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author deals with the problem of minimizing the downside risk associated with an investor's total wealth in a certain incomplete market model. More precisely, consider a market model with one riskless asset, \\(m\\) risky assets and \\(n\\) factors, the prices of the assets at time \\(t\\) being \\(S^0(t),S^1(t),\\dots, S^m(t)\\). It is assumed that the bond price is governed by the ordinary differential equation NEWLINE\\[NEWLINEdS^0(t) = r(X_t)S^0(t)\\,dt,\\quad S^0(0)= s^0.NEWLINE\\]NEWLINE The other security prices and the factors are assumed to satisfy the stochastic diffential equations NEWLINE\\[NEWLINEdS^i(t)= S^i(t) \\Biggl[\\alpha^i(X_t)\\,dt+ \\sum^{n+m}_{k=1} \\sigma^i_k(X_t)\\,dW^k_t\\Biggr],\\quad S^i(0)= s^iNEWLINE\\]NEWLINE and NEWLINE\\[NEWLINEdX_t=\\beta(X_t)\\,dt+ \\lambda(X_t)\\,dW_t,\\quad X(0)= x,NEWLINE\\]NEWLINE where \\(W^t= (W^k_t)\\) \\((k= 1,\\dots,n+ m)\\) is a standard \\((m+n)\\)-dimensional Brownian motion. The total wealth of the investor is given by NEWLINE\\[NEWLINEV_t= N^0_t S^0_t+\\cdots+ N^m_t S^m_t.NEWLINE\\]NEWLINE Here, \\(N^i_t\\) is the number of shares of security \\(i\\) and \\(h^i_t= N^i_t S^i_t/V_t\\) is the proportion of the portfolio invested in the \\(i\\)th security. It is assumed that the strategy \\(h_t= (h^1_t,\\dots, h^m_t)\\) is self-financing (noting that \\(h^0_t= 1-(h^1_t+\\cdots+ h^m_t)\\)). Let \\({\\mathcal H}(T)\\) denote the set of all strategies \\(h(t)\\) \\((0\\leq t\\leq T)\\) which are \\({\\mathcal G}_t\\)-progressive measurable such that NEWLINENEWLINE\\[NEWLINE\\int^T_0|h(s)|^2 ds<\\infty\\quad\\text{almost surely},NEWLINE\\]NEWLINE NEWLINEwhere \\({\\mathcal G}_t= \\sigma(S(u), X(u), u\\leq t)\\). For a given constant \\(\\chi\\) the author studies the asymptotics of minimization of a downside riskNEWLINENEWLINE\\[NEWLINEJ(\\kappa) := \\liminf_{T\\to\\infty} T^{-1} \\text{inf}_{h\\in{\\mathcal H}(T)}\\log P(T^{-1}\\log(V_T(h)/S^0_T)\\leq \\kappa).\\tag{\\(*\\)}NEWLINE\\]NEWLINE NEWLINEBy considering the dual problem of (\\(*\\)), i.e.,NEWLINENEWLINE\\[NEWLINE\\widehat\\kappa(\\gamma):= \\liminf_{T\\to\\infty} T^{-1} \\text{inf}_{h\\in{\\mathcal A}(T)} J(v,x;h,T)\\tag{\\(**\\)}NEWLINE\\]NEWLINENEWLINE(where \\(J(v,x;h,T):= \\log E(\\exp(\\gamma\\log(V_T(h)/S^0_T))]\\) and \\({\\mathcal A}(T)\\) is the set of all admissible strategies), the author obtains a strategy \\((\\widehat h_t(\\kappa,T))\\) such that NEWLINE\\[NEWLINEJ(\\kappa)= \\lim_{T\\to\\infty} T^{-1}\\log P(T^{-1}\\log(V_T(\\widehat h(\\kappa, T)/S^0_T))\\leq \\kappa)NEWLINE\\]NEWLINE NEWLINEwhich finally gives that NEWLINENEWLINE\\[NEWLINEJ(\\kappa)= -\\sup_{\\gamma< 0} (\\gamma\\kappa- 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