Asset Allocation Performance Measurement And Downside Risk

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Managing Downside Risk in Financial Markets

Author : Frank A. Sortino
Publisher : Butterworth-Heinemann
ISBN 13 : 9780750648639
Total Pages : 302 pages
Book Rating : 4.6/5 (486 download)

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Book Synopsis Managing Downside Risk in Financial Markets by : Frank A. Sortino

Download or read book Managing Downside Risk in Financial Markets written by Frank A. Sortino and published by Butterworth-Heinemann. This book was released on 2001-10-02 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantitative methods have revolutionized the area of trading, regulation, risk management, portfolio construction, asset pricing and treasury activities, and governmental activity such as central banking to name but some of the applications. Downside-risk, as a quantitative method, is an accurate measurement of investment risk, because it captures the risk of not accomplishing the investor's goal. 'Downside Risk in Financial Markets' demonstrates how downside-risk can produce better results in performance measurement and asset allocation than variance modelling. Theory, as well as the practical issues involved in its implementation, is covered and the arguments put forward emphatically show the superiority of downside risk models to variance models in terms of risk measurement and decision making. Variance considers all uncertainty to be risky. Downside-risk only considers returns below that needed to accomplish the investor's goal, to be risky. Risk is one of the biggest issues facing the financial markets today. 'Downside Risk in Financial Markets' outlines the major issues for Investment Managers and focuses on "downside-risk" as a key activity in managing risk in investment/portfolio management. Managing risk is now THE paramount topic within the financial sector and recurring losses through the 1990s has shocked financial institutions into placing much greater emphasis on risk management and control. Free Software Enclosed To help you implement the knowledge you will gain from reading this book, a CD is enclosed that contains free software programs that were previously only available to institutional investors under special licensing agreement to The pension Research Institute. This is our contribution to the advancement of professionalism in portfolio management. The Forsey-Sortino model is an executable program that: 1. Runs on any PC without the need of any additional software. 2. Uses the bootstrap procedure developed by Dr. Bradley Effron at Stanford University to uncover what could have happened, instead of relying only on what did happen in the past. This is the best procedure we know of for describing the nature of uncertainty in financial markets. 3. Fits a three parameter lognormal distribution to the bootstrapped data to allow downside risk to be calculated from a continuous distribution. This improves the efficacy of the downside risk estimates. 4. Calculates upside potential and downside risk from monthly returns on any portfolio manager. 5. Calculates upside potential and downside risk from any user defined distribution. Forsey-Sortino Source Code: 1. The source code, written in Visual Basic 5.0, is provided for institutional investors who want to add these calculations to their existing financial services. 2. No royalties are required for this source code, providing institutions inform clients of the source of these calculations. A growing number of services are now calculating downside risk in a manner that we are not comfortable with. Therefore, we want investors to know when downside risk and upside potential are calculated in accordance with the methodology described in this book. Riddles Spreadsheet: 1. Neil Riddles, former Senior Vice President and Director of Performance Analysis at Templeton Global Advisors, now COO at Hansberger Global Advisors Inc., offers a free spreadsheet in excel format. 2. The spreadsheet calculates downside risk and upside potential relative to the returns on an index Brings together a range of relevant material, not currently available in a single volume source. Provides practical information on how financial organisations can use downside risk techniques and technological developments to effectively manage risk in their portfolio management. Provides a rigorous theoretical underpinning for the use of downside risk techniques. This is important for the long-run acceptance of the methodology, since such arguments justify consultant's recommendations to pension funds and other plan sponsors.

Asset Allocation, Performance Measurement and Downside Risk

Author : Alexandra Elisabeth Janovsky
Publisher : diplom.de
ISBN 13 : 3832432213
Total Pages : 121 pages
Book Rating : 4.8/5 (324 download)

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Book Synopsis Asset Allocation, Performance Measurement and Downside Risk by : Alexandra Elisabeth Janovsky

