Portfolio Rebalancing Cycle overview

Executes periodic portfolio rebalancing — measuring portfolio drift against target weights and risk factor exposures, generating optimized trade lists using mean-variance or risk-parity optimization with transaction cost penalties, pre-trade compliance checks against mandate constraints (sector limits, position concentration, ESG screens), coordinating execution timing across markets and time zones, and reconciling post-trade portfolio state against target. Produces rebalancing trade blotters, pre/post compliance reports, and implementation shortfall analysis. Excludes investment thesis formation and benchmark selection.