Fundamentals Of Institutional Asset Management

Fundamentals Of Institutional Asset Management
Author: Frank J Fabozzi
Publisher: World Scientific
Total Pages: 616
Release: 2020-10-12
Genre: Business & Economics
ISBN: 981122160X

This book provides the fundamentals of asset management. It takes a practical perspective in describing asset management. Besides the theoretical aspects of investment management, it provides in-depth insights into the actual implementation issues associated with investment strategies. The 19 chapters combine theory and practice based on the experience of the authors in the asset management industry. The book starts off with describing the key activities involved in asset management and the various forms of risk in managing a portfolio. There is then coverage of the different asset classes (common stock, bonds, and alternative assets), collective investment vehicles, financial derivatives, common stock analysis and valuation, bond analytics, equity beta strategies (including smart beta), equity alpha strategies (including quantitative/systematic strategies), bond indexing and active bond portfolio strategies, and multi-asset strategies. The methods of using financial derivatives (equity derivatives, interest rate derivatives, and credit derivatives) in managing the risks of a portfolio are clearly explained and illustrated.

Your First Book in Multi-Asset Investing

Your First Book in Multi-Asset Investing
Author: Jacky Tang, PhD
Publisher: Independently Published
Total Pages: 0
Release: 2023-04
Genre:
ISBN:

Investing is an essential tool for achieving financial security and building wealth. However, the world of investing can be complex and overwhelming, especially for beginners. With so many investment options available, it can be challenging to know where to start or how to diversify your portfolio effectively. In recent years, multi-asset investing has gained popularity as a strategy for managing risk and maximizing returns. Multi-asset investing involves investing in a variety of asset classes, such as stocks, bonds, real estate, and commodities, to create a diversified portfolio. This approach allows investors to spread their risk across different types of assets, reducing the impact of market volatility on their portfolio. If you're new to investing, multi-asset investing can be an excellent way to start. However, it's crucial to have a solid understanding of the basics before diving into this strategy. This book, Your First Book in Multi-Asset Investing, is designed to provide you with the knowledge and tools you need to get started with multi-asset investing. In this book, we'll cover the fundamentals of investing, including the different types of assets you can invest in and the risks and benefits associated with each. We'll explore the various investment vehicles available, such as mutual funds, exchange-traded funds (ETFs), and individual stocks, and how to choose the right ones for your portfolio. We'll also delve into the principles of diversification, asset allocation, and risk management, which are essential components of multi-asset investing. You'll learn how to create a diversified portfolio that balances risk and return and how to adjust your portfolio over time to reflect your changing investment goals and risk tolerance. One of the most significant advantages of multi-asset investing is its ability to provide exposure to a wide range of asset classes. We'll take an in-depth look at some of the most popular asset classes, including stocks, bonds, real estate, and commodities, and how to incorporate them into your portfolio. We'll also discuss alternative investments, such as private equity and hedge funds, and their potential benefits and risks. Whether you're a beginner or an experienced investor looking to diversify your portfolio, Your First Book in Multi-Asset Investing is an essential resource for anyone looking to achieve financial security and build long-term wealth. By the end of this book, you'll have the knowledge and tools you need to create a diversified, multi-asset portfolio that aligns with your investment goals and risk tolerance. The purpose of this book is to provide an introduction to multi-asset investing. The book covers a wide range of topics, including the basics of multi-asset investing, the benefits and risks of multi-asset investing, the different types of multi-asset strategies, and the key factors that investors need to consider when managing a multi-asset portfolio. One of the primary objectives of this book is to help readers understand the role that multi-asset investing can play in their overall investment strategy. Multi-asset investing is a powerful tool that can help investors to achieve their investment goals, by providing them with access to a wide range of asset classes and investment strategies. Whether you are an investor, a student, or a finance professional, Your First Book in Multi-Asset Investing is an essential resource that will help you understand the world of multi-asset investing, and to make informed decisions that will help you to achieve your investment goals.

