The design of strategic asset allocation is a comprehensive and complex task, for which the literature provides numerous solutions. One of these is the Core-Satellite Approach (CSA). The roots of the CSA lie in the Treynor-Black model and the Specialist Approach, which explains the division of a portfolio into two sub-portfolios using a multi-manager approach. This portfolio separation into a (more) passively managed Core portfolio and an actively managed Satellite portfolio addresses the various tasks of an institutional portfolio – providing cash flows to meet liabilities while simultaneously growing assets. It also aims to achieve an efficient use of management fees and a precise overview of the risks associated with the investments.