4	NUM
fsr-3177	191	132	%	%	NOUN
fsr-3177	191	133	7	7	NUM
fsr-3177	191	134	22.1	22.1	NUM
fsr-3177	191	135	%	%	NOUN
fsr-3177	191	136	7	7	NUM
fsr-3177	191	137	comparing	compare	VERB
fsr-3177	191	138	the	the	DET
fsr-3177	191	139	six	six	NUM
fsr-3177	191	140	methodologies	methodology	NOUN
fsr-3177	191	141	figures	figure	VERB
fsr-3177	191	142	6	6	NUM
fsr-3177	191	143	illustrates	illustrate	VERB
fsr-3177	191	144	for	for	ADP
fsr-3177	191	145	each	each	PRON
fsr-3177	191	146	of	of	ADP
fsr-3177	191	147	the	the	DET
fsr-3177	191	148	four	four	NUM
fsr-3177	191	149	markets	market	NOUN
fsr-3177	191	150	,	,	PUNCT
fsr-3177	191	151	how	how	SCONJ
fsr-3177	191	152	each	each	PRON
fsr-3177	191	153	of	of	ADP
fsr-3177	191	154	the	the	DET
fsr-3177	191	155	six	six	NUM
fsr-3177	191	156	methodologies	methodology	NOUN
fsr-3177	191	157	mapped	map	VERB
fsr-3177	191	158	each	each	DET
fsr-3177	191	159	portfolio	portfolio	NOUN
fsr-3177	191	160	.	.	PUNCT
fsr-3177	192	1	using	use	VERB
fsr-3177	192	2	the	the	DET
fsr-3177	192	3	assumption	assumption	NOUN
fsr-3177	192	4	that	that	SCONJ
fsr-3177	192	5	the	the	DET
fsr-3177	192	6	seven	seven	NUM
fsr-3177	192	7	portfolios	portfolio	NOUN
fsr-3177	192	8	that	that	PRON
fsr-3177	192	9	are	be	AUX
fsr-3177	192	10	evenly	evenly	ADV
fsr-3177	192	11	distributed	distribute	VERB
fsr-3177	192	12	by	by	ADP
fsr-3177	192	13	the	the	DET
fsr-3177	192	14	level	level	NOUN
fsr-3177	192	15	of	of	ADP
fsr-3177	192	16	return	return	NOUN
fsr-3177	192	17	in	in	ADP
fsr-3177	192	18	the	the	DET
fsr-3177	192	19	portfolio	portfolio	NOUN
fsr-3177	192	20	is	be	AUX
fsr-3177	192	21	an	an	DET
fsr-3177	192	22	approach	approach	NOUN
fsr-3177	192	23	for	for	ADP
fsr-3177	192	24	seven	seven	NUM
fsr-3177	192	25	bands	band	NOUN
fsr-3177	192	26	of	of	ADP
fsr-3177	192	27	risk	risk	NOUN
fsr-3177	192	28	(	(	PUNCT
fsr-3177	192	29	not	not	PART
fsr-3177	192	30	necessarily	necessarily	ADV
fsr-3177	192	31	the	the	DET
fsr-3177	192	32	case	case	NOUN
fsr-3177	192	33	,	,	PUNCT
fsr-3177	192	34	but	but	CCONJ
fsr-3177	192	35	a	a	DET
fsr-3177	192	36	baseline	baseline	ADJ
fsr-3177	192	37	assumption	assumption	NOUN
fsr-3177	192	38	)	)	PUNCT
fsr-3177	192	39	,	,	PUNCT
fsr-3177	192	40	one	one	PRON
fsr-3177	192	41	can	can	AUX
fsr-3177	192	42	observe	observe	VERB
fsr-3177	192	43	:	:	PUNCT
fsr-3177	192	44	many	many	ADJ
fsr-3177	192	45	models	model	NOUN
fsr-3177	192	46	struggle	struggle	VERB
fsr-3177	192	47	with	with	ADP
fsr-3177	192	48	what	what	PRON
fsr-3177	192	49	a	a	DET
fsr-3177	192	50	financial	financial	ADJ
fsr-3177	192	51	advisor	advisor	NOUN
fsr-3177	192	52	would	would	AUX
fsr-3177	192	53	consider	consider	VERB
fsr-3177	192	54	an	an	DET
fsr-3177	192	55	“	"	PUNCT
fsr-3177	192	56	ultra	ultra	ADJ
fsr-3177	192	57	conservative	conservative	ADJ
fsr-3177	192	58	”	"	PUNCT
fsr-3177	192	59	band	band	NOUN
fsr-3177	192	60	.	.	PUNCT
fsr-3177	193	1	the	the	DET
fsr-3177	193	2	risk	risk	NOUN
fsr-3177	193	3	of	of	ADP
fsr-3177	193	4	cash	cash	NOUN
fsr-3177	193	5	in	in	ADP
fsr-3177	193	6	isolation	isolation	NOUN
fsr-3177	193	7	or	or	CCONJ
fsr-3177	193	8	the	the	DET
fsr-3177	193	9	most	most	ADV
fsr-3177	193	10	conservative	conservative	ADJ
fsr-3177	193	11	efficient	efficient	ADJ
fsr-3177	193	12	portfolio	portfolio	NOUN
fsr-3177	193	13	(	(	PUNCT
fsr-3177	193	14	which	which	PRON
fsr-3177	193	15	has	have	VERB
fsr-3177	193	16	a	a	DET
fsr-3177	193	17	lower	low	ADJ
fsr-3177	193	18	sd	sd	NOUN
fsr-3177	193	19	than	than	ADP
fsr-3177	193	20	cash	cash	NOUN
fsr-3177	193	21	)	)	PUNCT
fsr-3177	193	22	often	often	ADV
fsr-3177	193	23	falls	fall	VERB
fsr-3177	193	24	in	in	ADP
fsr-3177	193	25	risk	risk	NOUN
fsr-3177	193	26	band	band	NOUN
fsr-3177	193	27	2	2	NUM
fsr-3177	193	28	or	or	CCONJ
fsr-3177	193	29	3	3	NUM
fsr-3177	193	30	.	.	PUNCT
fsr-3177	194	1	the	the	DET
fsr-3177	194	2	davey	davey	NOUN
fsr-3177	194	3	(	(	PUNCT
fsr-3177	194	4	2015	2015	NUM
fsr-3177	194	5	)	)	PUNCT
fsr-3177	194	6	equity	equity	NOUN
fsr-3177	194	7	exposure	exposure	NOUN
fsr-3177	194	8	methodology	methodology	NOUN
fsr-3177	194	9	(	(	PUNCT
fsr-3177	194	10	#	#	SYM
fsr-3177	194	11	1	1	NUM
fsr-3177	194	12	)	)	PUNCT
fsr-3177	194	13	has	have	AUX
fsr-3177	194	14	been	be	AUX
fsr-3177	194	15	used	use	VERB
fsr-3177	194	16	in	in	ADP
fsr-3177	194	17	production	production	NOUN
fsr-3177	194	18	with	with	ADP
fsr-3177	194	19	many	many	ADJ
fsr-3177	194	20	countries	country	NOUN
fsr-3177	194	21	and	and	CCONJ
fsr-3177	194	22	for	for	ADP
fsr-3177	194	23	several	several	ADJ
fsr-3177	194	24	years	year	NOUN
fsr-3177	194	25	.	.	PUNCT
fsr-3177	195	1	overall	overall	ADV
fsr-3177	195	2	,	,	PUNCT
fsr-3177	195	3	when	when	SCONJ
fsr-3177	195	4	the	the	DET
fsr-3177	195	5	davey	davey	NOUN
fsr-3177	195	6	approach	approach	NOUN
fsr-3177	195	7	is	be	AUX
fsr-3177	195	8	compared	compare	VERB
fsr-3177	195	9	to	to	ADP
fsr-3177	195	10	a	a	DET
fsr-3177	195	11	simple	simple	ADJ
fsr-3177	195	12	linear	linear	ADJ
fsr-3177	195	13	mapping	mapping	NOUN
fsr-3177	195	14	of	of	ADP
fsr-3177	195	15	the	the	DET
fsr-3177	195	16	seven	seven	NUM
fsr-3177	195	17	portfolios	portfolio	NOUN
fsr-3177	195	18	into	into	ADP
fsr-3177	195	19	seven	seven	NUM
fsr-3177	195	20	risk	risk	NOUN
fsr-3177	195	21	bands	band	NOUN
fsr-3177	195	22	,	,	PUNCT
fsr-3177	195	23	it	it	PRON
fsr-3177	195	24	is	be	AUX
fsr-3177	195	25	the	the	DET
fsr-3177	195	26	closest	close	ADJ
fsr-3177	195	27	overall	overall	NOUN
fsr-3177	195	28	,	,	PUNCT
fsr-3177	195	29	followed	follow	VERB
fsr-3177	195	30	by	by	ADP
fsr-3177	195	31	the	the	DET
fsr-3177	195	32	riskcat	riskcat	ADJ
fsr-3177	195	33	2	2	NUM
fsr-3177	195	34	methodology	methodology	NOUN
fsr-3177	195	35	.	.	PUNCT
fsr-3177	196	1	davey	davey	NOUN
fsr-3177	196	2	’s	’s	PART
fsr-3177	196	3	downside	downside	ADJ
fsr-3177	196	4	expectation	expectation	NOUN
fsr-3177	196	5	(	(	PUNCT
fsr-3177	196	6	#	#	SYM
fsr-3177	196	7	2	2	NUM
fsr-3177	196	8	)	)	PUNCT
fsr-3177	196	9	(	(	PUNCT
fsr-3177	196	10	var	var	NOUN
fsr-3177	196	11	)	)	PUNCT
fsr-3177	196	12	,	,	PUNCT
fsr-3177	196	13	even	even	ADV
fsr-3177	196	14	though	though	SCONJ
fsr-3177	196	15	based	base	VERB
fsr-3177	196	16	on	on	ADP
fsr-3177	196	17	an	an	DET
fsr-3177	196	18	exceptionally	exceptionally	ADV
fsr-3177	196	19	high	high	ADJ
fsr-3177	196	20	certainty	certainty	NOUN
fsr-3177	196	21	requirement	requirement	NOUN
fsr-3177	196	22	,	,	PUNCT
fsr-3177	196	23	places	place	VERB
fsr-3177	196	24	third	third	ADJ
fsr-3177	196	25	overall	overall	NOUN
fsr-3177	196	26	.	.	PUNCT
fsr-3177	197	1	brayman	brayman	NOUN
fsr-3177	197	2	et	et	PROPN
fsr-3177	197	3	al	al	PROPN
fsr-3177	197	4	.	.	PROPN
fsr-3177	197	5	261	261	NUM
fsr-3177	197	6	figure	figure	NOUN
fsr-3177	197	7	6	6	NUM
fsr-3177	197	8	.	.	PUNCT
fsr-3177	198	1	mapping	map	VERB
fsr-3177	198	2	seven	seven	NUM
fsr-3177	198	3	portfolios	portfolio	NOUN
fsr-3177	198	4	using	use	VERB
fsr-3177	198	5	six	six	NUM
fsr-3177	198	6	methodologies	methodology	NOUN
fsr-3177	198	7	into	into	ADP
fsr-3177	198	8	seven	seven	NUM
fsr-3177	198	9	risk	risk	NOUN
fsr-3177	198	10	-	-	PUNCT
fsr-3177	198	11	bands	band	NOUN
fsr-3177	198	12	the	the	DET
fsr-3177	198	13	two	two	NUM
fsr-3177	198	14	approaches	approach	NOUN
fsr-3177	198	15	outlined	outline	VERB
fsr-3177	198	16	by	by	ADP
fsr-3177	198	17	davey	davey	NOUN
fsr-3177	198	18	based	base	VERB
fsr-3177	198	19	on	on	ADP
fsr-3177	198	20	finametrica	finametrica	PROPN
fsr-3177	198	21	data	datum	NOUN
fsr-3177	198	22	were	be	AUX
fsr-3177	198	23	the	the	DET
fsr-3177	198	24	most	most	ADV
fsr-3177	198	25	evenly	evenly	ADJ
fsr-3177	198	26	distribution	distribution	NOUN
fsr-3177	198	27	with	with	ADP
fsr-3177	198	28	seven	seven	NUM
fsr-3177	198	29	portfolio	portfolio	NOUN
fsr-3177	198	30	mapping	mapping	NOUN
fsr-3177	198	31	into	into	ADP
fsr-3177	198	32	seven	seven	NUM
fsr-3177	198	33	client	client	NOUN
fsr-3177	198	34	risk	risk	NOUN
fsr-3177	198	35	bands	band	NOUN
fsr-3177	198	36	,	,	PUNCT
fsr-3177	198	37	but	but	CCONJ
fsr-3177	198	38	from	from	ADP
fsr-3177	198	39	a	a	DET
fsr-3177	198	40	product	product	NOUN
fsr-3177	198	41	perspective	perspective	NOUN
fsr-3177	198	42	the	the	DET
fsr-3177	198	43	methodology	methodology	NOUN
fsr-3177	198	44	using	use	VERB
fsr-3177	198	45	expected	expect	VERB
fsr-3177	198	46	equity	equity	NOUN
fsr-3177	198	47	exposure	exposure	NOUN
fsr-3177	198	48	can	can	AUX
fsr-3177	198	49	only	only	ADV
fsr-3177	198	50	be	be	AUX
fsr-3177	198	51	utilized	utilize	VERB
fsr-3177	198	52	at	at	ADP
fsr-3177	198	53	a	a	DET
fsr-3177	198	54	diversified	diversified	ADJ
fsr-3177	198	55	portfolio	portfolio	NOUN
fsr-3177	198	56	level	level	NOUN
fsr-3177	198	57	,	,	PUNCT
fsr-3177	198	58	not	not	PART
fsr-3177	198	59	at	at	ADP