Download or read book Asset Allocation, Performance Measurement and Downside Risk written by Alexandra Elisabeth Janovsky and published by diplom.de. This book was released on 2001-03-26 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Abstract: Investors should not and in fact do not hold a single asset, they hold groups or portfolios of assets. An important aspect in portfolio theory is that the risk of a portfolio is more complex than the risk of its components. It depends on how much the assets represented in the portfolio move together, that is, on the correlation between the single assets. In portfolio theory, there are several definitions of risk: First of all, the Capital Asset Pricing Model (CAPM) relies on the beta factor of an asset relative to the market as a measure for the asset s risk. On the other hand, also downside risk can be used in order to determine a portfolio s risk. The kind of risk in question is market risk, which is the risk of losses arising from adverse movements in market prices or rates. Market risk can be subdivided into interest rate risk, equity price risk, exchange rate risk and commodity price risk. For many investment decisions, there is a minimum return that has to be reached in order to meet different criteria. Returns above this minimum acceptable return ensure that these goals are reached and thus are not considered risky. Standard deviation captures the risk associated with achieving the mean, while downside risk assumes that only those returns that fall below the minimal acceptable return incur risk. One has to distinguish between good and bad volatility. Good volatility is dispersion above the minimal acceptable return, the farther above the minimal acceptable return, the better it is. One way of measuring downside risk is to consider the shortfall probability or chances of falling below the minimal acceptable return. Another possibility is measuring downside variance, i.e. variance of the returns falling below the minimal acceptable return. As a consequence, downside variance is very sensitive to the estimate of the mean of the return function, while standard deviation does not suffer from this problem. Thus the calculation of downside deviation is more difficult than the calculation of standard deviation. The quality of the calculation also depends on the choice of differencing interval of the time series. The calculation of downside risk assumes that financial time series follow either a normal or lognormal distribution. Finally, there is no universal risk measure for the many broad categories of risk. For example, standard deviation captures the risk of not achieving the mean, beta captures the risk of investing [...]

Practical Portfolio Performance Measurement and Attribution

Author : Carl R. Bacon
Publisher : John Wiley & Sons
ISBN 13 : 1119831946
Total Pages : 569 pages
Book Rating : 4.1/5 (198 download)

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Book Synopsis Practical Portfolio Performance Measurement and Attribution by : Carl R. Bacon

Download or read book Practical Portfolio Performance Measurement and Attribution written by Carl R. Bacon and published by John Wiley & Sons. This book was released on 2023-02-28 with total page 569 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practitioner's guide to the role and implications of performance measurement and attribution analysis in asset management firms Practical Portfolio Performance Measurement and Attribution is a comprehensive reference and guide to the use and calculation of performance returns in the investment decision process. Focusing on real-world application rather than academic theory, this highly practical book helps asset managers and investors determine return on assets, analyse portfolio behaviour and improve performance. Author Carl R. Bacon clearly describes each of the methodologies used by performance analysts in today's financial environment whilst sharing valuable insights drawn from his experience as a Director of Performance Measurement & Risk Control. The third edition is revised to reflect recent developments in performance attribution and presentation standards. Fully up-to-date chapters cover the entire performance measurement process, including return calculations, attribution methodologies, risk measures, manager selection and presentation of performance information. Written by an acknowledged leader in global investment performance standards, performance attribution technique and risk measurement Aligns with the publication of the 2020 Global Investment Performance Standards (GIPS®) Explains the mathematical aspects of performance measurement and attribution in a clear, easy-to-understand manner Provides numerous practical and worked examples of attribution analysis and risk calculations supported by Excel spreadsheets Includes signposts for the future development of performance measurement Practical Portfolio Performance Measurement and Attribution, Third Edition, remains a must-have for performance analysts and risk controllers, portfolio managers, compliance professionals and all asset managers, owners, consultants and servicing firms.

Managing Downside Risk in Financial Markets

Author : Frank A. Sortino
Publisher : Elsevier
ISBN 13 : 0080496202
Total Pages : 282 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis Managing Downside Risk in Financial Markets by : Frank A. Sortino

