• Biplab Mahapatra
• Sanjay Mohapatra
• Soumya Guha Deb

The purpose of this paper is to critically review the literature related to Markowitz Mean Variance Model (MV model henceforth) to gain an understanding of the criticisms the MV model is subject to. Second, the paper identifies the realistic constraints, from literature, faced by investors in practice, which are not included in the original MV model. Third, the paper presents an extended model incorporating some of the constraints and suggests a genetic algorithm based approach to solve the proposed model.

Mean Variance, Portfolio optimization, Constraints, Evolutionary Algorithm

"DEVELOPING AN ALTERNATE EXTENDED CONCEPTUAL MEAN-VARIANCE MODEL WITH CONSTRAINTS BASED ON LITERATURE", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 6, page no.220-230, June-2018, Available :http://www.jetir.org/papers/JETIRC006039.pdf

"DEVELOPING AN ALTERNATE EXTENDED CONCEPTUAL MEAN-VARIANCE MODEL WITH CONSTRAINTS BASED ON LITERATURE", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 6, page no. pp220-230, June-2018, Available at : http://www.jetir.org/papers/JETIRC006039.pdf