fsr-3177	198	60	a	a	DET
fsr-3177	198	61	product	product	NOUN
fsr-3177	198	62	level	level	NOUN
fsr-3177	198	63	(	(	PUNCT
fsr-3177	198	64	i.e.	i.e.	X
fsr-3177	198	65	,	,	PUNCT
fsr-3177	198	66	every	every	DET
fsr-3177	198	67	common	common	ADJ
fsr-3177	198	68	stock	stock	NOUN
fsr-3177	198	69	on	on	ADP
fsr-3177	198	70	every	every	DET
fsr-3177	198	71	stock	stock	NOUN
fsr-3177	198	72	market	market	NOUN
fsr-3177	198	73	is	be	AUX
fsr-3177	198	74	considered	consider	VERB
fsr-3177	198	75	the	the	DET
fsr-3177	198	76	same	same	ADJ
fsr-3177	198	77	)	)	PUNCT
fsr-3177	198	78	.	.	PUNCT
fsr-3177	199	1	complex	complex	ADJ
fsr-3177	199	2	solutions	solution	NOUN
fsr-3177	199	3	involving	involve	VERB
fsr-3177	199	4	guarantees	guarantee	NOUN
fsr-3177	199	5	or	or	CCONJ
fsr-3177	199	6	leverage	leverage	NOUN
fsr-3177	199	7	are	be	AUX
fsr-3177	199	8	also	also	ADV
fsr-3177	199	9	outside	outside	ADP
fsr-3177	199	10	of	of	ADP
fsr-3177	199	11	the	the	DET
fsr-3177	199	12	ability	ability	NOUN
fsr-3177	199	13	to	to	PART
fsr-3177	199	14	analyse	analyse	VERB
fsr-3177	199	15	easily	easily	ADV
fsr-3177	199	16	.	.	PUNCT
fsr-3177	200	1	the	the	DET
fsr-3177	200	2	mifid	mifid	ADJ
fsr-3177	200	3	-	-	PUNCT
fsr-3177	200	4	ii	ii	NOUN
fsr-3177	200	5	methodology	methodology	NOUN
fsr-3177	200	6	(	(	PUNCT
fsr-3177	200	7	#	#	SYM
fsr-3177	200	8	3	3	NUM
fsr-3177	200	9	)	)	PUNCT
fsr-3177	200	10	using	use	VERB
fsr-3177	200	11	five	five	NUM
fsr-3177	200	12	-	-	PUNCT
fsr-3177	200	13	year	year	NOUN
fsr-3177	200	14	data	datum	NOUN
fsr-3177	200	15	was	be	AUX
fsr-3177	200	16	the	the	DET
fsr-3177	200	17	most	most	ADV
fsr-3177	200	18	challenged	challenge	VERB
fsr-3177	200	19	models	model	NOUN
fsr-3177	200	20	at	at	ADP
fsr-3177	200	21	the	the	DET
fsr-3177	200	22	tails	tail	NOUN
fsr-3177	200	23	,	,	PUNCT
fsr-3177	200	24	mapping	map	VERB
fsr-3177	200	25	all	all	DET
fsr-3177	200	26	portfolios	portfolio	NOUN
fsr-3177	200	27	into	into	ADP
fsr-3177	200	28	the	the	DET
fsr-3177	200	29	middle	middle	ADJ
fsr-3177	200	30	three	three	NUM
fsr-3177	200	31	or	or	CCONJ
fsr-3177	200	32	four	four	NUM
fsr-3177	200	33	risk	risk	NOUN
fsr-3177	200	34	bands	band	NOUN
fsr-3177	200	35	.	.	PUNCT
fsr-3177	201	1	although	although	SCONJ
fsr-3177	201	2	applying	apply	VERB
fsr-3177	201	3	the	the	DET
fsr-3177	201	4	long	long	ADJ
fsr-3177	201	5	-	-	PUNCT
fsr-3177	201	6	term	term	NOUN
fsr-3177	201	7	indices	index	NOUN
fsr-3177	201	8	marginally	marginally	ADV
fsr-3177	201	9	improved	improve	VERB
fsr-3177	201	10	the	the	DET
fsr-3177	201	11	distribution	distribution	NOUN
fsr-3177	201	12	,	,	PUNCT
fsr-3177	201	13	all	all	DET
fsr-3177	201	14	portfolios	portfolio	NOUN
fsr-3177	201	15	were	be	AUX
fsr-3177	201	16	still	still	ADV
fsr-3177	201	17	clustered	cluster	VERB
fsr-3177	201	18	in	in	ADP
fsr-3177	201	19	4	4	NUM
fsr-3177	201	20	of	of	ADP
fsr-3177	201	21	the	the	DET
fsr-3177	201	22	7	7	NUM
fsr-3177	201	23	risk	risk	NOUN
fsr-3177	201	24	bands	band	NOUN
fsr-3177	201	25	.	.	PUNCT
fsr-3177	202	1	this	this	DET
fsr-3177	202	2	methodology	methodology	NOUN
fsr-3177	202	3	appears	appear	VERB
fsr-3177	202	4	to	to	PART
fsr-3177	202	5	be	be	AUX
fsr-3177	202	6	constructed	construct	VERB
fsr-3177	202	7	to	to	PART
fsr-3177	202	8	bucket	bucket	VERB
fsr-3177	202	9	the	the	DET
fsr-3177	202	10	universe	universe	NOUN
fsr-3177	202	11	of	of	ADP
fsr-3177	202	12	all	all	DET
fsr-3177	202	13	products	product	NOUN
fsr-3177	202	14	at	at	ADP
fsr-3177	202	15	extremes	extreme	NOUN
fsr-3177	202	16	of	of	ADP
fsr-3177	202	17	risk	risk	NOUN
fsr-3177	202	18	on	on	ADP
fsr-3177	202	19	both	both	DET
fsr-3177	202	20	ends	end	NOUN
fsr-3177	202	21	(	(	PUNCT
fsr-3177	202	22	lower	low	ADJ
fsr-3177	202	23	than	than	ADP
fsr-3177	202	24	cash	cash	NOUN
fsr-3177	202	25	and	and	CCONJ
fsr-3177	202	26	higher	high	ADJ
fsr-3177	202	27	than	than	ADP
fsr-3177	202	28	a	a	DET
fsr-3177	202	29	100	100	NUM
fsr-3177	202	30	%	%	NOUN
fsr-3177	202	31	equity	equity	NOUN
fsr-3177	202	32	aggressive	aggressive	ADJ
fsr-3177	202	33	portfolio	portfolio	NOUN
fsr-3177	202	34	)	)	PUNCT
fsr-3177	202	35	where	where	SCONJ
fsr-3177	202	36	the	the	DET
fsr-3177	202	37	products	product	NOUN
fsr-3177	202	38	in	in	ADP
fsr-3177	202	39	isolation	isolation	NOUN
fsr-3177	202	40	might	might	AUX
fsr-3177	202	41	make	make	VERB
fsr-3177	202	42	sense	sense	NOUN
fsr-3177	202	43	individually	individually	ADV
fsr-3177	202	44	for	for	ADP
fsr-3177	202	45	a	a	DET
fsr-3177	202	46	client	client	NOUN
fsr-3177	202	47	unless	unless	SCONJ
fsr-3177	202	48	part	part	NOUN
fsr-3177	202	49	of	of	ADP
fsr-3177	202	50	a	a	DET
fsr-3177	202	51	broader	broad	ADJ
fsr-3177	202	52	portfolio	portfolio	NOUN
fsr-3177	202	53	or	or	CCONJ
fsr-3177	202	54	investment	investment	NOUN
fsr-3177	202	55	strategy	strategy	NOUN
fsr-3177	202	56	.	.	PUNCT
fsr-3177	203	1	this	this	PRON
fsr-3177	203	2	would	would	AUX
fsr-3177	203	3	appear	appear	VERB
fsr-3177	203	4	to	to	PART
fsr-3177	203	5	indicate	indicate	VERB
fsr-3177	203	6	a	a	DET
fsr-3177	203	7	“	"	PUNCT
fsr-3177	203	8	risk	risk	NOUN
fsr-3177	203	9	profile	profile	NOUN
fsr-3177	203	10	test	test	NOUN
fsr-3177	203	11	”	"	PUNCT
fsr-3177	203	12	should	should	AUX
fsr-3177	203	13	be	be	AUX
fsr-3177	203	14	scaled	scale	VERB
fsr-3177	203	15	to	to	PART
fsr-3177	203	16	only	only	ADV
fsr-3177	203	17	map	map	VERB
fsr-3177	203	18	into	into	ADP
fsr-3177	203	19	the	the	DET
fsr-3177	203	20	middle	middle	ADJ
fsr-3177	203	21	4	4	NUM
fsr-3177	203	22	bands	band	NOUN
fsr-3177	203	23	.	.	PUNCT
fsr-3177	204	1	financial	financial	ADJ
fsr-3177	204	2	services	service	NOUN
fsr-3177	204	3	review	review	NOUN
fsr-3177	204	4	,	,	PUNCT
fsr-3177	204	5	31(4	31(4	NUM
fsr-3177	204	6	)	)	PUNCT
fsr-3177	204	7	262	262	NUM
fsr-3177	204	8	figure	figure	NOUN
fsr-3177	204	9	7	7	NUM
fsr-3177	204	10	.	.	NOUN
fsr-3177	204	11	six	six	NUM
fsr-3177	204	12	methodologies	methodology	NOUN
fsr-3177	204	13	mapping	mapping	NOUN
fsr-3177	204	14	into	into	ADP
fsr-3177	204	15	seven	seven	NUM
fsr-3177	204	16	risk	risk	NOUN
fsr-3177	204	17	-	-	PUNCT
fsr-3177	204	18	bands	band	NOUN
fsr-3177	204	19	the	the	DET
fsr-3177	204	20	riskcat	riskcat	ADJ
fsr-3177	204	21	methodology	methodology	NOUN
fsr-3177	204	22	(	(	PUNCT
fsr-3177	204	23	#	#	SYM
fsr-3177	204	24	4	4	NUM
fsr-3177	204	25	)	)	PUNCT
fsr-3177	204	26	was	be	AUX
fsr-3177	204	27	the	the	DET
fsr-3177	204	28	most	most	ADV
fsr-3177	204	29	removed	remove	VERB
fsr-3177	204	30	from	from	ADP
fsr-3177	204	31	the	the	DET
fsr-3177	204	32	consensus	consensus	NOUN
fsr-3177	204	33	for	for	ADP
fsr-3177	204	34	the	the	DET
fsr-3177	204	35	simple	simple	ADJ
fsr-3177	204	36	distribution	distribution	NOUN
fsr-3177	204	37	with	with	ADP
fsr-3177	204	38	3	3	NUM
fsr-3177	204	39	to	to	PART
fsr-3177	204	40	5	5	NUM
fsr-3177	204	41	portfolios	portfolio	NOUN
fsr-3177	204	42	mapped	map	VERB
fsr-3177	204	43	into	into	ADP
fsr-3177	204	44	risk	risk	NOUN
fsr-3177	204	45	band	band	NOUN
fsr-3177	204	46	2	2	NUM
fsr-3177	204	47	for	for	ADP
fsr-3177	204	48	all	all	DET
fsr-3177	204	49	countries	country	NOUN
fsr-3177	204	50	.	.	PUNCT
fsr-3177	205	1	as	as	SCONJ
fsr-3177	205	2	expected	expect	VERB
fsr-3177	205	3	,	,	PUNCT
fsr-3177	205	4	this	this	PRON
fsr-3177	205	5	was	be	AUX
fsr-3177	205	6	largely	largely	ADV
fsr-3177	205	7	caused	cause	VERB
fsr-3177	205	8	by	by	ADP
fsr-3177	205	9	the	the	DET
fsr-3177	205	10	scaling	scaling	NOUN
fsr-3177	205	11	of	of	ADP
fsr-3177	205	12	2.5x	2.5x	NUM
fsr-3177	205	13	equity	equity	NOUN
fsr-3177	205	14	markets	market	NOUN
fsr-3177	205	15	as	as	ADP
fsr-3177	205	16	the	the	DET
fsr-3177	205	17	high	high	ADJ
fsr-3177	205	18	point	point	NOUN
fsr-3177	205	19	of	of	ADP
fsr-3177	205	20	the	the	DET
fsr-3177	205	21	range	range	NOUN
fsr-3177	205	22	.	.	PUNCT
fsr-3177	206	1	when	when	SCONJ
fsr-3177	206	2	rescaled	rescaled	ADJ
fsr-3177	206	3	to	to	ADP
fsr-3177	206	4	1.25x	1.25x	NUM
fsr-3177	206	5	market	market	NOUN
fsr-3177	206	6	(	(	PUNCT
fsr-3177	206	7	i.e.	i.e.	X
fsr-3177	206	8	,	,	PUNCT
fsr-3177	206	9	a	a	DET
fsr-3177	206	10	riskcat	riskcat	ADJ
fsr-3177	206	11	score	score	NOUN
fsr-3177	206	12	of	of	ADP
fsr-3177	206	13	2	2	NUM
fsr-3177	206	14	was	be	AUX
fsr-3177	206	15	set	set	VERB
fsr-3177	206	16	to	to	ADP
fsr-3177	206	17	a	a	DET
fsr-3177	206	18	beta	beta	NOUN
fsr-3177	206	19	of	of	ADP
fsr-3177	206	20	1	1	NUM
fsr-3177	206	21	)	)	PUNCT
fsr-3177	206	22	,	,	PUNCT
fsr-3177	206	23	it	it	PRON
fsr-3177	206	24	was	be	AUX
fsr-3177	206	25	a	a	DET
fsr-3177	206	26	closer	close	ADJ
fsr-3177	206	27	mapping	mapping	NOUN
fsr-3177	206	28	to	to	ADP
fsr-3177	206	29	the	the	DET
fsr-3177	206	30	seven	seven	NUM
fsr-3177	206	31	evenly	evenly	ADV
fsr-3177	206	32	distributed	distribute	VERB