Download or read book Managing Downside Risk in Financial Markets written by Frank A. Sortino and published by Elsevier. This book was released on 2001-09-20 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantitative methods have revolutionized the area of trading, regulation, risk management, portfolio construction, asset pricing and treasury activities, and governmental activity such as central banking to name but some of the applications. Downside-risk, as a quantitative method, is an accurate measurement of investment risk, because it captures the risk of not accomplishing the investor's goal.'Downside Risk in Financial Markets' demonstrates how downside-risk can produce better results in performance measurement and asset allocation than variance modelling. Theory, as well as the practical issues involved in its implementation, is covered and the arguments put forward emphatically show the superiority of downside risk models to variance models in terms of risk measurement and decision making. Variance considers all uncertainty to be risky. Downside-risk only considers returns below that needed to accomplish the investor's goal, to be risky.Risk is one of the biggest issues facing the financial markets today. 'Downside Risk in Financial Markets' outlines the major issues for Investment Managers and focuses on "downside-risk" as a key activity in managing risk in investment/portfolio management. Managing risk is now THE paramount topic within the financial sector and recurring losses through the 1990s has shocked financial institutions into placing much greater emphasis on risk management and control.Free Software Enclosed To help you implement the knowledge you will gain from reading this book, a CD is enclosed that contains free software programs that were previously only available to institutional investors under special licensing agreement to The pension Research Institute. This is our contribution to the advancement of professionalism in portfolio management.The Forsey-Sortino model is an executable program that:1. Runs on any PC without the need of any additional software.2. Uses the bootstrap procedure developed by Dr. Bradley Effron at Stanford University to uncover what could have happened, instead of relying only on what did happen in the past. This is the best procedure we know of for describing the nature of uncertainty in financial markets. 3. Fits a three parameter lognormal distribution to the bootstrapped data to allow downside risk to be calculated from a continuous distribution. This improves the efficacy of the downside risk estimates.4. Calculates upside potential and downside risk from monthly returns on any portfolio manager. 5. Calculates upside potential and downside risk from any user defined distribution.Forsey-Sortino Source Code:1. The source code, written in Visual Basic 5.0, is provided for institutional investors who want to add these calculations to their existing financial services. 2. No royalties are required for this source code, providing institutions inform clients of the source of these calculations. A growing number of services are now calculating downside risk in a manner that we are not comfortable with. Therefore, we want investors to know when downside risk and upside potential are calculated in accordance with the methodology described in this book. Riddles Spreadsheet:1. Neil Riddles, former Senior Vice President and Director of Performance Analysis at Templeton Global Advisors, now COO at Hansberger Global Advisors Inc., offers a free spreadsheet in excel format.2. The spreadsheet calculates downside risk and upside potential relative to the returns on an index

Portfolio Performance Evaluation

Author : George O. Aragon
Publisher : Now Publishers Inc
ISBN 13 : 1601980825
Total Pages : 123 pages
Book Rating : 4.6/5 (19 download)

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Book Synopsis Portfolio Performance Evaluation by : George O. Aragon

Download or read book Portfolio Performance Evaluation written by George O. Aragon and published by Now Publishers Inc. This book was released on 2008 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a review of the methods for measuring portfolio performance and the evidence on the performance of professionally managed investment portfolios. Traditional performance measures, strongly influenced by the Capital Asset Pricing Model of Sharpe (1964), were developed prior to 1990. We discuss some of the properties and important problems associated with these measures. We then review the more recent Conditional Performance Evaluation techniques, designed to allow for expected returns and risks that may vary over time, and thus addressing one major shortcoming of the traditional measures. We also discuss weight-based performance measures and the stochastic discount factor approach. We review the evidence that these newer measures have produced on selectivity and market timing ability for professional managed investment funds. The evidence includes equity style mutual funds, pension funds, asset allocation style funds, fixed income funds and hedge funds.

Practical Risk-Adjusted Performance Measurement

Author : Carl R. Bacon
Publisher : John Wiley & Sons
ISBN 13 : 1119838878
Total Pages : 320 pages
Book Rating : 4.1/5 (198 download)

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Book Synopsis Practical Risk-Adjusted Performance Measurement by : Carl R. Bacon