Multi-Asset Investing

Multi-Asset Investing
Author: Yoram Lustig
Publisher: Harriman House Limited
Total Pages: 405
Release: 2013-01-07
Genre: Business & Economics
ISBN: 0857192515

Planning, constructing and managing a multi-asset portfolio A multi-asset investment management approach provides diversification benefits, enhances risk-adjusted returns and enables a portfolio to be tailored to a wide range of investing objectives, whether these are generating returns or income, or matching liabilities. This book is divided into four parts that follow the four stages of the multi-asset investment management process: 1. Establishing objectives: Defining the return objectives, risk objectives and investment constraints of a portfolio. 2. Setting an investment strategy: Setting a plan to achieve investment objectives by thinking about long-term strategic asset allocation, combining asset classes and optimisation to derive the most efficient asset allocation. 3. Implementing a solution: Turning the investment strategy into a portfolio using short-term tactical asset allocation, investment selection and risk management. This section includes examples of investment strategies. 4. Reviewing: Evaluating the performance of a portfolio by examining results, risk, portfolio positioning and the economic environment. By dividing the multi-asset investment process into these well-defined stages, Yoram Lustig guides the reader through the various decisions that have to be made and actions that have to be taken. He builds carefully from defining investment objectives, formulating an investment strategy and the steps of selecting investments, leading to constructing and managing multi-asset portfolios. At each stage the considerations and strategies to be undertaken are detailed, and the description of the process is supported with relevant financial theory as well as practical, real-life examples. 'Multi-asset Investing' is an essential handbook for the modern approach to investment portfolio management.

Multi Asset Class Investment Strategy

Multi Asset Class Investment Strategy
Author: Guy Fraser-Sampson
Publisher: John Wiley & Sons
Total Pages: 320
Release: 2006-07-11
Genre: Business & Economics
ISBN: 0470033894

The book explains that instead of asset allocation being set in an isolated and arbitrary fashion, it is in fact the way in which specific hurdle investment returns can be targeted, and that this approach is already in use in the US (and has been for many years). It involves extended and detailed financial analysis of various asset class returns and proposes a five-asset class approach for future use. Opening with a study of the historic asset allocation practice of UK pension funds, the book shows how the current approach has led to the present funding crisis. It goes on to compare and contrast the UK approach with that of the US and to propose a new approach to UK asset allocation: the five asset class approach ("MAC Investing"). The book reviews and analyses different asset classes based on historic returns, examines risk, and concludes with a suggestion of the five asset classes to use; Quoted equities (both Domestic and foreign), hedge funds, private equity and property. This book also includes benchmark performance figures never previously published.

Multi-Asset Investing

Multi-Asset Investing
Author: Pranay Gupta
Publisher: John Wiley & Sons
Total Pages: 296
Release: 2016-03-09
Genre: Business & Economics
ISBN: 1119241596