fsr-3177	206	33	bands	band	NOUN
fsr-3177	206	34	,	,	PUNCT
fsr-3177	206	35	but	but	CCONJ
fsr-3177	206	36	still	still	ADV
fsr-3177	206	37	was	be	AUX
fsr-3177	206	38	less	less	ADV
fsr-3177	206	39	adaptive	adaptive	ADJ
fsr-3177	206	40	on	on	ADP
fsr-3177	206	41	the	the	DET
fsr-3177	206	42	tails	tail	NOUN
fsr-3177	206	43	(	(	PUNCT
fsr-3177	206	44	risk	risk	NOUN
fsr-3177	206	45	bands	band	NOUN
fsr-3177	206	46	1	1	NUM
fsr-3177	206	47	and	and	CCONJ
fsr-3177	206	48	7	7	NUM
fsr-3177	206	49	)	)	PUNCT
fsr-3177	206	50	.	.	PUNCT
fsr-3177	207	1	the	the	DET
fsr-3177	207	2	challenge	challenge	NOUN
fsr-3177	207	3	appears	appear	VERB
fsr-3177	207	4	to	to	PART
fsr-3177	207	5	be	be	AUX
fsr-3177	207	6	a	a	DET
fsr-3177	207	7	simple	simple	ADJ
fsr-3177	207	8	linear	linear	NOUN
fsr-3177	207	9	mapping	mapping	NOUN
fsr-3177	207	10	is	be	AUX
fsr-3177	207	11	not	not	PART
fsr-3177	207	12	reflective	reflective	ADJ
fsr-3177	207	13	of	of	ADP
fsr-3177	207	14	the	the	DET
fsr-3177	207	15	non	non	ADJ
fsr-3177	207	16	-	-	ADJ
fsr-3177	207	17	linear	linear	ADJ
fsr-3177	207	18	shape	shape	NOUN
fsr-3177	207	19	of	of	ADP
fsr-3177	207	20	the	the	DET
fsr-3177	207	21	risk	risk	NOUN
fsr-3177	207	22	/	/	SYM
fsr-3177	207	23	return	return	NOUN
fsr-3177	207	24	curve	curve	NOUN
fsr-3177	207	25	where	where	SCONJ
fsr-3177	207	26	significant	significant	ADJ
fsr-3177	207	27	increase	increase	NOUN
fsr-3177	207	28	in	in	ADP
fsr-3177	207	29	return	return	NOUN
fsr-3177	207	30	on	on	ADP
fsr-3177	207	31	the	the	DET
fsr-3177	207	32	conservative	conservative	ADJ
fsr-3177	207	33	end	end	NOUN
fsr-3177	207	34	of	of	ADP
fsr-3177	207	35	the	the	DET
fsr-3177	207	36	spectrum	spectrum	NOUN
fsr-3177	207	37	can	can	AUX
fsr-3177	207	38	be	be	AUX
fsr-3177	207	39	achieved	achieve	VERB
fsr-3177	207	40	with	with	ADP
fsr-3177	207	41	relatively	relatively	ADV
fsr-3177	207	42	little	little	ADJ
fsr-3177	207	43	increase	increase	NOUN
fsr-3177	207	44	in	in	ADP
fsr-3177	207	45	risk	risk	NOUN
fsr-3177	207	46	whereas	whereas	SCONJ
fsr-3177	207	47	on	on	ADP
fsr-3177	207	48	the	the	DET
fsr-3177	207	49	risky	risky	ADJ
fsr-3177	207	50	investing	investing	NOUN
fsr-3177	207	51	extreme	extreme	NOUN
fsr-3177	207	52	the	the	DET
fsr-3177	207	53	same	same	ADJ
fsr-3177	207	54	increase	increase	NOUN
fsr-3177	207	55	in	in	ADP
fsr-3177	207	56	return	return	NOUN
fsr-3177	207	57	may	may	AUX
fsr-3177	207	58	require	require	VERB
fsr-3177	207	59	exposure	exposure	NOUN
fsr-3177	207	60	to	to	ADP
fsr-3177	207	61	much	much	ADV
fsr-3177	207	62	riskier	risky	ADJ
fsr-3177	207	63	asset	asset	NOUN
fsr-3177	207	64	classes	class	NOUN
fsr-3177	207	65	.	.	PUNCT
fsr-3177	208	1	we	we	PRON
fsr-3177	208	2	also	also	ADV
fsr-3177	208	3	compared	compare	VERB
fsr-3177	208	4	the	the	DET
fsr-3177	208	5	mapping	mapping	NOUN
fsr-3177	208	6	results	result	NOUN
fsr-3177	208	7	with	with	ADP
fsr-3177	208	8	a	a	DET
fsr-3177	208	9	simple	simple	ADJ
fsr-3177	208	10	mean	mean	NOUN
fsr-3177	208	11	and	and	CCONJ
fsr-3177	208	12	standard	standard	ADJ
fsr-3177	208	13	deviation	deviation	NOUN
fsr-3177	208	14	and	and	CCONJ
fsr-3177	208	15	a	a	DET
fsr-3177	208	16	correlation	correlation	NOUN
fsr-3177	208	17	analysis	analysis	NOUN
fsr-3177	208	18	between	between	ADP
fsr-3177	208	19	each	each	PRON
fsr-3177	208	20	of	of	ADP
fsr-3177	208	21	the	the	DET
fsr-3177	208	22	methodologies	methodology	NOUN
fsr-3177	208	23	(	(	PUNCT
fsr-3177	208	24	table	table	NOUN
fsr-3177	208	25	11	11	NUM
fsr-3177	208	26	)	)	PUNCT
fsr-3177	208	27	.	.	PUNCT
fsr-3177	209	1	it	it	PRON
fsr-3177	209	2	was	be	AUX
fsr-3177	209	3	determined	determine	VERB
fsr-3177	209	4	that	that	SCONJ
fsr-3177	209	5	there	there	PRON
fsr-3177	209	6	was	be	VERB
fsr-3177	209	7	an	an	DET
fsr-3177	209	8	average	average	ADJ
fsr-3177	209	9	standard	standard	ADJ
fsr-3177	209	10	deviation	deviation	NOUN
fsr-3177	209	11	of	of	ADP
fsr-3177	209	12	+	+	NOUN
fsr-3177	209	13	/1.1	/1.1	NOUN
fsr-3177	209	14	bands	band	NOUN
fsr-3177	209	15	between	between	ADP
fsr-3177	209	16	the	the	DET
fsr-3177	209	17	methodologies	methodology	NOUN
fsr-3177	209	18	,	,	PUNCT
fsr-3177	209	19	but	but	CCONJ
fsr-3177	209	20	it	it	PRON
fsr-3177	209	21	could	could	AUX
fsr-3177	209	22	be	be	AUX
fsr-3177	209	23	as	as	ADV
fsr-3177	209	24	high	high	ADJ
fsr-3177	209	25	as	as	ADP
fsr-3177	209	26	1.5	1.5	NUM
fsr-3177	209	27	bands	band	NOUN
fsr-3177	209	28	(	(	PUNCT
fsr-3177	209	29	e.g.	e.g.	ADV
fsr-3177	209	30	,	,	PUNCT
fsr-3177	209	31	the	the	DET
fsr-3177	209	32	u.s	u.s	PROPN
fsr-3177	209	33	.	.	PROPN
fsr-3177	209	34	market	market	NOUN
fsr-3177	209	35	)	)	PUNCT
fsr-3177	209	36	.	.	PUNCT
fsr-3177	210	1	if	if	SCONJ
fsr-3177	210	2	we	we	PRON
fsr-3177	210	3	remove	remove	VERB
fsr-3177	210	4	the	the	DET
fsr-3177	210	5	mifid	mifid	ADJ
fsr-3177	210	6	-	-	PUNCT
fsr-3177	210	7	ii	ii	NOUN
fsr-3177	210	8	5yr	5yr	NOUN
fsr-3177	210	9	and	and	CCONJ
fsr-3177	210	10	the	the	DET
fsr-3177	210	11	originally	originally	ADV
fsr-3177	210	12	2.5x	2.5x	NUM
fsr-3177	210	13	scaled	scale	VERB
fsr-3177	210	14	riskcat	riskcat	NOUN
fsr-3177	210	15	,	,	PUNCT
fsr-3177	210	16	the	the	DET
fsr-3177	210	17	equity	equity	NOUN
fsr-3177	210	18	exposure	exposure	NOUN
fsr-3177	210	19	,	,	PUNCT
fsr-3177	210	20	maximum	maximum	ADJ
fsr-3177	210	21	brayman	brayman	PROPN
fsr-3177	210	22	et	et	PROPN
fsr-3177	210	23	al	al	PROPN
fsr-3177	210	24	.	.	PROPN
fsr-3177	210	25	263	263	NUM
fsr-3177	210	26	expected	expect	VERB
fsr-3177	210	27	decline	decline	NOUN
fsr-3177	210	28	(	(	PUNCT
fsr-3177	210	29	var	var	NOUN
fsr-3177	210	30	)	)	PUNCT
fsr-3177	210	31	,	,	PUNCT
fsr-3177	210	32	mifid	mifid	ADJ
fsr-3177	210	33	-	-	PUNCT
fsr-3177	210	34	ii	ii	NOUN
fsr-3177	210	35	long	long	ADJ
fsr-3177	210	36	-	-	PUNCT
fsr-3177	210	37	term	term	NOUN
fsr-3177	210	38	and	and	CCONJ
fsr-3177	210	39	riskcat2	riskcat2	NOUN
fsr-3177	210	40	average	average	NOUN
fsr-3177	210	41	between	between	ADP
fsr-3177	210	42	0.95	0.95	NUM
fsr-3177	210	43	and	and	CCONJ
fsr-3177	210	44	0.97	0.97	NUM
fsr-3177	210	45	with	with	ADP
fsr-3177	210	46	the	the	DET
fsr-3177	210	47	other	other	ADJ
fsr-3177	210	48	3	3	NUM
fsr-3177	210	49	methodologies	methodology	NOUN
fsr-3177	210	50	and	and	CCONJ
fsr-3177	210	51	agree	agree	VERB
fsr-3177	210	52	on	on	ADP
fsr-3177	210	53	the	the	DET
fsr-3177	210	54	bands	band	NOUN
fsr-3177	210	55	+	+	ADP
fsr-3177	210	56	/0.8	/0.8	PUNCT
fsr-3177	210	57	risk	risk	NOUN
fsr-3177	210	58	bands	band	NOUN
fsr-3177	210	59	.	.	PUNCT
fsr-3177	211	1	table	table	NOUN
fsr-3177	211	2	11	11	NUM
fsr-3177	211	3	.	.	PUNCT
fsr-3177	212	1	correlation	correlation	NOUN
fsr-3177	212	2	between	between	ADP
fsr-3177	212	3	mapping	mapping	NOUN
fsr-3177	212	4	results	result	NOUN
fsr-3177	212	5	of	of	ADP
fsr-3177	212	6	methodologies	methodology	NOUN
fsr-3177	212	7	equity	equity	NOUN
fsr-3177	212	8	exposure	exposure	NOUN
fsr-3177	212	9	var	var	NOUN
fsr-3177	212	10	mifid	mifid	ADJ
fsr-3177	212	11	5yr	5yr	PROPN
fsr-3177	212	12	mifid	mifid	ADJ
fsr-3177	212	13	lt	lt	PRON
fsr-3177	212	14	riskcat	riskcat	ADJ
fsr-3177	212	15	riskcat2	riskcat2	PROPN
fsr-3177	212	16	avg	avg	PROPN
fsr-3177	212	17	corr	corr	PROPN
fsr-3177	212	18	1.00	1.00	NUM
fsr-3177	212	19	0.98	0.98	NUM
fsr-3177	212	20	0.84	0.84	NUM
fsr-3177	212	21	0.96	0.96	NUM
fsr-3177	212	22	0.81	0.81	NUM
fsr-3177	212	23	0.92	0.92	NUM
fsr-3177	212	24	equity	equity	NOUN
fsr-3177	212	25	exposure	exposure	NOUN
fsr-3177	212	26	0.92	0.92	NUM
fsr-3177	212	27	0.98	0.98	NUM
fsr-3177	212	28	1.00	1.00	NUM
fsr-3177	212	29	0.88	0.88	NUM
fsr-3177	212	30	0.96	0.96	NUM
fsr-3177	212	31	0.80	0.80	NUM
fsr-3177	212	32	0.94	0.94	NUM
fsr-3177	212	33	var	var	NOUN
fsr-3177	212	34	0.93	0.93	NUM
fsr-3177	212	35	0.84	0.84	NUM
fsr-3177	212	36	0.88	0.88	NUM
fsr-3177	212	37	1.00	1.00	NUM
fsr-3177	212	38	0.86	0.86	NUM
fsr-3177	212	39	0.65	0.65	NUM
fsr-3177	212	40	0.78	0.78	NUM
fsr-3177	212	41	mifid	mifid	ADJ
fsr-3177	212	42	5yr	5yr	PROPN
fsr-3177	212	43	0.83	0.83	NUM
fsr-3177	212	44	0.96	0.96	NUM
fsr-3177	212	45	0.96	0.96	NUM
fsr-3177	212	46	0.86	0.86	NUM
fsr-3177	212	47	1.00	1.00	NUM
fsr-3177	212	48	0.77	0.77	NUM
fsr-3177	212	49	0.94	0.94	NUM
fsr-3177	212	50	mifid	mifid	ADJ
fsr-3177	212	51	lt	lt	DET
fsr-3177	212	52	0.91	0.91	NUM
fsr-3177	212	53	0.81	0.81	NUM
fsr-3177	212	54	0.80	0.80	NUM
fsr-3177	212	55	0.65	0.65	NUM
fsr-3177	212	56	0.77	0.77	NUM
fsr-3177	212	57	1.00	1.00	NUM
fsr-3177	212	58	0.88	0.88	NUM
fsr-3177	212	59	riskcat	riskcat	NOUN
fsr-3177	212	60	0.82	0.82	NUM
fsr-3177	212	61	0.92	0.92	NUM
fsr-3177	212	62	0.94	0.94	NUM
fsr-3177	212	63	0.78	0.78	NUM
fsr-3177	212	64	0.94	0.94	NUM
fsr-3177	212	65	0.88	0.88	NUM
fsr-3177	212	66	1.00	1.00	NUM
fsr-3177	212	67	riskcat	riskcat	NOUN