Download or read book Practical Risk-Adjusted Performance Measurement written by Carl R. Bacon and published by John Wiley & Sons. This book was released on 2021-10-22 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explore different measures of ex-post risk-adjusted performance measurement and learn to choose the correct one In the newly revised Second Edition of Practical Risk-Adjusted Performance Measurement, accomplished risk and investment expert Carl R. Bacon delivers an insightful, accessible, and real-world guide to ex-post risk measurement. The author bridges the gap between theory and practice, showing you how to apply the former to the latter without introducing unnecessary mathematical complexity. The book describes the fundamentals of risk in the asset management context and the descriptive statistics used to describe it. It builds on that foundation with detailed examinations of concepts like regression, drawdown, and partial moments, before moving on to topics like fixed income risk and Prospect Theory. With helpful additions that include recently developed measures of risk, supplementary explanatory sections, and six brand-new chapters, this book also offers: A practical classification of all ex-post risk measures and how they connect to one another An explanation of how risk-adjusted performance measures impact performance fees A discussion of risk measure dashboard designs Instructions on how appraisal measures should be used for manager selection Perfect for portfolio managers, asset owners, risk controllers, and investment performance analysts, Practical Risk-Adjusted Performance Measurement is an indispensable resource for anyone looking for a hands-on exploration of the buy-side, asset management perspective.

Investment Risk Management

Author : Harold Kent Baker
Publisher : Oxford University Press, USA
ISBN 13 : 0199331960
Total Pages : 709 pages
Book Rating : 4.1/5 (993 download)

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Book Synopsis Investment Risk Management by : Harold Kent Baker

Download or read book Investment Risk Management written by Harold Kent Baker and published by Oxford University Press, USA. This book was released on 2015 with total page 709 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment Risk Management provides an overview of developments in risk management and a synthesis of research on the subject. The chapters examine ways to alter exposures through measuring and managing risk exposures and provide an understanding of the latest strategies and trends within risk management.

Investment Performance Measurement

Author : Bruce J. Feibel
Publisher : John Wiley & Sons
ISBN 13 : 0471268496
Total Pages : 371 pages
Book Rating : 4.4/5 (712 download)

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Book Synopsis Investment Performance Measurement by : Bruce J. Feibel

Download or read book Investment Performance Measurement written by Bruce J. Feibel and published by John Wiley & Sons. This book was released on 2003-02-04 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many investment books include a chapter or two on investment performance measurement or focus on a single aspect, but only one book addresses the breadth of the field. Investment Performance Measurement is a comprehensive guide that covers the subjects of performance and risk calculation, attribution, presentation, and interpretation. This information-packed book covers a wide range of related topics, including calculation of the returns earned by portfolios; measurement of the risks taken to earn these returns; measurement of the risk and return efficiency of the portfolio and other indicators of manager skill; and much more. By reviewing both the concepts of performance measurement and examples of how they are used, readers will gain the insight necessary to understand and evaluate the management of investment funds. Investment Performance Measurement makes extensive use of fully worked examples that supplement formulas and is a perfect companion to professional courses and seminars for analysts. Bruce J. Feibel, CFA, is Product Manager at Eagle Investment Systems, an investment management software provider located in Newton, Massachusetts. He is responsible for overseeing the development of Eagle's investment performance measurement, attribution, and AIMR/GIPS compliance software. Prior to joining Eagle, Mr. Feibel was a principal at State Street Global Advisors. He earned his BS in accounting from the University of Florida.

Beyond Diversification: What Every Investor Needs to Know About Asset Allocation

Author : Sebastien Page
Publisher : McGraw Hill Professional
ISBN 13 : 1260474887
Total Pages : 256 pages
Book Rating : 4.2/5 (64 download)

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Book Synopsis Beyond Diversification: What Every Investor Needs to Know About Asset Allocation by : Sebastien Page

Download or read book Beyond Diversification: What Every Investor Needs to Know About Asset Allocation written by Sebastien Page and published by McGraw Hill Professional. This book was released on 2020-11-10 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Generate solid, long-term profits with a portfolio allocated for your investing needs Asset allocation is the key to investing performance. Unfortunately, no single approach works perfectly—developing the right balance requires a clear-eyed look at the many models available to you, various investing methodologies, and your or your client’s level of risk tolerance. And that’s where this important guide comes in. Written by a leading allocation expert from T. Rowe Price, Beyond Diversification provides the knowledge, insights, and approaches you need to make the best allocation decisions for your goals. This deep dive into the how’s and why’s of asset allocation is organized by the three decisive components of a successfully allocated portfolio: Return Forecasting discusses the desired return investors seek. Risk Forecasting covers the level of risk investors are prepared to assume to achieve that return. Portfolio Construction calibrates the stock-bond mix that balances the risks and returns. With examples from T. Rowe Price’s asset allocation team showing you how the process works in the real world, Beyond Diversification provides everything you need to find the asset combination that will deliver the results you seek. You’ll learn how to choose the right tradeoffs, build the most effective asset allocation combination for your needs, and dramatically increase your odds of success for the long run.

