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This paper studies an optimal investment problem under M-CEV with powerutility function. Using Laplace transform we obtain explicit expression foroptimal strategy in terms of confluent hypergeometric functions. For obtainedrepresentations we derive asymptotic and approximation formulas contains onlyelementary functions and continued fractions. These formulas allow to makeanalysis of impact of model's parameters and effects of parametersmisspecification. In addition we propose some extensions of obtained resultsthat can be applicable for algorithmic strategies.

Optimal investment problem with M-CEV model: closed form solution and applications to the algorithmic trading