fsr-3177	212	68	2	2	NUM
fsr-3177	212	69	0.91	0.91	NUM
fsr-3177	212	70	overall	overall	ADJ
fsr-3177	212	71	,	,	PUNCT
fsr-3177	212	72	the	the	DET
fsr-3177	212	73	results	result	NOUN
fsr-3177	212	74	from	from	ADP
fsr-3177	212	75	this	this	DET
fsr-3177	212	76	study	study	NOUN
fsr-3177	212	77	show	show	VERB
fsr-3177	212	78	a	a	DET
fsr-3177	212	79	strong	strong	ADJ
fsr-3177	212	80	correlation	correlation	NOUN
fsr-3177	212	81	in	in	ADP
fsr-3177	212	82	the	the	DET
fsr-3177	212	83	mapping	mapping	NOUN
fsr-3177	212	84	results	result	NOUN
fsr-3177	212	85	across	across	ADP
fsr-3177	212	86	all	all	DET
fsr-3177	212	87	countries	country	NOUN
fsr-3177	212	88	.	.	PUNCT
fsr-3177	213	1	furthermore	furthermore	ADV
fsr-3177	213	2	,	,	PUNCT
fsr-3177	213	3	all	all	DET
fsr-3177	213	4	methodologies	methodology	NOUN
fsr-3177	213	5	“	"	PUNCT
fsr-3177	213	6	scale	scale	VERB
fsr-3177	213	7	up	up	ADP
fsr-3177	213	8	”	"	PUNCT
fsr-3177	213	9	as	as	SCONJ
fsr-3177	213	10	the	the	DET
fsr-3177	213	11	portfolios	portfolio	NOUN
fsr-3177	213	12	become	become	VERB
fsr-3177	213	13	riskier	risky	ADJ
fsr-3177	213	14	.	.	PUNCT
fsr-3177	214	1	conclusions	conclusion	NOUN
fsr-3177	214	2	although	although	SCONJ
fsr-3177	214	3	use	use	NOUN
fsr-3177	214	4	of	of	ADP
fsr-3177	214	5	equity	equity	NOUN
fsr-3177	214	6	asset	asset	NOUN
fsr-3177	214	7	exposure	exposure	NOUN
fsr-3177	214	8	is	be	AUX
fsr-3177	214	9	an	an	DET
fsr-3177	214	10	interesting	interesting	ADJ
fsr-3177	214	11	heuristic	heuristic	NOUN
fsr-3177	214	12	,	,	PUNCT
fsr-3177	214	13	it	it	PRON
fsr-3177	214	14	may	may	AUX
fsr-3177	214	15	not	not	PART
fsr-3177	214	16	be	be	AUX
fsr-3177	214	17	appropriate	appropriate	ADJ
fsr-3177	214	18	as	as	ADP
fsr-3177	214	19	the	the	DET
fsr-3177	214	20	best	good	ADJ
fsr-3177	214	21	metric	metric	NOUN
fsr-3177	214	22	for	for	ADP
fsr-3177	214	23	determining	determine	VERB
fsr-3177	214	24	risk	risk	NOUN
fsr-3177	214	25	in	in	ADP
fsr-3177	214	26	nonefficient	nonefficient	ADJ
fsr-3177	214	27	portfolios	portfolio	NOUN
fsr-3177	214	28	.	.	PUNCT
fsr-3177	215	1	in	in	ADP
fsr-3177	215	2	most	most	ADJ
fsr-3177	215	3	countries	country	NOUN
fsr-3177	215	4	,	,	PUNCT
fsr-3177	215	5	there	there	PRON
fsr-3177	215	6	is	be	VERB
fsr-3177	215	7	between	between	ADP
fsr-3177	215	8	a	a	DET
fsr-3177	215	9	50	50	NUM
fsr-3177	215	10	%	%	NOUN
fsr-3177	215	11	and	and	CCONJ
fsr-3177	215	12	100	100	NUM
fsr-3177	215	13	%	%	NOUN
fsr-3177	215	14	difference	difference	NOUN
fsr-3177	215	15	in	in	ADP
fsr-3177	215	16	the	the	DET
fsr-3177	215	17	standard	standard	ADJ
fsr-3177	215	18	deviation	deviation	NOUN
fsr-3177	215	19	of	of	ADP
fsr-3177	215	20	primary	primary	ADJ
fsr-3177	215	21	equity	equity	NOUN
fsr-3177	215	22	asset	asset	NOUN
fsr-3177	215	23	classes	class	NOUN
fsr-3177	215	24	.	.	PUNCT
fsr-3177	216	1	using	use	VERB
fsr-3177	216	2	a	a	DET
fsr-3177	216	3	metric	metric	NOUN
fsr-3177	216	4	of	of	ADP
fsr-3177	216	5	total	total	ADJ
fsr-3177	216	6	growth	growth	NOUN
fsr-3177	216	7	assets	asset	NOUN
fsr-3177	216	8	does	do	AUX
fsr-3177	216	9	not	not	PART
fsr-3177	216	10	recognize	recognize	VERB
fsr-3177	216	11	this	this	PRON
fsr-3177	216	12	properly	properly	ADV
fsr-3177	216	13	.	.	PUNCT
fsr-3177	217	1	finametrica	finametrica	PROPN
fsr-3177	217	2	historically	historically	ADV
fsr-3177	217	3	was	be	AUX
fsr-3177	217	4	very	very	ADV
fsr-3177	217	5	clear	clear	ADJ
fsr-3177	217	6	to	to	PART
fsr-3177	217	7	provide	provide	VERB
fsr-3177	217	8	illustrative	illustrative	ADJ
fsr-3177	217	9	portfolios	portfolio	NOUN
fsr-3177	217	10	with	with	ADP
fsr-3177	217	11	comprehensive	comprehensive	ADJ
fsr-3177	217	12	“	"	PUNCT
fsr-3177	217	13	risk	risk	NOUN
fsr-3177	217	14	return	return	NOUN
fsr-3177	217	15	guides	guide	NOUN
fsr-3177	217	16	”	"	PUNCT
fsr-3177	217	17	for	for	ADP
fsr-3177	217	18	each	each	DET
fsr-3177	217	19	country	country	NOUN
fsr-3177	217	20	.	.	PUNCT
fsr-3177	218	1	they	they	PRON
fsr-3177	218	2	also	also	ADV
fsr-3177	218	3	stated	state	VERB
fsr-3177	218	4	that	that	SCONJ
fsr-3177	218	5	their	their	PRON
fsr-3177	218	6	methodology	methodology	NOUN
fsr-3177	218	7	can	can	AUX
fsr-3177	218	8	only	only	ADV
fsr-3177	218	9	be	be	AUX
fsr-3177	218	10	reasonably	reasonably	ADV
fsr-3177	218	11	applied	apply	VERB
fsr-3177	218	12	to	to	ADP
fsr-3177	218	13	diversified	diversify	VERB
fsr-3177	218	14	/	/	SYM
fsr-3177	218	15	well	well	ADV
fsr-3177	218	16	-	-	PUNCT
fsr-3177	218	17	constructed	construct	VERB
fsr-3177	218	18	portfolios	portfolio	NOUN
fsr-3177	218	19	.	.	PUNCT
fsr-3177	219	1	additionally	additionally	ADV
fsr-3177	219	2	,	,	PUNCT
fsr-3177	219	3	although	although	SCONJ
fsr-3177	219	4	alignment	alignment	NOUN
fsr-3177	219	5	with	with	ADP
fsr-3177	219	6	downside	downside	ADJ
fsr-3177	219	7	risk	risk	NOUN
fsr-3177	219	8	or	or	CCONJ
fsr-3177	219	9	var	var	NOUN
fsr-3177	219	10	appears	appear	VERB
fsr-3177	219	11	to	to	PART
fsr-3177	219	12	be	be	AUX
fsr-3177	219	13	the	the	DET
fsr-3177	219	14	best	good	ADJ
fsr-3177	219	15	approach	approach	NOUN
fsr-3177	219	16	,	,	PUNCT
fsr-3177	219	17	as	as	SCONJ
fsr-3177	219	18	outlined	outline	VERB
fsr-3177	219	19	in	in	ADP
fsr-3177	219	20	this	this	DET
fsr-3177	219	21	study	study	NOUN
fsr-3177	219	22	,	,	PUNCT
fsr-3177	219	23	basing	base	VERB
fsr-3177	219	24	it	it	PRON
fsr-3177	219	25	on	on	ADP
fsr-3177	219	26	a	a	DET
fsr-3177	219	27	simple	simple	ADJ
fsr-3177	219	28	five	five	NUM
fsr-3177	219	29	or	or	CCONJ
fsr-3177	219	30	10	10	NUM
fsr-3177	219	31	-	-	PUNCT
fsr-3177	219	32	year	year	NOUN
fsr-3177	219	33	standard	standard	ADJ
fsr-3177	219	34	deviation	deviation	NOUN
fsr-3177	219	35	can	can	AUX
fsr-3177	219	36	vastly	vastly	ADV
fsr-3177	219	37	understate	understate	VERB
fsr-3177	219	38	the	the	DET
fsr-3177	219	39	risk	risk	NOUN
fsr-3177	219	40	for	for	ADP
fsr-3177	219	41	an	an	DET
fsr-3177	219	42	investor	investor	NOUN
fsr-3177	219	43	when	when	SCONJ
fsr-3177	219	44	the	the	DET
fsr-3177	219	45	volatility	volatility	NOUN
fsr-3177	219	46	is	be	AUX
fsr-3177	219	47	low	low	ADJ
fsr-3177	219	48	for	for	ADP
fsr-3177	219	49	a	a	DET
fsr-3177	219	50	period	period	NOUN
fsr-3177	219	51	of	of	ADP
fsr-3177	219	52	time	time	NOUN
fsr-3177	219	53	.	.	PUNCT
fsr-3177	220	1	any	any	DET
fsr-3177	220	2	mapping	mapping	NOUN
fsr-3177	220	3	methodology	methodology	NOUN
fsr-3177	220	4	that	that	PRON
fsr-3177	220	5	relies	rely	VERB
fsr-3177	220	6	on	on	ADP
fsr-3177	220	7	a	a	DET
fsr-3177	220	8	measure	measure	NOUN
fsr-3177	220	9	of	of	ADP
fsr-3177	220	10	standard	standard	ADJ
fsr-3177	220	11	deviation	deviation	NOUN
fsr-3177	220	12	or	or	CCONJ
fsr-3177	220	13	var	var	NOUN
fsr-3177	220	14	needs	need	VERB
fsr-3177	220	15	to	to	PART
fsr-3177	220	16	be	be	AUX
fsr-3177	220	17	properly	properly	ADV
fsr-3177	220	18	calibrated	calibrate	VERB
fsr-3177	220	19	for	for	ADP
fsr-3177	220	20	each	each	DET
fsr-3177	220	21	market	market	NOUN
fsr-3177	220	22	.	.	PUNCT
fsr-3177	221	1	as	as	SCONJ
fsr-3177	221	2	illustrated	illustrate	VERB
fsr-3177	221	3	in	in	ADP
fsr-3177	221	4	this	this	DET
fsr-3177	221	5	study	study	NOUN
fsr-3177	221	6	,	,	PUNCT
fsr-3177	221	7	financial	financial	ADJ
fsr-3177	221	8	advisors	advisor	NOUN
fsr-3177	221	9	are	be	AUX
fsr-3177	221	10	likely	likely	ADJ
fsr-3177	221	11	to	to	PART
fsr-3177	221	12	see	see	VERB
fsr-3177	221	13	significant	significant	ADJ
fsr-3177	221	14	variation	variation	NOUN
fsr-3177	221	15	in	in	ADP
fsr-3177	221	16	the	the	DET
fsr-3177	221	17	overall	overall	ADJ
fsr-3177	221	18	volatility	volatility	NOUN
fsr-3177	221	19	of	of	ADP
fsr-3177	221	20	markets	market	NOUN
fsr-3177	221	21	,	,	PUNCT
fsr-3177	221	22	the	the	DET
fsr-3177	221	23	efficient	efficient	ADJ
fsr-3177	221	24	reliance	reliance	NOUN
fsr-3177	221	25	on	on	ADP
fsr-3177	221	26	equities	equity	NOUN
fsr-3177	221	27	to	to	PART
fsr-3177	221	28	reduce	reduce	VERB
fsr-3177	221	29	risk	risk	NOUN
fsr-3177	221	30	,	,	PUNCT
fsr-3177	221	31	and	and	CCONJ
fsr-3177	221	32	differences	difference	NOUN
fsr-3177	221	33	in	in	ADP
fsr-3177	221	34	the	the	DET
fsr-3177	221	35	risk	risk	NOUN
fsr-3177	221	36	/	/	SYM
fsr-3177	221	37	return	return	NOUN
fsr-3177	221	38	curve	curve	NOUN
fsr-3177	221	39	and	and	CCONJ
fsr-3177	221	40	market	market	NOUN
fsr-3177	221	41	efficiency	efficiency	NOUN
fsr-3177	221	42	in	in	ADP
fsr-3177	221	43	general	general	ADJ
fsr-3177	221	44	.	.	PUNCT
fsr-3177	222	1	it	it	PRON
fsr-3177	222	2	is	be	AUX
fsr-3177	222	3	also	also	ADV
fsr-3177	222	4	worth	worth	ADJ
fsr-3177	222	5	noting	note	VERB
fsr-3177	222	6	that	that	SCONJ
fsr-3177	222	7	using	use	VERB
fsr-3177	222	8	a	a	DET
fsr-3177	222	9	linear	linear	ADJ
fsr-3177	222	10	mapping	mapping	NOUN
fsr-3177	222	11	is	be	AUX