Fundamentals Of Institutional Asset Management

Author : Frank J Fabozzi
Publisher : World Scientific
ISBN 13 : 981122160X
Total Pages : 616 pages
Book Rating : 4.8/5 (112 download)

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Book Synopsis Fundamentals Of Institutional Asset Management by : Frank J Fabozzi

Download or read book Fundamentals Of Institutional Asset Management written by Frank J Fabozzi and published by World Scientific. This book was released on 2020-10-12 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Hedge Fund Modelling and Analysis

Author : Paul Darbyshire
Publisher : John Wiley & Sons
ISBN 13 : 1118879570
Total Pages : 306 pages
Book Rating : 4.1/5 (188 download)

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Book Synopsis Hedge Fund Modelling and Analysis by : Paul Darbyshire

Download or read book Hedge Fund Modelling and Analysis written by Paul Darbyshire and published by John Wiley & Sons. This book was released on 2016-12-19 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Use powerful C++ algorithms and Object Oriented Programming (OOP) to aid in hedge fund decision making Low interest rates, overcrowded markets and greater regulatory oversight are just some of the many reasons it is close to impossible for hedge funds to draw competitive returns. The solution for many hedge fund managers, quantitative investment analysts and risk managers is to adopt new technologies, platforms and programming languages to better manage their risks and maximise the benefits of their return profiles. Hedge Fund Modelling and Analysis is a full course in the latest analytic strategies for hedge fund investing, complete with a one-of-a-kind primer on both C++ and object oriented programming (OOP). Covering both basic and risk-adjusted performance measures, this practitioner's guide enables you to manage risk easily and make the most of key statistics with simple and advanced analysis techniques. This highly anticipated third book in the widely used Hedge Fund Modelling and Analysis series is the only guide available for applying the powerful C++ language to revolutionise hedge fund trading. Even if you've never worked with code before, the focused overview of C++ gives you everything you need to navigate the technical aspects of object oriented programming, which enables you to build sophisticated analysis programs from small units of reusable code. This book is your breakthrough introduction to winning with hedge funds in the new reality of trading. Jumpstart your new approach to beating the markets with: All the guidance and hands-on support you need to use quantitative strategies to optimise hedge fund decision-making. Illustrative modelling exercises and worked-out problems demonstrating what to expect when assessing risk and return factors in the real world. A companion website offering additional C++ programs, algorithms and data to download. Make reading Hedge Fund Modelling and Analysis your new routine and gain all the insight and relevant information you need to beat the markets.

Asset Allocation Considerations for Pension Insurance Funds

Author : Christian Hertrich
Publisher : Springer Science & Business Media
ISBN 13 : 3658021675
Total Pages : 405 pages
Book Rating : 4.6/5 (58 download)

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Book Synopsis Asset Allocation Considerations for Pension Insurance Funds by : Christian Hertrich

Download or read book Asset Allocation Considerations for Pension Insurance Funds written by Christian Hertrich and published by Springer Science & Business Media. This book was released on 2013-04-16 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: The central research objective of the dissertation is to assess the suitability of Social Responsible Investments (SRIs) as well as alternative investments for the strategic asset allocation of German Pension Insurance Funds (Pensionskassen). Using a Vector Error Correction model, we estimate the data generating process of the underlying input variables. A bootstrap simulation allows generating future return paths of the underlying portfolios. These return distributions will subsequently be used as input for different asset allocation strategies.The empirical results of our research study offer valuable conclusions: (1) SRI-structured portfolios consistently perform better than conventional portfolios, (2) including alternative investments has a beneficial effect on the risk-return distribution and (3) derivative overlay structures mitigate downside risk exposure without impacting average fund performance. In terms of alternative allocation models, (1) high-equity portfolios lead to an increase in return volatility without sufficiently compensating investors with higher returns, (2) hedging against price increases by engineering a portfolio with inflation-suitable assets yields mixed results, (3) a portfolio composition that combines derivative overlay strategies for both equities and corporate bonds and uses SRI-screened assets as underlying generates the best results.

