Definitions for "Efficient Portfolio"
A portfolio that provides the best expected returns for a given level of risk, or, equivalently, the lowest risk possible for a given level of expected returns.... more on: Efficient portfolio
The portfolio providing the highest return for a given level of risk.
A portfolio whose risk return characteristics fall on the efficient frontier, i.e.: at a given level of risk there is no portfolio with a higher expected return and for a given expected return there is no portfolio with a lower level of risk.