fsr-3177	222	12	problematic	problematic	ADJ
fsr-3177	222	13	where	where	SCONJ
fsr-3177	222	14	the	the	DET
fsr-3177	222	15	risk	risk	NOUN
fsr-3177	222	16	/	/	SYM
fsr-3177	222	17	return	return	NOUN
fsr-3177	222	18	curve	curve	NOUN
fsr-3177	222	19	is	be	AUX
fsr-3177	222	20	far	far	ADV
fsr-3177	222	21	from	from	ADP
fsr-3177	222	22	linear	linear	ADJ
fsr-3177	222	23	and	and	CCONJ
fsr-3177	222	24	significant	significant	ADJ
fsr-3177	222	25	returns	return	NOUN
fsr-3177	222	26	on	on	ADP
fsr-3177	222	27	the	the	DET
fsr-3177	222	28	low	low	ADJ
fsr-3177	222	29	end	end	NOUN
fsr-3177	222	30	might	might	AUX
fsr-3177	222	31	be	be	AUX
fsr-3177	222	32	achieved	achieve	VERB
fsr-3177	222	33	with	with	ADP
fsr-3177	222	34	little	little	ADJ
fsr-3177	222	35	incremental	incremental	ADJ
fsr-3177	222	36	risk	risk	NOUN
fsr-3177	222	37	compared	compare	VERB
fsr-3177	222	38	to	to	ADP
fsr-3177	222	39	the	the	DET
fsr-3177	222	40	increased	increase	VERB
fsr-3177	222	41	risk	risk	NOUN
fsr-3177	222	42	on	on	ADP
fsr-3177	222	43	the	the	DET
fsr-3177	222	44	high	high	ADJ
fsr-3177	222	45	end	end	NOUN
fsr-3177	222	46	for	for	ADP
fsr-3177	222	47	smaller	small	ADJ
fsr-3177	222	48	returns	return	NOUN
fsr-3177	222	49	.	.	PUNCT
fsr-3177	223	1	we	we	PRON
fsr-3177	223	2	considered	consider	VERB
fsr-3177	223	3	taking	take	VERB
fsr-3177	223	4	the	the	DET
fsr-3177	223	5	average	average	NOUN
fsr-3177	223	6	of	of	ADP
fsr-3177	223	7	all	all	DET
fsr-3177	223	8	six	six	NUM
fsr-3177	223	9	methodologies	methodology	NOUN
fsr-3177	223	10	as	as	ADP
fsr-3177	223	11	“	"	PUNCT
fsr-3177	223	12	better	well	ADJ
fsr-3177	223	13	consensus	consensus	NOUN
fsr-3177	223	14	mapping	mapping	NOUN
fsr-3177	223	15	”	"	PUNCT
fsr-3177	223	16	but	but	CCONJ
fsr-3177	223	17	the	the	DET
fsr-3177	223	18	traditional	traditional	ADJ
fsr-3177	223	19	riskcat	riskcat	NOUN
fsr-3177	223	20	variances	variance	NOUN
fsr-3177	223	21	skewed	skew	VERB
fsr-3177	223	22	the	the	DET
fsr-3177	223	23	results	result	NOUN
fsr-3177	223	24	.	.	PUNCT
fsr-3177	224	1	we	we	PRON
fsr-3177	224	2	might	might	AUX
fsr-3177	224	3	consider	consider	VERB
fsr-3177	224	4	this	this	PRON
fsr-3177	224	5	in	in	ADP
fsr-3177	224	6	the	the	DET
fsr-3177	224	7	future	future	NOUN
fsr-3177	224	8	removing	remove	VERB
fsr-3177	224	9	this	this	DET
fsr-3177	224	10	model	model	NOUN
fsr-3177	224	11	from	from	ADP
fsr-3177	224	12	the	the	DET
fsr-3177	224	13	analysis	analysis	NOUN
fsr-3177	224	14	.	.	PUNCT
fsr-3177	225	1	many	many	ADJ
fsr-3177	225	2	compliance	compliance	NOUN
fsr-3177	225	3	departments	department	NOUN
fsr-3177	225	4	and	and	CCONJ
fsr-3177	225	5	regulators	regulator	NOUN
fsr-3177	225	6	are	be	AUX
fsr-3177	225	7	looking	look	VERB
fsr-3177	225	8	for	for	ADP
fsr-3177	225	9	simple	simple	ADJ
fsr-3177	225	10	definitions	definition	NOUN
fsr-3177	225	11	and	and	CCONJ
fsr-3177	225	12	easy	easy	ADJ
fsr-3177	225	13	to	to	PART
fsr-3177	225	14	explain	explain	VERB
fsr-3177	225	15	systems	system	NOUN
fsr-3177	225	16	to	to	PART
fsr-3177	225	17	determine	determine	VERB
fsr-3177	225	18	suitability	suitability	NOUN
fsr-3177	225	19	–	–	PUNCT
fsr-3177	225	20	put	put	VERB
fsr-3177	225	21	a	a	DET
fsr-3177	225	22	risk	risk	NOUN
fsr-3177	225	23	rating	rating	NOUN
fsr-3177	225	24	on	on	ADP
fsr-3177	225	25	every	every	DET
fsr-3177	225	26	product	product	NOUN
fsr-3177	225	27	,	,	PUNCT
fsr-3177	225	28	rate	rate	VERB
fsr-3177	225	29	the	the	DET
fsr-3177	225	30	risk	risk	NOUN
fsr-3177	225	31	level	level	NOUN
fsr-3177	225	32	suitable	suitable	ADJ
fsr-3177	225	33	to	to	ADP
fsr-3177	225	34	an	an	DET
fsr-3177	225	35	investor	investor	NOUN
fsr-3177	225	36	and	and	CCONJ
fsr-3177	225	37	ensure	ensure	VERB
fsr-3177	225	38	that	that	SCONJ
fsr-3177	225	39	everything	everything	PRON
fsr-3177	225	40	the	the	DET
fsr-3177	225	41	investor	investor	NOUN
fsr-3177	225	42	owns	own	VERB
fsr-3177	225	43	is	be	AUX
fsr-3177	225	44	at	at	ADP
fsr-3177	225	45	or	or	CCONJ
fsr-3177	225	46	below	below	ADP
fsr-3177	225	47	the	the	DET
fsr-3177	225	48	approved	approve	VERB
fsr-3177	225	49	risk	risk	NOUN
fsr-3177	225	50	level	level	NOUN
fsr-3177	225	51	.	.	PUNCT
fsr-3177	226	1	simplistic	simplistic	ADJ
fsr-3177	226	2	solutions	solution	NOUN
fsr-3177	226	3	,	,	PUNCT
fsr-3177	226	4	although	although	SCONJ
fsr-3177	226	5	easier	easy	ADJ
fsr-3177	226	6	to	to	PART
fsr-3177	226	7	manage	manage	VERB
fsr-3177	226	8	,	,	PUNCT
fsr-3177	226	9	do	do	AUX
fsr-3177	226	10	not	not	PART
fsr-3177	226	11	reflect	reflect	VERB
fsr-3177	226	12	that	that	SCONJ
fsr-3177	226	13	people	people	NOUN
fsr-3177	226	14	and	and	CCONJ
fsr-3177	226	15	products	product	NOUN
fsr-3177	226	16	are	be	AUX
fsr-3177	226	17	not	not	PART
fsr-3177	226	18	the	the	DET
fsr-3177	226	19	same	same	ADJ
fsr-3177	226	20	and	and	CCONJ
fsr-3177	226	21	product	product	NOUN
fsr-3177	226	22	manufacturers	manufacturer	NOUN
fsr-3177	226	23	can	can	AUX
fsr-3177	226	24	invent	invent	VERB
fsr-3177	226	25	investment	investment	NOUN
fsr-3177	226	26	products	product	NOUN
fsr-3177	226	27	that	that	PRON
fsr-3177	226	28	in	in	ADP
fsr-3177	226	29	isolation	isolation	NOUN
fsr-3177	226	30	could	could	AUX
fsr-3177	226	31	be	be	AUX
fsr-3177	226	32	unsuitable	unsuitable	ADJ
fsr-3177	226	33	for	for	ADP
fsr-3177	226	34	any	any	DET
fsr-3177	226	35	client	client	NOUN
fsr-3177	226	36	,	,	PUNCT
fsr-3177	226	37	but	but	CCONJ
fsr-3177	226	38	in	in	ADP
fsr-3177	226	39	combination	combination	NOUN
fsr-3177	226	40	with	with	ADP
fsr-3177	226	41	other	other	ADJ
fsr-3177	226	42	solutions	solution	NOUN
fsr-3177	226	43	may	may	AUX
fsr-3177	226	44	form	form	VERB
fsr-3177	226	45	a	a	DET
fsr-3177	226	46	portfolio	portfolio	NOUN
fsr-3177	226	47	that	that	PRON
fsr-3177	226	48	is	be	AUX
fsr-3177	226	49	optimal	optimal	ADJ
fsr-3177	226	50	for	for	ADP
fsr-3177	226	51	a	a	DET
fsr-3177	226	52	client	client	NOUN
fsr-3177	226	53	.	.	PUNCT
fsr-3177	227	1	simplistic	simplistic	ADJ
fsr-3177	227	2	use	use	NOUN
fsr-3177	227	3	of	of	ADP
fsr-3177	227	4	a	a	DET
fsr-3177	227	5	single	single	ADJ
fsr-3177	227	6	timeframe	timeframe	NOUN
fsr-3177	227	7	,	,	PUNCT
fsr-3177	227	8	whether	whether	SCONJ
fsr-3177	227	9	short	short	ADJ
fsr-3177	227	10	,	,	PUNCT
fsr-3177	227	11	medium	medium	ADJ
fsr-3177	227	12	or	or	CCONJ
fsr-3177	227	13	long	long	ADJ
fsr-3177	227	14	term	term	NOUN
fsr-3177	227	15	can	can	AUX
fsr-3177	227	16	reflect	reflect	VERB
fsr-3177	227	17	one	one	NUM
fsr-3177	227	18	aspect	aspect	NOUN
fsr-3177	227	19	of	of	ADP
fsr-3177	227	20	the	the	DET
fsr-3177	227	21	product	product	NOUN
fsr-3177	227	22	or	or	CCONJ
fsr-3177	227	23	portfolio	portfolio	NOUN
fsr-3177	227	24	risk	risk	NOUN
fsr-3177	227	25	but	but	CCONJ
fsr-3177	227	26	obscure	obscure	ADJ
fsr-3177	227	27	other	other	ADJ
fsr-3177	227	28	aspects	aspect	NOUN
fsr-3177	227	29	.	.	PUNCT
fsr-3177	228	1	longer	long	ADJ
fsr-3177	228	2	time	time	NOUN
fsr-3177	228	3	horizons	horizon	NOUN
fsr-3177	228	4	can	can	AUX
fsr-3177	228	5	make	make	VERB
fsr-3177	228	6	downturns	downturn	NOUN
fsr-3177	228	7	like	like	ADP
fsr-3177	228	8	experienced	experience	VERB
fsr-3177	228	9	in	in	ADP
fsr-3177	228	10	2020	2020	NUM
fsr-3177	228	11	with	with	ADP
fsr-3177	228	12	covid	covid	PROPN
fsr-3177	228	13	“	"	PUNCT
fsr-3177	228	14	disappear	disappear	VERB
fsr-3177	228	15	”	"	PUNCT
fsr-3177	228	16	,	,	PUNCT
fsr-3177	228	17	whereas	whereas	SCONJ
fsr-3177	228	18	short	short	ADJ
fsr-3177	228	19	financial	financial	ADJ
fsr-3177	228	20	services	service	NOUN
fsr-3177	228	21	review	review	NOUN
fsr-3177	228	22	,	,	PUNCT
fsr-3177	228	23	31(4	31(4	NUM
fsr-3177	228	24	)	)	PUNCT
fsr-3177	228	25	264	264	NUM
fsr-3177	228	26	timeframe	timeframe	NOUN
fsr-3177	228	27	can	can	AUX
fsr-3177	228	28	significantly	significantly	ADV
fsr-3177	228	29	understate	understate	VERB
fsr-3177	228	30	risk	risk	NOUN
fsr-3177	228	31	in	in	ADP
fsr-3177	228	32	quiet	quiet	ADJ
fsr-3177	228	33	periods	period	NOUN
fsr-3177	228	34	.	.	PUNCT
fsr-3177	229	1	implications	implication	NOUN
fsr-3177	229	2	evolving	evolve	VERB
fsr-3177	229	3	compliance	compliance	NOUN
fsr-3177	229	4	solutions	solution	NOUN
fsr-3177	229	5	is	be	AUX
fsr-3177	229	6	challenging	challenge	VERB
fsr-3177	229	7	and	and	CCONJ
fsr-3177	229	8	often	often	ADV
fsr-3177	229	9	only	only	ADV
fsr-3177	229	10	occurs	occur	VERB
fsr-3177	229	11	when	when	SCONJ
fsr-3177	229	12	something	something	PRON
fsr-3177	229	13	is	be	AUX
fsr-3177	229	14	considered	consider	VERB
fsr-3177	229	15	“	"	PUNCT
fsr-3177	229	16	broken	break	VERB
fsr-3177	229	17	”	"	PUNCT
fsr-3177	229	18	by	by	ADP
fsr-3177	229	19	complaints	complaint	NOUN
fsr-3177	229	20	.	.	PUNCT
fsr-3177	230	1	none	none	NOUN
fsr-3177	230	2	-	-	PUNCT
fsr-3177	230	3	the	the	ADV