Portfolio Management

Author : Scott D. Stewart
Publisher : John Wiley & Sons
ISBN 13 : 1119397413
Total Pages : 720 pages
Book Rating : 4.1/5 (193 download)

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Book Synopsis Portfolio Management by : Scott D. Stewart

Download or read book Portfolio Management written by Scott D. Stewart and published by John Wiley & Sons. This book was released on 2019-03-26 with total page 720 pages. Available in PDF, EPUB and Kindle. Book excerpt: A career’s worth of portfolio management knowledge in one thorough, efficient guide Portfolio Management is an authoritative guide for those who wish to manage money professionally. This invaluable resource presents effective portfolio management practices supported by their underlying theory, providing the tools and instruction required to meet investor objectives and deliver superior performance. Highlighting a practitioner’s view of portfolio management, this guide offers real-world perspective on investment processes, portfolio decision making, and the business of managing money for real clients. Real world examples and detailed test cases—supported by sophisticated Excel templates and true client situations—illustrate real investment scenarios and provide insight into the factors separating success from failure. The book is an ideal textbook for courses in advanced investments, portfolio management or applied capital markets finance. It is also a useful tool for practitioners who seek hands-on learning of advanced portfolio techniques. Managing other people’s money is a challenging and ever-evolving business. Investment professionals must keep pace with the current market environment to effectively manage their client’s assets while students require a foundation built on the most relevant, up-to-date information and techniques. This invaluable resource allows readers to: Learn and apply advanced multi-period portfolio methods to all major asset classes. Design, test, and implement investment processes. Win and keep client mandates. Grasp the theoretical foundations of major investment tools Teaching and learning aids include: Easy-to-use Excel templates with immediately accessible tools. Accessible PowerPoint slides, sample exam and quiz questions and sample syllabi Video lectures Proliferation of mathematics in economics, growing sophistication of investors, and rising competition in the industry requires advanced training of investment professionals. Portfolio Management provides expert guidance to this increasingly complex field, covering the important advancements in theory and intricacies of practice.

The Investment Advisor Body of Knowledge + Test Bank

Author : IMCA
Publisher : John Wiley & Sons
ISBN 13 : 1118912322
Total Pages : 1155 pages
Book Rating : 4.1/5 (189 download)

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Book Synopsis The Investment Advisor Body of Knowledge + Test Bank by : IMCA

Download or read book The Investment Advisor Body of Knowledge + Test Bank written by IMCA and published by John Wiley & Sons. This book was released on 2015-03-16 with total page 1155 pages. Available in PDF, EPUB and Kindle. Book excerpt: The complete body of knowledge for CIMA candidates and professionals The 2015 Certified Investment Management Analyst Body of Knowledge + Test Bank will help any financial advisor prepare for and pass the CIMA exam, and includes key information and preparation for those preparing to take the test. CIMA professionals integrate a complex body of investment knowledge, ethically contributing to prudent investment decisions by providing objective advice and guidance to individual and institutional investors. The CIMA certification program is the only credential designed specifically for financial professionals who want to attain a level of competency as an advanced investment consultant. Having the CIMA designation has led to more satisfied careers, better compensation, and management of more assets for higher-net-worth clients than other advisors. The book is laid out based on the six domains covered on the exam: I. Governance II. Fundamentals (statistics, finance, economics) III. Portfolio Performance and Risk Measurements IV. Traditional and Alternative Investments V. Portfolio Theory and Behavioral Finance VI. Investment Consulting Process

Interest Rate Models, Asset Allocation and Quantitative Techniques for Central Banks and Sovereign Wealth Funds

Author : A. Berkelaar
Publisher : Springer
ISBN 13 : 0230251293
Total Pages : 401 pages
Book Rating : 4.2/5 (32 download)

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Book Synopsis Interest Rate Models, Asset Allocation and Quantitative Techniques for Central Banks and Sovereign Wealth Funds by : A. Berkelaar

Download or read book Interest Rate Models, Asset Allocation and Quantitative Techniques for Central Banks and Sovereign Wealth Funds written by A. Berkelaar and published by Springer. This book was released on 2009-11-30 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume contains essential readings for financial analysts and market practitioners working at Central Banks and Sovereign Wealth Funds. It presents the reader with state-of-the-art methods that are directly implementable, and industry 'best-practices' as followed by leading institutions in their field.

