By reducing costs to deliver better performance outcomes, Enhanced Portfolio Implementation (EPI) is a key innovation for active institutional investing. EPI forms an emulation strategy designed to deliver improved investment performance, but also provides investors with more control over the implementation process while reducing many of the burdens of a multi-manager discretionary account structure.

This research paper explains why investors should adopt a portfolio emulation strategy, how emulation strategies are evaluated, the cost of an emulation program, and includes real-life scenarios.