{"product_id":"how-to-select-investment-managers-and-evaluate-performance-a-guide-for-pension-funds-endowments-foundations-and-trusts-hardback-9780470042557","title":"How to Select Investment Managers and Evaluate Performance; A Guide for Pension Funds, Endowments, Foundations, and Trusts (Hardback) 9780470042557","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eHow to Select Investment Managers and Evaluate Performance\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eA Guide for Pension Funds, Endowments, Foundations, and Trusts\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eG. Timothy Haight (Author), Glenn Ross (Author), Stephen O. Morrell (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780470042557, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 6 November 2007\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e272 pages\u003cbr\u003e23.6 x 16.1 x 2.8 cm, 0.455 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e\"These guys know how to check their facts.\"  (\u003ci\u003eAlbourne Village - village.albourne.com\u003c\/i\u003e, Tuesday 22nd January 2008)  \u003cp\u003e\"...this useful guide for professionals is timely.\"  (\u003ci\u003ePensions World\u003c\/i\u003e, Ferbruary 2008)\u003c\/p\u003e\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eAn informative guide to selecting and evaluating external investment professionals\u003cbr\u003e \u003cbr\u003e This book-one of the very few of its kind-is an invaluable aid to trustees of pension plans, endowments, and trusts who seek to chart and navigate courses for governing and overseeing the investment of the trillions of dollars under their care. It covers many aspects of this essential endeavor, including return measures, fixed income and duration, manager searches, committee meetings, and much more.\u003cbr\u003e \u003cbr\u003e G. Timothy Haight (Atherton, CA) is President of Menlo College in Silicon Valley. Stephen O. Morrell, PhD (Coral Springs, FL) is Professor at Andreas School of Business of Barry University. Glenn Ross (Baltimore, MD) is a Managing Director and cofounder of Archstone Portfolio Solutions.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e\u003cp\u003e\u003cbr\u003ePreface ix\u003c\/p\u003e \u003cp\u003eAbout the Authors xi\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 Investment Sponsors 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Investment Committee 4\u003c\/p\u003e \u003cp\u003eThe Variety of Investment Sponsors 7\u003c\/p\u003e \u003cp\u003eTaxable Investment Sponsors 24\u003c\/p\u003e \u003cp\u003eSummary 29\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Investment Policy Statement 31\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInvestment Philosophy and Goals 31\u003c\/p\u003e \u003cp\u003eInvestment Return Objectives 32\u003c\/p\u003e \u003cp\u003eRisk Tolerances 32\u003c\/p\u003e \u003cp\u003eConstraints 33\u003c\/p\u003e \u003cp\u003eInvestment Strategy 33\u003c\/p\u003e \u003cp\u003eIn-House or Outside Manager 34\u003c\/p\u003e \u003cp\u003eInvestment Policy 34\u003c\/p\u003e \u003cp\u003eSecurities Types and Risk Characteristics 35\u003c\/p\u003e \u003cp\u003eAsset Allocation Guidelines 39\u003c\/p\u003e \u003cp\u003eEvaluation of Performance 41\u003c\/p\u003e \u003cp\u003eBenchmark Portfolios 51\u003c\/p\u003e \u003cp\u003ePeriodic Review 52\u003c\/p\u003e \u003cp\u003eSummary 53\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Investment Overview 55\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCapital Appreciation versus Current Income 55\u003c\/p\u003e \u003cp\u003eActive versus Passive Investment Approaches 57\u003c\/p\u003e \u003cp\u003eInvestment Styles-Equity Managers 57\u003c\/p\u003e \u003cp\u003eInternational Investing 65\u003c\/p\u003e \u003cp\u003eInvestment Styles-Fixed Income Managers 65\u003c\/p\u003e \u003cp\u003eSummary 68\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 Alternative Investment Vehicles 71\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHybrid Securities 72\u003c\/p\u003e \u003cp\u003eDerivative Contracts 75\u003c\/p\u003e \u003cp\u003eInternational Investment Vehicles 81\u003c\/p\u003e \u003cp\u003eReal Estate Investment Vehicles 91\u003c\/p\u003e \u003cp\u003eInvestment Vehicles for Accredited Investors 93\u003c\/p\u003e \u003cp\u003eCommodities and Collectibles 102\u003c\/p\u003e \u003cp\u003eSummary 104\u003cbr\u003e\u003cbr\u003e\u003cb\u003eChapter 5 Return Measures and Reporting Techniques 105\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDollar-Weighted Rate of Return 105\u003c\/p\u003e \u003cp\u003eTime-Weighted Rate of Return 108\u003c\/p\u003e \u003cp\u003eAnnualized Rates of Return 110\u003c\/p\u003e \u003cp\u003eGeometric Mean 111\u003c\/p\u003e \u003cp\u003eTotal Return and its Components 112\u003c\/p\u003e \u003cp\u003eCompound Growth 115\u003c\/p\u003e \u003cp\u003eSummary 118\u003cbr\u003e\u003cbr\u003e\u003cb\u003eChapter 6 Return-Risk Measurement 119\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReturn Relative 119\u003c\/p\u003e \u003cp\u003eStandard Deviation 121\u003c\/p\u003e \u003cp\u003ePortfolio Risk Measure 124\u003c\/p\u003e \u003cp\u003eScatter Diagram 127\u003c\/p\u003e \u003cp\u003eCoefficient of Variation 128\u003c\/p\u003e \u003cp\u003eRegression Analysis 129\u003c\/p\u003e \u003cp\u003ePortfolio Size and Diversification Levels 131\u003c\/p\u003e \u003cp\u003eRegression Analysis of Fund I 132\u003c\/p\u003e \u003cp\u003eAdditional Performance Indexes 133\u003c\/p\u003e \u003cp\u003eSummary 134\u003cbr\u003e\u003cbr\u003e\u003cb\u003eChapter 7 Portfolio Performance Evaluation 137\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePerformance Results 138\u003c\/p\u003e \u003cp\u003eComposite Index 139\u003c\/p\u003e \u003cp\u003eReturn Risk Analysis 140\u003c\/p\u003e \u003cp\u003eUniverse Comparison 141\u003c\/p\u003e \u003cp\u003eEvaluating the Asset Allocation Decision 143\u003c\/p\u003e \u003cp\u003eSummary 155\u003cbr\u003e\u003cbr\u003e\u003cb\u003eChapter 8 Equity Performance Evaluation 157\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEquity Performance Criteria 158\u003c\/p\u003e \u003cp\u003eSector Analysis 159\u003c\/p\u003e \u003cp\u003eReturn-Risk Comparison 163\u003c\/p\u003e \u003cp\u003eMarket Characteristics 164\u003c\/p\u003e \u003cp\u003eAttribution Analysis 169\u003c\/p\u003e \u003cp\u003eSummary 171\u003cbr\u003e\u003cbr\u003e\u003cb\u003eChapter 9 Fixed Income Performance Evaluation 173\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAsset Allocation Ranges and Anticipated Contributions 174\u003c\/p\u003e \u003cp\u003eIssuers of Fixed Income Securities 174\u003c\/p\u003e \u003cp\u003eBond Indexes 176\u003c\/p\u003e \u003cp\u003eBond Prices and Yields 177\u003c\/p\u003e \u003cp\u003eTerm Structure of Interest Rates 180\u003c\/p\u003e \u003cp\u003eQuality of Fixed Income Securities 181\u003c\/p\u003e \u003cp\u003eCredit Risk 181\u003c\/p\u003e \u003cp\u003eInterest Rate Risk 184\u003c\/p\u003e \u003cp\u003eDuration 186\u003c\/p\u003e \u003cp\u003eConvexity 189\u003c\/p\u003e \u003cp\u003eMaturity Characteristics 191\u003c\/p\u003e \u003cp\u003eReturn Analysis 191\u003c\/p\u003e \u003cp\u003eCFA Institute Standards 195\u003c\/p\u003e \u003cp\u003eFixed Income Management Styles 196\u003c\/p\u003e \u003cp\u003ePassive Fixed Income Management 196\u003c\/p\u003e \u003cp\u003eActive Fixed Income Management 198\u003c\/p\u003e \u003cp\u003ePerformance Analysis 199\u003c\/p\u003e \u003cp\u003eSummary 202\u003cbr\u003e\u003cbr\u003e\u003cb\u003eCHAPTER 10 Investment Companies as Investment Vehicles 203\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInvestment Companies 205\u003c\/p\u003e \u003cp\u003eRegulation of Investment Companies 207\u003c\/p\u003e \u003cp\u003eTypes of Investment Companies 208\u003c\/p\u003e \u003cp\u003eSelecting Mutual Funds 215\u003c\/p\u003e \u003cp\u003ePerformance Evaluation 216\u003c\/p\u003e \u003cp\u003eSummary 217\u003cbr\u003e\u003cbr\u003e\u003cb\u003eChapter 11 Investment Manager Search Process 219\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSearch Committee 219\u003c\/p\u003e \u003cp\u003eEstablishing Goals 220\u003c\/p\u003e \u003cp\u003eNumber of Managers 220\u003c\/p\u003e \u003cp\u003eCandidate Identification 222\u003c\/p\u003e \u003cp\u003eManagement and Related Fees 223\u003c\/p\u003e \u003cp\u003eFirm Size and Ownership 225\u003c\/p\u003e \u003cp\u003eRequest for Proposals (RFP) 225\u003c\/p\u003e \u003cp\u003eScreening of Candidates 230\u003c\/p\u003e \u003cp\u003eCandidates Presentations 234\u003c\/p\u003e \u003cp\u003eVerification and Reference Checking 236\u003c\/p\u003e \u003cp\u003eCost of Switching 239\u003c\/p\u003e \u003cp\u003eAdministration of Change 240\u003c\/p\u003e \u003cp\u003eSummary 240\u003cbr\u003e\u003cbr\u003e\u003cb\u003eChapter 12 Conducting Investment Committee Meetings 243\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMeeting Preparations 243\u003c\/p\u003e \u003cp\u003eAgenda and Meeting Materials 245\u003c\/p\u003e \u003cp\u003eSetting the Agenda 245\u003c\/p\u003e \u003cp\u003eResponsibilities of the Chairperson 246\u003c\/p\u003e \u003cp\u003eInvestment Consulting Services 246\u003c\/p\u003e \u003cp\u003eInvestment Performance Review and Outlook 247\u003c\/p\u003e \u003cp\u003eOld Business 250\u003c\/p\u003e \u003cp\u003eNew Business 251\u003c\/p\u003e \u003cp\u003eSummary 251\u003c\/p\u003e \u003cp\u003eIndex 809\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Finance \u0026amp; accounting [\u003ca title=\"See our other books on Finance \u0026amp; accounting\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Finance%20\u0026amp;%20accounting%20%5BKF%5D%22\"\u003eKF\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley","offers":[{"title":"Brand New","offer_id":52173816496408,"sku":"9780470042557","price":41.27,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9780470042557.jpg?v=1781173311","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/how-to-select-investment-managers-and-evaluate-performance-a-guide-for-pension-funds-endowments-foundations-and-trusts-hardback-9780470042557","provider":"Freshly Printed Books","version":"1.0","type":"link"}