Hedge Funds

Author : François-Serge Lhabitant
Publisher : John Wiley & Sons
ISBN 13 : 0470687770
Total Pages : 573 pages
Book Rating : 4.4/5 (76 download)

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Book Synopsis Hedge Funds by : François-Serge Lhabitant

Download or read book Hedge Funds written by François-Serge Lhabitant and published by John Wiley & Sons. This book was released on 2009-08-20 with total page 573 pages. Available in PDF, EPUB and Kindle. Book excerpt: "An excellent and comprehensive source of information on hedge funds! From a quantitative view Lhabitant has done it once again by meticulously looking at the important topics in the hedge fund industry. This book has a tremendous wealth of information and is a valuable addition to the hedge fund literature. In addition, it will benefit institutional investors, high net worth individuals, academics and anyone interested in learning more about this fascinating and often mysterious world of privately managed money. Written by one of the most respected practitioners and academics in the area of hedge funds." —Greg N. Gregoriou, Professor of finance and research coordinator in the School of Business and Economics at Plattsburgh State University of New York "This is a landmark book on quantitative approaches to hedge funds. All those with a stake in building hedge fund portfolios will highly profit from this exhaustive guide. A must read for all those involved in hedge fund investing." —Pascal Botteron, Ph.D., Head of Hedge Fund Product Development, Pictet Asset Management "François-Serge Lhabitant's second book will prove to be a bestseller too - just like Hedge Funds: Myths and Limits. He actually manages to make quantitative analysis 'approachable'- even for those less gifted with numbers. This book, like its predecessor, includes an unprecedented mix of common sense and sophisticated technique. A fantastic guide to the 'nuts and bolts' of hedge fund analysis and a 'must' for every serious investor." —Barbara Rupf Bee, Head of Alternative Fund Investment Group, HSBC Private Bank, Switzerland "An excellent book, providing deep insights into the complex quantitative analysis of hedge funds in the most lucid and intuitive manner. A must-have supplement to Lhabitant's first book dealing with the mystical and fascinating world of hedge funds. Highly recommended!" —Vikas Agarwal, Assistant Professor of Finance, J. Mack Robinson College of Business, Georgia State University "Lhabitant has done it again! Whereas most books on hedge funds are nothing more than glorified marketing brochures, Lhabitant's new book tells it how it is in reality. Accessible and understandable but at the same time thorough and critical." —Harry M. Kat, Ph.D., Professor of Risk Management and Director Alternative Investment Research Centre, Cass Business School, City University "Lhabitant's latest work on hedge funds yet again delivers on some ambitious promises. Successfully bridging theory and practice in a highly accessible manner, those searching for a thorough yet unintimidating introduction to the quantitative methods of hedge fund analysis will not be disappointed." —Christopher L. Culp, Ph.D., Adjunct Professor of Finance, Graduate School of Business, The University of Chicago and Principal, Chicago Partners LLC

Investment Analysis & Portfolio Management

Author : Frank K. Reilly
Publisher : Cengage AU
ISBN 13 : 0170416038
Total Pages : 1062 pages
Book Rating : 4.1/5 (74 download)

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Book Synopsis Investment Analysis & Portfolio Management by : Frank K. Reilly

Download or read book Investment Analysis & Portfolio Management written by Frank K. Reilly and published by Cengage AU. This book was released on 2019-11-19 with total page 1062 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first Asia-Pacific edition of Reilly/Brown’s Investment Analysis and Portfolio Management builds on the authors’ strong reputations for combining solid theory with practical application and has been developed especially for courses across the Australia, New Zealand, and Asia-Pacific regions. The real-world illustrations and hands-on activities enhance an already rigourous, empirical approach to topics such as investment instruments, capital markets, behavioural finance, hedge funds, and international investment. The text also emphasises how investment practice and theory are influenced by globalisation.