标题： TrendFolios：多资产组合中利用动量和趋势跟随的组合构建框架 显示英文标题

标题： TrendFolios: A Portfolio Construction Framework for Utilizing Momentum and Trend-Following In a Multi-Asset Portfolio

摘要： 我们设计了一个投资组合构建框架，并利用多个资产类别及其风险因子的动量和趋势跟踪信号实施主动投资策略。 我们量化了该策略的表现，以证明其在超过22年的时间内，能够创造出超越行业标准基准的超额收益，同时管理波动性和回撤风险的能力。 显示英文摘要

摘要： We design a portfolio construction framework and implement an active investment strategy utilizing momentum and trend-following signals across multiple asset classes and asset class risk factors. We quantify the performance of this strategy to demonstrate its ability to create excess returns above industry standard benchmarks, as well as manage volatility and drawdown risks over a 22+ year period.