fsr-3177	230	4	-	-	PUNCT
fsr-3177	230	5	less	less	ADJ
fsr-3177	230	6	there	there	PRON
fsr-3177	230	7	are	be	VERB
fsr-3177	230	8	some	some	DET
fsr-3177	230	9	considerations	consideration	NOUN
fsr-3177	230	10	financial	financial	ADJ
fsr-3177	230	11	planners	planner	NOUN
fsr-3177	230	12	should	should	AUX
fsr-3177	230	13	consider	consider	VERB
fsr-3177	230	14	to	to	PART
fsr-3177	230	15	ensure	ensure	VERB
fsr-3177	230	16	best	good	ADJ
fsr-3177	230	17	practices	practice	NOUN
fsr-3177	230	18	for	for	ADP
fsr-3177	230	19	clients	client	NOUN
fsr-3177	230	20	:	:	PUNCT
fsr-3177	230	21	there	there	PRON
fsr-3177	230	22	is	be	VERB
fsr-3177	230	23	merit	merit	NOUN
fsr-3177	230	24	in	in	ADP
fsr-3177	230	25	having	have	VERB
fsr-3177	230	26	a	a	DET
fsr-3177	230	27	different	different	ADJ
fsr-3177	230	28	scale	scale	NOUN
fsr-3177	230	29	for	for	ADP
fsr-3177	230	30	product	product	NOUN
fsr-3177	230	31	risk	risk	NOUN
fsr-3177	230	32	than	than	SCONJ
fsr-3177	230	33	people	people	NOUN
fsr-3177	230	34	risk	risk	VERB
fsr-3177	230	35	so	so	SCONJ
fsr-3177	230	36	that	that	SCONJ
fsr-3177	230	37	solutions	solution	VERB
fsr-3177	230	38	that	that	SCONJ
fsr-3177	230	39	in	in	ADP
fsr-3177	230	40	isolation	isolation	NOUN
fsr-3177	230	41	are	be	AUX
fsr-3177	230	42	outside	outside	ADP
fsr-3177	230	43	what	what	PRON
fsr-3177	230	44	would	would	AUX
fsr-3177	230	45	be	be	AUX
fsr-3177	230	46	considered	consider	VERB
fsr-3177	230	47	suitable	suitable	ADJ
fsr-3177	230	48	bands	band	NOUN
fsr-3177	230	49	are	be	AUX
fsr-3177	230	50	differentiated	differentiate	VERB
fsr-3177	230	51	.	.	PUNCT
fsr-3177	231	1	implying	imply	VERB
fsr-3177	231	2	that	that	SCONJ
fsr-3177	231	3	every	every	DET
fsr-3177	231	4	product	product	NOUN
fsr-3177	231	5	regardless	regardless	ADV
fsr-3177	231	6	of	of	ADP
fsr-3177	231	7	risk	risk	NOUN
fsr-3177	231	8	is	be	AUX
fsr-3177	231	9	suitable	suitable	ADJ
fsr-3177	231	10	for	for	ADP
fsr-3177	231	11	a	a	DET
fsr-3177	231	12	very	very	ADV
fsr-3177	231	13	high	high	ADJ
fsr-3177	231	14	risk	risk	NOUN
fsr-3177	231	15	-	-	PUNCT
fsr-3177	231	16	taking	take	VERB
fsr-3177	231	17	investors	investor	NOUN
fsr-3177	231	18	and	and	CCONJ
fsr-3177	231	19	only	only	ADV
fsr-3177	231	20	those	those	DET
fsr-3177	231	21	investors	investor	NOUN
fsr-3177	231	22	is	be	AUX
fsr-3177	231	23	too	too	ADV
fsr-3177	231	24	simplistic	simplistic	ADJ
fsr-3177	231	25	.	.	PUNCT
fsr-3177	232	1	ensure	ensure	VERB
fsr-3177	232	2	that	that	SCONJ
fsr-3177	232	3	the	the	DET
fsr-3177	232	4	mapping	mapping	NOUN
fsr-3177	232	5	methodology	methodology	NOUN
fsr-3177	232	6	utilized	utilize	VERB
fsr-3177	232	7	is	be	AUX
fsr-3177	232	8	designed	design	VERB
fsr-3177	232	9	to	to	PART
fsr-3177	232	10	map	map	VERB
fsr-3177	232	11	into	into	ADP
fsr-3177	232	12	the	the	DET
fsr-3177	232	13	holistic	holistic	ADJ
fsr-3177	232	14	position	position	NOUN
fsr-3177	232	15	of	of	ADP
fsr-3177	232	16	the	the	DET
fsr-3177	232	17	investor	investor	NOUN
fsr-3177	232	18	.	.	PUNCT
fsr-3177	233	1	using	use	VERB
fsr-3177	233	2	the	the	DET
fsr-3177	233	3	mifid	mifid	ADJ
fsr-3177	233	4	-	-	PUNCT
fsr-3177	233	5	ii	ii	NOUN
fsr-3177	233	6	model	model	NOUN
fsr-3177	233	7	as	as	ADP
fsr-3177	233	8	an	an	DET
fsr-3177	233	9	example	example	NOUN
fsr-3177	233	10	,	,	PUNCT
fsr-3177	233	11	it	it	PRON
fsr-3177	233	12	appears	appear	VERB
fsr-3177	233	13	clients	client	NOUN
fsr-3177	233	14	should	should	AUX
fsr-3177	233	15	be	be	AUX
fsr-3177	233	16	mapped	map	VERB
fsr-3177	233	17	into	into	ADP
fsr-3177	233	18	the	the	DET
fsr-3177	233	19	middle	middle	ADJ
fsr-3177	233	20	four	four	NUM
fsr-3177	233	21	bands	band	NOUN
fsr-3177	233	22	–	–	PUNCT
fsr-3177	233	23	not	not	PART
fsr-3177	233	24	all	all	DET
fsr-3177	233	25	seven	seven	NUM
fsr-3177	233	26	product	product	NOUN
fsr-3177	233	27	risk	risk	NOUN
fsr-3177	233	28	bands	band	NOUN
fsr-3177	233	29	.	.	PUNCT
fsr-3177	234	1	consider	consider	VERB
fsr-3177	234	2	multiple	multiple	ADJ
fsr-3177	234	3	timeframes	timeframe	NOUN
fsr-3177	234	4	for	for	ADP
fsr-3177	234	5	measuring	measure	VERB
fsr-3177	234	6	risk	risk	NOUN
fsr-3177	234	7	of	of	ADP
fsr-3177	234	8	products	product	NOUN
fsr-3177	234	9	,	,	PUNCT
fsr-3177	234	10	a	a	DET
fsr-3177	234	11	long	long	ADJ
fsr-3177	234	12	-	-	PUNCT
fsr-3177	234	13	term	term	NOUN
fsr-3177	234	14	horizon	horizon	NOUN
fsr-3177	234	15	to	to	PART
fsr-3177	234	16	capture	capture	VERB
fsr-3177	234	17	risk	risk	NOUN
fsr-3177	234	18	on	on	ADP
fsr-3177	234	19	the	the	DET
fsr-3177	234	20	same	same	ADJ
fsr-3177	234	21	timescale	timescale	NOUN
fsr-3177	234	22	as	as	ADP
fsr-3177	234	23	the	the	DET
fsr-3177	234	24	financial	financial	ADJ
fsr-3177	234	25	plan	plan	NOUN
fsr-3177	234	26	,	,	PUNCT
fsr-3177	234	27	the	the	DET
fsr-3177	234	28	short	short	ADJ
fsr-3177	234	29	-	-	PUNCT
fsr-3177	234	30	term	term	NOUN
fsr-3177	234	31	risk	risk	NOUN
fsr-3177	234	32	as	as	ADP
fsr-3177	234	33	usually	usually	ADV
fsr-3177	234	34	defined	define	VERB
fsr-3177	234	35	by	by	ADP
fsr-3177	234	36	regulators	regulator	NOUN
fsr-3177	234	37	,	,	PUNCT
fsr-3177	234	38	and	and	CCONJ
fsr-3177	234	39	the	the	DET
fsr-3177	234	40	highest	high	ADJ
fsr-3177	234	41	-	-	PUNCT
fsr-3177	234	42	risk	risk	NOUN
fsr-3177	234	43	,	,	PUNCT
fsr-3177	234	44	short	short	ADJ
fsr-3177	234	45	-	-	PUNCT
fsr-3177	234	46	term	term	NOUN
fsr-3177	234	47	experience	experience	NOUN
fsr-3177	234	48	,	,	PUNCT
fsr-3177	234	49	over	over	ADP
fsr-3177	234	50	the	the	DET
fsr-3177	234	51	longer	long	ADJ
fsr-3177	234	52	history	history	NOUN
fsr-3177	234	53	of	of	ADP
fsr-3177	234	54	the	the	DET
fsr-3177	234	55	product	product	NOUN
fsr-3177	234	56	.	.	PUNCT
fsr-3177	235	1	if	if	SCONJ
fsr-3177	235	2	the	the	DET
fsr-3177	235	3	objective	objective	NOUN
fsr-3177	235	4	is	be	AUX
fsr-3177	235	5	to	to	PART
fsr-3177	235	6	ensure	ensure	VERB
fsr-3177	235	7	clients	client	NOUN
fsr-3177	235	8	are	be	AUX
fsr-3177	235	9	not	not	PART
fsr-3177	235	10	taken	take	VERB
fsr-3177	235	11	by	by	ADP
fsr-3177	235	12	surprise	surprise	NOUN
fsr-3177	235	13	,	,	PUNCT
fsr-3177	235	14	ensure	ensure	VERB
fsr-3177	235	15	the	the	DET
fsr-3177	235	16	measure	measure	NOUN
fsr-3177	235	17	of	of	ADP
fsr-3177	235	18	risk	risk	NOUN
fsr-3177	235	19	being	be	AUX
fsr-3177	235	20	used	use	VERB
fsr-3177	235	21	is	be	AUX
fsr-3177	235	22	not	not	PART
fsr-3177	235	23	losing	lose	VERB
fsr-3177	235	24	this	this	DET
fsr-3177	235	25	perspective	perspective	NOUN
fsr-3177	235	26	.	.	PUNCT
fsr-3177	236	1	references	reference	NOUN
fsr-3177	236	2	brayman	brayman	PROPN
fsr-3177	236	3	,	,	PUNCT
fsr-3177	236	4	s.	s.	PROPN
fsr-3177	236	5	,	,	PUNCT
fsr-3177	236	6	finke	finke	PROPN
fsr-3177	236	7	,	,	PUNCT
fsr-3177	236	8	m.	m.	NOUN
fsr-3177	236	9	,	,	PUNCT
fsr-3177	236	10	bessner	bessner	NOUN
fsr-3177	236	11	,	,	PUNCT
fsr-3177	236	12	e.	e.	PROPN
fsr-3177	236	13	,	,	PUNCT
fsr-3177	236	14	grable	grable	PROPN
fsr-3177	236	15	,	,	PUNCT
fsr-3177	236	16	j.	j.	PROPN
fsr-3177	236	17	,	,	PUNCT
fsr-3177	236	18	griffin	griffin	PROPN
fsr-3177	236	19	,	,	PUNCT
fsr-3177	236	20	p.	p.	PROPN
fsr-3177	236	21	,	,	PUNCT
fsr-3177	236	22	&	&	CCONJ
fsr-3177	236	23	clement	clement	PROPN
fsr-3177	236	24	,	,	PUNCT
fsr-3177	236	25	r.	r.	PROPN
fsr-3177	236	26	(	(	PUNCT
fsr-3177	236	27	2015	2015	NUM
fsr-3177	236	28	)	)	PUNCT
fsr-3177	236	29	.	.	PUNCT
fsr-3177	237	1	current	current	ADJ
fsr-3177	237	2	practices	practice	NOUN
fsr-3177	237	3	for	for	ADP
fsr-3177	237	4	risk	risk	NOUN
fsr-3177	237	5	profiling	profiling	NOUN
fsr-3177	237	6	in	in	ADP
fsr-3177	237	7	canada	canada	PROPN
fsr-3177	237	8	and	and	CCONJ
fsr-3177	237	9	review	review	NOUN
fsr-3177	237	10	of	of	ADP
fsr-3177	237	11	global	global	ADJ
fsr-3177	237	12	best	good	ADJ
fsr-3177	237	13	practices	practice	NOUN
fsr-3177	237	14	.	.	PUNCT
fsr-3177	238	1	investor	investor	NOUN
fsr-3177	238	2	advisory	advisory	ADJ
fsr-3177	238	3	panel	panel	NOUN
fsr-3177	238	4	of	of	ADP
fsr-3177	238	5	the	the	DET
fsr-3177	238	6	ontario	ontario	PROPN
fsr-3177	238	7	securities	securities	PROPN
fsr-3177	238	8	commission	commission	PROPN
fsr-3177	238	9	.	.	PUNCT
fsr-3177	239	1	https://www.osc.ca/sites/default/files/20	https://www.osc.ca/sites/default/files/20	PROPN
fsr-3177	239	2	21	21	NUM
fsr-3177	239	3	-	-	PUNCT
fsr-3177	239	4	02	02	NUM
fsr-3177	239	5	/	/	SYM
fsr-3177	239	6	iap_20151112_risk	iap_20151112_risk	NOUN
fsr-3177	239	7	-	-	PUNCT
fsr-3177	239	8	profilingreport.pdf	profilingreport.pdf	NOUN
fsr-3177	239	9	davey	davey	NOUN
fsr-3177	239	10	,	,	PUNCT
fsr-3177	239	11	g.	g.	PROPN
fsr-3177	239	12	(	(	PUNCT
fsr-3177	239	13	2015	2015	NUM
fsr-3177	239	14	,	,	PUNCT
fsr-3177	239	15	march	march	PROPN
fsr-3177	239	16	/	/	SYM
fsr-3177	239	17	april	april	PROPN
