  Portfolio managers are typically constrained by turnover limits, minimum and
maximum stock positions, cardinality, a target market capitalization and
sometimes the need to hew to a style (such as growth or value). In addition,
portfolio managers often use multifactor stock models to choose stocks based
upon their respective fundamental data.
  We use multiobjective evolutionary algorithms (MOEAs) to satisfy the above
real-world constraints. The portfolios generated consistently outperform
typical performance benchmarks and have statistically significant asset
selection.