Despite the accepted fact that a substantial part of the risk and return of any portfolio comes from asset allocation, we find today that the majority of investment professionals worldwide are focused on security selection. Multi-Asset Investing: A Practitioner’s Framework questions this basic structure of the investment process and investment industry. Who says we have to separate alpha and beta? Are the traditional definitions for risk and risk premium relevant in a multi-asset class world? Do portfolios cater for the ‘real risks’ in their investment processes? Does the whole Emerging Markets demarcation make sense for investing? Why do active Asian managers perform much poorer compared to developed market managers? Can you distinguish how much of a strategy’s performance comes from skill rather than luck? Does having a performance fee for your manager create alignment or misalignment? Why is the asset management transitioning from multi-asset strategies to multi-asset solutions? These and many other questions are asked, and suggestions provided as potential solutions. Having worked together for fifteen years, the authors’ present implementable solutions which have helped them successfully manage large asset pools. The Academic Perspective “Multi-Asset Investing asks fundamental questions about the asset allocation investment processes in use today, and can have a substantial impact on the future structure of the finance industry. It clarifies and distils the techniques that investment professionals need to master to add value to client portfolios.” —Paul Smith, President & CEO, CFA Institute “Pranay Gupta, Sven Skallsjo, and Bing Li describe the essential concepts and applications of multi-asset investing. Their treatment is far ranging and exceptionally lucid, and always with a nod to practical application. Buy this book and keep it close at hand.” —Mark Kritzman, MIT Sloane School of Management “Innovative solutions to some of the most difficult investment problems we are faced with today. Multi-asset Investing tackles investment issues which don’t have straight forward solutions, but nevertheless are faced by every investment professional. This book sets the standard for investment processes of all asset managers.” —SP Kothari, MIT Sloane School of Management The Asset Owner Perspective “Multi-asset means different things to different people. This is the first text that details a comprehensive framework for managing any kind of multi-asset investment problem. Further, its explanation of the commercial aspects of managing a multi-asset investment business for an asset manager, private bank or asset owner make it an indispensable tool” —Sadayuki Horie, Dy. Chairman - Investment Advisory Comm., Government Pension Investment Fund, Japan “Multi-Asset Investing shows the substantial scope there is to innovate the asset allocation process. With its novel approaches to allocation, portfolio construction and risk management it demonstrates the substantial value that can be added to any portfolio. The solutions proposed by Multi-Asset Investing are creative, thought provoking, and may well be the way all portfolios need to be managed in the future.” —Mario Therrien, Senior Vice President, Caisse de Depot et Placement du Quebec, Canada The Asset Manager’s Perspective “Never has astute asset allocation and diversification been more crucial than today. Asset Managers which are able to innovate their investment processes and products in this area, are more likely to be the winners. Multi-Asset Investing provides both simple and sophisticated, tested and implementable techniques for successfully managing multi-asset portfolios.” —Vincent Camerlynck, former CEO BNP Paribas Investment Partners, Asia Pacific The Investment Strategist Perspective “For plan sponsors, portfolio managers, analysts and risk managers, Multi-Asset Investing is an unparalleled guide for portfolio management. Its approach to blending the quantitative and fundamental, top-down and bottom up and the risk and return frameworks makes it a valuable tool for any kind of investment professional. It clarifies a complex subject into a series of practical ideas to help add value to any portfolio.” —Ajay S. Kapur, Chief Strategist, BOA Merrill Lynch Asia

Multi-Asset Risk Modeling

Multi-Asset Risk Modeling
Author: Morton Glantz
Publisher: Academic Press
Total Pages: 545
Release: 2013-12-03
Genre: Business & Economics
ISBN: 0124016944

Multi-Asset Risk Modeling describes, in a single volume, the latest and most advanced risk modeling techniques for equities, debt, fixed income, futures and derivatives, commodities, and foreign exchange, as well as advanced algorithmic and electronic risk management. Beginning with the fundamentals of risk mathematics and quantitative risk analysis, the book moves on to discuss the laws in standard models that contributed to the 2008 financial crisis and talks about current and future banking regulation. Importantly, it also explores algorithmic trading, which currently receives sparse attention in the literature. By giving coherent recommendations about which statistical models to use for which asset class, this book makes a real contribution to the sciences of portfolio management and risk management. Covers all asset classes Provides mathematical theoretical explanations of risk as well as practical examples with empirical data Includes sections on equity risk modeling, futures and derivatives, credit markets, foreign exchange, and commodities

Asset Allocation Strategies for Mutual Funds

Asset Allocation Strategies for Mutual Funds
Author: Giuseppe Galloppo
Publisher: Springer Nature
Total Pages: 485
Release: 2021-07-24
Genre: Business & Economics
ISBN: 3030761282

This book offers an overview of the best-working strategies in the field of equity and fixed income mutual fund-based portfolio management. This timely research considers different market conditions, such as global financial crises, across various geographical regions such as the USA and Europe. Combining academic and practical findings, the author presents a practitioner perspective on mutual fund-based portfolio strategies, appealing not only to finance scholars but also professionals within the asset management industry. This book synthesizes a large part of the academic research to date on the mutual fund industry by drawing from the most widely cited academic journals. The author makes a systematic use of numerical examples to facilitate the understanding of Investment themes organized around several important topics: size, diversification, flows, active management, volatility, performance persistence and rating.