fsr-3177	239	18	)	)	PUNCT
fsr-3177	239	19	.	.	PUNCT
fsr-3177	240	1	getting	get	VERB
fsr-3177	240	2	risk	risk	NOUN
fsr-3177	240	3	right	right	NOUN
fsr-3177	240	4	.	.	PUNCT
fsr-3177	241	1	investment	investment	NOUN
fsr-3177	241	2	management	management	NOUN
fsr-3177	241	3	consultant	consultant	PROPN
fsr-3177	241	4	association	association	PROPN
fsr-3177	241	5	inc	inc	PROPN
fsr-3177	241	6	.	.	PROPN
fsr-3177	241	7	,	,	PUNCT
fsr-3177	241	8	33	33	NUM
fsr-3177	241	9	-	-	SYM
fsr-3177	241	10	39	39	NUM
fsr-3177	241	11	.	.	PUNCT
fsr-3177	242	1	https://investmentsandwealth.org/getatta	https://investmentsandwealth.org/getatta	X
fsr-3177	243	1	chment/010bd2bb-7911	chment/010bd2bb-7911	NOUN
fsr-3177	243	2	-	-	PUNCT
fsr-3177	243	3	4870	4870	NUM
fsr-3177	243	4	-	-	PUNCT
fsr-3177	243	5	92b12ba48b1a8aa9	92b12ba48b1a8aa9	NUM
fsr-3177	243	6	/	/	SYM
fsr-3177	243	7	iwm15marapr	iwm15marapr	NOUN
fsr-3177	243	8	-	-	PUNCT
fsr-3177	243	9	get	get	VERB
fsr-3177	243	10	tingriskright.pdf	tingriskright.pdf	NOUN
fsr-3177	243	11	droms	drom	NOUN
fsr-3177	243	12	,	,	PUNCT
fsr-3177	243	13	w.	w.	PROPN
fsr-3177	243	14	g.	g.	PROPN
fsr-3177	243	15	,	,	PUNCT
fsr-3177	243	16	&	&	CCONJ
fsr-3177	243	17	strauss	strauss	PROPN
fsr-3177	243	18	,	,	PUNCT
fsr-3177	243	19	s.	s.	PROPN
fsr-3177	243	20	n.	n.	PROPN
fsr-3177	243	21	(	(	PUNCT
fsr-3177	243	22	2003	2003	NUM
fsr-3177	243	23	)	)	PUNCT
fsr-3177	243	24	.	.	PUNCT
fsr-3177	244	1	assessing	assess	VERB
fsr-3177	244	2	risk	risk	NOUN
fsr-3177	244	3	tolerance	tolerance	NOUN
fsr-3177	244	4	for	for	ADP
fsr-3177	244	5	asset	asset	NOUN
fsr-3177	244	6	allocation	allocation	NOUN
fsr-3177	244	7	.	.	PUNCT
fsr-3177	245	1	journal	journal	PROPN
fsr-3177	245	2	of	of	ADP
fsr-3177	245	3	financial	financial	ADJ
fsr-3177	245	4	planning	planning	NOUN
fsr-3177	245	5	,	,	PUNCT
fsr-3177	245	6	16(3	16(3	NOUN
fsr-3177	245	7	)	)	PUNCT
fsr-3177	245	8	,	,	PUNCT
fsr-3177	245	9	72	72	NUM
fsr-3177	245	10	-	-	SYM
fsr-3177	245	11	77	77	NUM
fsr-3177	245	12	.	.	PUNCT
fsr-3177	246	1	esma	esma	PROPN
fsr-3177	246	2	.	.	PUNCT
fsr-3177	247	1	(	(	PUNCT
fsr-3177	247	2	2018	2018	NUM
fsr-3177	247	3	,	,	PUNCT
fsr-3177	247	4	may	may	AUX
fsr-3177	247	5	28	28	NUM
fsr-3177	247	6	)	)	PUNCT
fsr-3177	247	7	.	.	PUNCT
fsr-3177	248	1	final	final	ADJ
fsr-3177	248	2	report	report	NOUN
fsr-3177	248	3	:	:	PUNCT
fsr-3177	248	4	guidelines	guideline	NOUN
fsr-3177	248	5	on	on	ADP
fsr-3177	248	6	certain	certain	ADJ
fsr-3177	248	7	aspects	aspect	NOUN
fsr-3177	248	8	of	of	ADP
fsr-3177	248	9	the	the	DET
fsr-3177	248	10	mifid	mifid	ADJ
fsr-3177	248	11	ii	ii	NOUN
fsr-3177	248	12	suitability	suitability	NOUN
fsr-3177	248	13	requirements	requirement	NOUN
fsr-3177	248	14	,	,	PUNCT
fsr-3177	248	15	esma	esma	PROPN
fsr-3177	248	16	.	.	PUNCT
fsr-3177	249	1	european	european	PROPN
fsr-3177	249	2	securities	securities	PROPN
fsr-3177	249	3	and	and	CCONJ
fsr-3177	249	4	markets	market	NOUN
fsr-3177	249	5	authority	authority	NOUN
fsr-3177	249	6	.	.	PUNCT
fsr-3177	250	1	https://www.esma.europa.eu/sites/defaul	https://www.esma.europa.eu/sites/defaul	PROPN
fsr-3177	250	2	t	t	PROPN
fsr-3177	250	3	/	/	SYM
fsr-3177	250	4	files	file	NOUN
fsr-3177	250	5	/	/	SYM
fsr-3177	250	6	library	library	NOUN
fsr-3177	250	7	/	/	SYM
fsr-3177	250	8	esma35	esma35	NOUN
fsr-3177	250	9	-	-	PUNCT
fsr-3177	250	10	43	43	NUM
fsr-3177	250	11	-	-	PUNCT
fsr-3177	250	12	869_fr_on_guidelines_on_suitability.pdf	869_fr_on_guidelines_on_suitability.pdf	NOUN
fsr-3177	250	13	grable	grable	NOUN
fsr-3177	250	14	,	,	PUNCT
fsr-3177	250	15	j.	j.	PROPN
fsr-3177	250	16	e.	e.	PROPN
fsr-3177	250	17	(	(	PUNCT
fsr-3177	250	18	2008	2008	NUM
fsr-3177	250	19	)	)	PUNCT
fsr-3177	250	20	.	.	PUNCT
fsr-3177	251	1	riskcat	riskcat	NOUN
fsr-3177	251	2	:	:	PUNCT
fsr-3177	251	3	a	a	DET
fsr-3177	251	4	framework	framework	NOUN
fsr-3177	251	5	for	for	ADP
fsr-3177	251	6	identifying	identify	VERB
fsr-3177	251	7	maximum	maximum	ADJ
fsr-3177	251	8	risk	risk	NOUN
fsr-3177	251	9	thresholds	threshold	NOUN
fsr-3177	251	10	.	.	PUNCT
fsr-3177	252	1	in	in	ADP
fsr-3177	252	2	personal	personal	ADJ
fsr-3177	252	3	portfolios	portfolio	NOUN
fsr-3177	252	4	.	.	PUNCT
fsr-3177	253	1	journal	journal	NOUN
fsr-3177	253	2	of	of	ADP
fsr-3177	253	3	financial	financial	ADJ
fsr-3177	253	4	planning	planning	NOUN
fsr-3177	253	5	,	,	PUNCT
fsr-3177	253	6	21(10	21(10	PROPN
fsr-3177	253	7	)	)	PUNCT
fsr-3177	253	8	,	,	PUNCT
fsr-3177	253	9	52	52	NUM
fsr-3177	253	10	-	-	SYM
fsr-3177	253	11	62	62	NUM
fsr-3177	253	12	.	.	PUNCT
fsr-3177	254	1	https://fpperformancelab.org/wpcontent/uploads/riskca	https://fpperformancelab.org/wpcontent/uploads/riskca	PROPN
fsr-3177	254	2	t	t	PROPN
fsr-3177	254	3	-	-	PUNCT
fsr-3177	254	4	aframework	aframework	NOUN
fsr-3177	254	5	-	-	PUNCT
fsr-3177	254	6	for	for	ADP
fsr-3177	254	7	-	-	PUNCT
fsr-3177	254	8	identifying	identify	VERB
fsr-3177	254	9	-	-	PUNCT
fsr-3177	254	10	maximumrisk	maximumrisk	NOUN
fsr-3177	254	11	-	-	PUNCT
fsr-3177	254	12	threshold	threshold	NOUN
fsr-3177	254	13	s-in-personalportfolios.pdf	s-in-personalportfolios.pdf	PROPN
fsr-3177	254	14	grable	grable	PROPN
fsr-3177	254	15	,	,	PUNCT
fsr-3177	254	16	j.	j.	PROPN
fsr-3177	254	17	,	,	PUNCT
fsr-3177	254	18	&	&	CCONJ
fsr-3177	254	19	lytton	lytton	PROPN
fsr-3177	254	20	,	,	PUNCT
fsr-3177	254	21	r.	r.	PROPN
fsr-3177	254	22	(	(	PUNCT
fsr-3177	254	23	1998	1998	NUM
fsr-3177	254	24	)	)	PUNCT
fsr-3177	254	25	.	.	PUNCT
fsr-3177	255	1	investor	investor	NOUN
fsr-3177	255	2	risk	risk	NOUN
fsr-3177	255	3	tolerance	tolerance	NOUN
fsr-3177	255	4	:	:	PUNCT
fsr-3177	255	5	testing	test	VERB
fsr-3177	255	6	the	the	DET
fsr-3177	255	7	efficacy	efficacy	NOUN
fsr-3177	255	8	of	of	ADP
fsr-3177	255	9	demographics	demographic	NOUN
fsr-3177	255	10	as	as	ADP
fsr-3177	255	11	differentiating	differentiate	VERB
fsr-3177	255	12	and	and	CCONJ
fsr-3177	255	13	classifying	classify	VERB
fsr-3177	255	14	factors	factor	NOUN
fsr-3177	255	15	.	.	PUNCT
fsr-3177	256	1	journal	journal	NOUN
fsr-3177	256	2	of	of	ADP
fsr-3177	256	3	financial	financial	ADJ
fsr-3177	256	4	counseling	counseling	NOUN
fsr-3177	256	5	and	and	CCONJ
fsr-3177	256	6	planning	planning	NOUN
fsr-3177	256	7	,	,	PUNCT
fsr-3177	256	8	9(1	9(1	NUM
fsr-3177	256	9	)	)	PUNCT
fsr-3177	256	10	,	,	PUNCT
fsr-3177	256	11	61	61	NUM
fsr-3177	256	12	-	-	SYM
fsr-3177	256	13	74	74	NUM
fsr-3177	256	14	.	.	PUNCT
fsr-3177	257	1	https://www.researchgate.net/publicatio	https://www.researchgate.net/publicatio	X
fsr-3177	257	2	n/228225789_investor_risk_tolerance	n/228225789_investor_risk_tolerance	NOUN
fsr-3177	257	3	_	_	PUNCT
fsr-3177	258	1	testing_the_efficacy_of_demographi	testing_the_efficacy_of_demographi	PROPN
fsr-3177	258	2	cs_as_differentiating_and	cs_as_differentiating_and	PROPN
fsr-3177	258	3	_	_	NOUN
fsr-3177	258	4	classifying_factors	classifying_factor	NOUN
fsr-3177	258	5	haesen	haesen	PROPN
fsr-3177	258	6	,	,	PUNCT
fsr-3177	258	7	d.	d.	PROPN
fsr-3177	258	8	,	,	PUNCT
fsr-3177	258	9	hallerbach	hallerbach	PROPN
fsr-3177	258	10	,	,	PUNCT
fsr-3177	258	11	w.	w.	PROPN
fsr-3177	258	12	g.	g.	PROPN
fsr-3177	258	13	,	,	PUNCT
fsr-3177	258	14	markwat	markwat	PROPN
fsr-3177	258	15	,	,	PUNCT
fsr-3177	258	16	t.	t.	PROPN
fsr-3177	258	17	d.	d.	PROPN
fsr-3177	258	18	,	,	PUNCT
fsr-3177	258	19	&	&	CCONJ
fsr-3177	258	20	molenaar	molenaar	PROPN
fsr-3177	258	21	,	,	PUNCT
fsr-3177	258	22	r.	r.	PROPN
fsr-3177	258	23	(	(	PUNCT
fsr-3177	258	24	2014	2014	NUM
fsr-3177	258	25	)	)	PUNCT
fsr-3177	258	26	.	.	PUNCT
fsr-3177	259	1	enhancing	enhance	VERB
fsr-3177	259	2	risk	risk	NOUN
fsr-3177	259	3	parity	parity	NOUN
fsr-3177	259	4	by	by	ADP
fsr-3177	259	5	including	include	VERB
fsr-3177	259	6	views	view	NOUN
fsr-3177	259	7	.	.	PUNCT
fsr-3177	260	1	journal	journal	NOUN
fsr-3177	260	2	of	of	ADP
fsr-3177	260	3	investing	investing	PROPN
fsr-3177	260	4	,	,	PUNCT
fsr-3177	260	5	26(4	26(4	NUM
fsr-3177	260	6	)	)	PUNCT
fsr-3177	260	7	,	,	PUNCT
fsr-3177	260	8	53	53	NUM
fsr-3177	260	9	-	-	SYM
fsr-3177	260	10	68	68	NUM
fsr-3177	260	11	.	.	PUNCT
fsr-3177	261	1	hanna	hanna	PROPN
fsr-3177	261	2	,	,	PUNCT
fsr-3177	261	3	s.	s.	PROPN
fsr-3177	261	4	d.	d.	PROPN
fsr-3177	261	5	,	,	PUNCT
fsr-3177	261	6	&	&	CCONJ
fsr-3177	261	7	chen	chen	PROPN
fsr-3177	261	8	,	,	PUNCT
fsr-3177	261	9	p.	p.	NOUN
fsr-3177	261	10	(	(	PUNCT
fsr-3177	261	11	1998	1998	NUM
fsr-3177	261	12	)	)	PUNCT
fsr-3177	261	13	.	.	PUNCT
fsr-3177	262	1	subjective	subjective	ADJ
fsr-3177	262	2	and	and	CCONJ
fsr-3177	262	3	objective	objective	ADJ
fsr-3177	262	4	risk	risk	NOUN
fsr-3177	262	5	tolerance	tolerance	NOUN
fsr-3177	262	6	:	:	PUNCT
fsr-3177	262	7	implications	implication	NOUN
fsr-3177	262	8	for	for	ADP
fsr-3177	262	9	optimal	optimal	ADJ
fsr-3177	262	10	portfolios	portfolio	NOUN
fsr-3177	262	11	.	.	PUNCT
fsr-3177	263	1	journal	journal	NOUN
fsr-3177	263	2	of	of	ADP
fsr-3177	263	3	financial	financial	ADJ
fsr-3177	263	4	counseling	counseling	NOUN
fsr-3177	263	5	and	and	CCONJ
fsr-3177	263	6	planning	planning	NOUN
fsr-3177	263	7	8(2	8(2	NUM
fsr-3177	263	8	)	)	PUNCT
fsr-3177	263	9	,	,	PUNCT
fsr-3177	263	10	17	17	NUM
fsr-3177	263	11	-	-	SYM
fsr-3177	263	12	26	26	NUM
fsr-3177	263	13	.	.	PUNCT
fsr-3177	264	1	hubble	hubble	PROPN
fsr-3177	264	2	,	,	PUNCT
fsr-3177	264	3	a.	a.	NOUN
fsr-3177	264	4	,	,	PUNCT
fsr-3177	264	5	grable	grable	PROPN
fsr-3177	264	6	,	,	PUNCT
fsr-3177	264	7	j.	j.	PROPN
fsr-3177	264	8	e.	e.	PROPN
fsr-3177	264	9	,	,	PUNCT
fsr-3177	264	10	&	&	CCONJ
fsr-3177	264	11	dannhauser	dannhauser	PROPN
fsr-3177	264	12	,	,	PUNCT
fsr-3177	264	13	r.	r.	PROPN
fsr-3177	264	14	w.	w.	PROPN
fsr-3177	264	15	(	(	PUNCT
fsr-3177	264	16	2020	2020	NUM
fsr-3177	264	17	)	)	PUNCT
fsr-3177	264	18	.	.	PUNCT
fsr-3177	265	1	investment	investment	NOUN
fsr-3177	265	2	risk	risk	NOUN
fsr-3177	265	3	profiling	profiling	NOUN
fsr-3177	265	4	:	:	PUNCT
fsr-3177	265	5	a	a	DET
fsr-3177	265	6	guide	guide	NOUN
fsr-3177	265	7	for	for	ADP
fsr-3177	265	8	financial	financial	ADJ
fsr-3177	265	9	advisors	advisor	NOUN
fsr-3177	265	10	,	,	PUNCT
fsr-3177	265	11	cfa	cfa	PROPN
fsr-3177	265	12	institute	institute	PROPN
fsr-3177	265	13	.	.	PUNCT
fsr-3177	266	1	https://www.cfainstitute.org/en/researc	https://www.cfainstitute.org/en/researc	PRON
fsr-3177	266	2	h	h	NOUN
fsr-3177	266	3	/	/	SYM
fsr-3177	266	4	industry	industry	NOUN
fsr-3177	266	5	-	-	PUNCT
fsr-3177	266	6	research	research	NOUN
fsr-3177	266	7	/	/	SYM
fsr-3177	266	8	investment	investment	NOUN
fsr-3177	266	9	-	-	PUNCT
fsr-3177	266	10	riskprofiling	riskprofile	VERB
fsr-3177	266	11	http://www.osc.ca/sites/default/files/2021	http://www.osc.ca/sites/default/files/2021	PROPN
fsr-3177	266	12	http://www.osc.ca/sites/default/files/2021	http://www.osc.ca/sites/default/files/2021	PROPN
fsr-3177	266	13	http://www.esma.europa.eu/sites/default/files/library/e	http://www.esma.europa.eu/sites/default/files/library/e	PROPN
fsr-3177	266	14	http://www.esma.europa.eu/sites/default/files/library/e	http://www.esma.europa.eu/sites/default/files/library/e	PROPN
fsr-3177	266	15	http://www.researchgate.net/p	http://www.researchgate.net/p	PROPN
fsr-3177	267	1	http://www.cfainstitute.org/en/research/indu	http://www.cfainstitute.org/en/research/indu	NOUN
fsr-3177	267	2	http://www.cfainstitute.org/en/research/indu	http://www.cfainstitute.org/en/research/indu	PROPN
fsr-3177	267	3	brayman	brayman	NOUN
fsr-3177	267	4	et	et	PROPN
fsr-3177	267	5	al	al	PROPN
fsr-3177	267	6	.	.	PROPN
fsr-3177	267	7	265	265	NUM
fsr-3177	267	8	swisher	swisher	ADJ
fsr-3177	267	9	,	,	PUNCT
fsr-3177	267	10	p.	p.	PROPN
fsr-3177	267	11	,	,	PUNCT
fsr-3177	267	12	&	&	CCONJ
fsr-3177	267	13	kasten	kasten	PROPN
fsr-3177	267	14	,	,	PUNCT
fsr-3177	267	15	g.	g.	PROPN
fsr-3177	267	16	w.	w.	PROPN
fsr-3177	267	17	(	(	PUNCT
fsr-3177	267	18	2005	2005	NUM
fsr-3177	267	19	)	)	PUNCT
fsr-3177	267	20	.	.	PUNCT
fsr-3177	268	1	postmodern	postmodern	PROPN
fsr-3177	268	2	portfolio	portfolio	PROPN
fsr-3177	268	3	theory	theory	PROPN
fsr-3177	268	4	.	.	PUNCT
fsr-3177	269	1	journal	journal	PROPN
fsr-3177	269	2	of	of	ADP
fsr-3177	269	3	financial	financial	ADJ
fsr-3177	269	4	planning	planning	NOUN
fsr-3177	269	5	,	,	PUNCT
fsr-3177	269	6	18(9	18(9	NOUN
fsr-3177	269	7	)	)	PUNCT
fsr-3177	269	8	,	,	PUNCT
fsr-3177	269	9	74	74	NUM
fsr-3177	269	10	-	-	SYM
fsr-3177	269	11	82	82	NUM
fsr-3177	269	12	.	.	PUNCT
fsr-3177	269	13	appendix	appendix	VERB
fsr-3177	269	14	a	a	DET
fsr-3177	269	15	table	table	NOUN
fsr-3177	269	16	12	12	NUM
fsr-3177	269	17	.	.	PUNCT
fsr-3177	270	1	asset	asset	NOUN
fsr-3177	270	2	class	class	NOUN
fsr-3177	270	3	risk	risk	NOUN
fsr-3177	270	4	/	/	SYM
fsr-3177	270	5	return	return	NOUN
fsr-3177	270	6	by	by	ADP
fsr-3177	270	7	country	country	NOUN
fsr-3177	270	8	market	market	NOUN
fsr-3177	270	9	asset	asset	NOUN
fsr-3177	270	10	class	class	NOUN
fsr-3177	270	11	standard	standard	ADJ
fsr-3177	270	12	deviation	deviation	NOUN
fsr-3177	270	13	arithmetic	arithmetic	ADJ
fsr-3177	270	14	average	average	ADJ
fsr-3177	270	15	return	return	NOUN
fsr-3177	270	16	australia	australia	PROPN
fsr-3177	270	17	cash	cash	NOUN
fsr-3177	270	18	5.07	5.07	NUM
fsr-3177	270	19	%	%	NOUN
fsr-3177	270	20	7.51	7.51	NUM
fsr-3177	270	21	%	%	NOUN
fsr-3177	270	22	51	51	NUM
fsr-3177	270	23	years	year	NOUN
fsr-3177	270	24	fixed	fix	VERB
fsr-3177	270	25	income	income	NOUN
fsr-3177	270	26	7.47	7.47	NUM
fsr-3177	270	27	%	%	NOUN
fsr-3177	270	28	8.05	8.05	NUM
fsr-3177	270	29	%	%	NOUN
fsr-3177	270	30	australian	australian	ADJ
fsr-3177	270	31	equity	equity	NOUN
fsr-3177	270	32	23.80	23.80	NUM
fsr-3177	270	33	%	%	NOUN
fsr-3177	270	34	11.58	11.58	NUM
fsr-3177	270	35	%	%	NOUN
fsr-3177	270	36	global	global	ADJ
fsr-3177	270	37	equity	equity	NOUN
fsr-3177	270	38	19.66	19.66	NUM
fsr-3177	270	39	%	%	NOUN
fsr-3177	270	40	12.33	12.33	NUM
fsr-3177	270	41	%	%	NOUN
fsr-3177	270	42	emerging	emerge	VERB
fsr-3177	270	43	30.82	30.82	NUM
fsr-3177	270	44	%	%	NOUN
fsr-3177	270	45	13.51	13.51	NUM
fsr-3177	270	46	%	%	NOUN
fsr-3177	270	47	canada	canada	PROPN
fsr-3177	270	48	cash	cash	NOUN
fsr-3177	270	49	4.00	4.00	NUM
fsr-3177	270	50	%	%	NOUN
fsr-3177	270	51	5.07	5.07	NUM
fsr-3177	270	52	%	%	NOUN
fsr-3177	270	53	73	73	NUM
fsr-3177	270	54	years	year	NOUN
fsr-3177	270	55	fixed	fix	VERB
fsr-3177	270	56	income	income	NOUN
fsr-3177	270	57	8.02	8.02	NUM
fsr-3177	270	58	%	%	NOUN
fsr-3177	270	59	6.36	6.36	NUM
fsr-3177	270	60	%	%	NOUN
fsr-3177	270	61	canadian	canadian	ADJ
fsr-3177	270	62	equities	equity	NOUN
fsr-3177	270	63	16.53	16.53	NUM
fsr-3177	270	64	%	%	NOUN
fsr-3177	270	65	11.19	11.19	NUM
fsr-3177	270	66	%	%	NOUN
fsr-3177	270	67	international	international	ADJ
fsr-3177	270	68	equities	equity	NOUN
fsr-3177	270	69	16.50	16.50	NUM
fsr-3177	270	70	%	%	NOUN
fsr-3177	270	71	11.14	11.14	NUM
fsr-3177	270	72	%	%	NOUN
fsr-3177	270	73	emerging	emerge	VERB
fsr-3177	270	74	markets	market	NOUN
fsr-3177	270	75	27.76	27.76	NUM
fsr-3177	270	76	%	%	NOUN
fsr-3177	270	77	13.11	13.11	NUM
fsr-3177	270	78	%	%	NOUN
fsr-3177	270	79	united	united	ADJ
fsr-3177	270	80	kingdom	kingdom	PROPN
fsr-3177	270	81	cash	cash	NOUN
fsr-3177	270	82	4.52	4.52	NUM
fsr-3177	270	83	%	%	NOUN
fsr-3177	270	84	6.06	6.06	NUM
fsr-3177	270	85	%	%	NOUN
fsr-3177	270	86	66	66	NUM
fsr-3177	270	87	years	year	NOUN
fsr-3177	270	88	fixed	fix	VERB
fsr-3177	270	89	income	income	NOUN
fsr-3177	270	90	10.25	10.25	NUM
fsr-3177	270	91	%	%	NOUN
fsr-3177	270	92	8.48	8.48	NUM
fsr-3177	270	93	%	%	NOUN
fsr-3177	270	94	united	united	PROPN
fsr-3177	270	95	kingdom	kingdom	PROPN
fsr-3177	270	96	equity	equity	NOUN
fsr-3177	270	97	27.05	27.05	NUM
fsr-3177	270	98	%	%	NOUN
fsr-3177	270	99	13.93	13.93	NUM
fsr-3177	270	100	%	%	NOUN
fsr-3177	270	101	global	global	ADJ
fsr-3177	270	102	equity	equity	NOUN
fsr-3177	270	103	18.75	18.75	NUM
fsr-3177	270	104	%	%	NOUN
fsr-3177	270	105	12.36	12.36	NUM
fsr-3177	270	106	%	%	NOUN
fsr-3177	270	107	emerging	emerge	VERB
fsr-3177	270	108	markets	market	NOUN
fsr-3177	270	109	32.97	32.97	NUM
fsr-3177	270	110	%	%	NOUN
fsr-3177	270	111	15.51	15.51	NUM
fsr-3177	270	112	%	%	NOUN
fsr-3177	270	113	u.s	u.s	PROPN
fsr-3177	270	114	.	.	PROPN
fsr-3177	270	115	cash	cash	NOUN
fsr-3177	270	116	3.82	3.82	NUM
fsr-3177	270	117	%	%	NOUN
fsr-3177	270	118	4.87	4.87	NUM
fsr-3177	270	119	%	%	NOUN
fsr-3177	270	120	44	44	NUM
fsr-3177	270	121	years	year	NOUN
fsr-3177	270	122	fixed	fix	VERB
fsr-3177	270	123	income	income	NOUN
fsr-3177	270	124	7.10	7.10	NUM
fsr-3177	270	125	%	%	NOUN
fsr-3177	270	126	6.65	6.65	NUM
fsr-3177	270	127	%	%	NOUN
fsr-3177	270	128	u.s	u.s	PROPN
fsr-3177	270	129	.	.	PROPN
fsr-3177	270	130	equity	equity	NOUN
fsr-3177	270	131	17.63	17.63	NUM
fsr-3177	270	132	%	%	NOUN
fsr-3177	270	133	11.92	11.92	NUM
fsr-3177	270	134	%	%	NOUN
fsr-3177	270	135	u.s	u.s	PROPN
fsr-3177	270	136	.	.	PROPN
fsr-3177	270	137	small	small	ADJ
fsr-3177	270	138	cap	cap	NOUN
fsr-3177	270	139	equity	equity	NOUN
fsr-3177	270	140	18.97	18.97	NUM
fsr-3177	270	141	%	%	NOUN
fsr-3177	270	142	12.50	12.50	NUM
fsr-3177	270	143	%	%	NOUN
fsr-3177	270	144	international	international	ADJ
fsr-3177	270	145	equity	equity	NOUN
fsr-3177	270	146	21.50	21.50	NUM
fsr-3177	270	147	%	%	NOUN
fsr-3177	270	148	11.25	11.25	NUM
fsr-3177	270	149	%	%	NOUN
fsr-3177	270	150	emerging	emerge	VERB
fsr-3177	270	151	markets	market	NOUN
fsr-3177	270	152	33.11	33.11	NUM
fsr-3177	270	153	%	%	NOUN
fsr-3177	270	154	14.48	14.48	NUM
fsr-3177	270	155	%	%	NOUN