Investment performance measurement:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge
Woodhead
1996
|
| Edition: | 1. publ. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XIII, 202 S. graph. Darst. |
| ISBN: | 1855731959 1855733390 |
Staff View
MARC
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| 100 | 1 | |a Bain, William G. |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Investment performance measurement |c William G. Bain |
| 250 | |a 1. publ. | ||
| 264 | 1 | |a Cambridge |b Woodhead |c 1996 | |
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| 650 | 7 | |a INVESTMENT ANALYSIS |2 unbist | |
| 650 | 7 | |a INVESTMENT RETURNS |2 unbist | |
| 650 | 7 | |a INVESTMENTS |2 unbist | |
| 650 | 7 | |a Investeringen |2 gtt | |
| 650 | 7 | |a PERFORMANCE STANDARDS |2 unbist | |
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Record in the Search Index
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| adam_text | Contents
Foreword by Philip Lambert ix
Preface xi
Acknowledgements xiii
Section One: What is performance measurement? 1
1 History of performance measurement 3
Introduction 3 Early development in the USA 3 Development in
the UK 6 Risk 8 Growth of peer group data 8 The issues 9
9 The benchmarks 11
Introduction 11 Early index development 11 Performance measurement
benchmarks 12 Sector and size analysis 15 The growth of international
investment 15 Customised benchmark indices 20 Bond market and other
indices 21 International bond indices 24 Other assets 30 Fund
benchmarks 30 Universe benchmarks 32 The issues 33
Q Performance analysis 35
Introduction 35 The approach to rate of return and risk 36 The issues 48
A Management control 50
Introduction 50 Fund management promotion 50 Managing the
managers 51 The issues 53
Section Two: How to measure performance 55
£jl The basic calculations 57
Introduction 57 Money weighted and time weighted returns 57
Attribution analysis 65 The currency effect 67 Recent developments 71
Further issues to be considered 74 Conclusion 77 The issues 78
v
CONTENTS
R Practicalities of data collection 79
Introduction 79 Benchmark data: prices 79 Benchmark data: exchange I
rates 82 Benchmark data: company data 83 Fund data: prices 84 j
Fund data: income 86 Fund data: derivatives 86 The issues 86
7 Performance standards 88
Introduction 88 Technical standards 88 Commercial standards 91
The issues 95
3 Risk 96
Introduction 96 Early development in the USA 97 Risk adjusted
returns 101 Limitations of risk values 104 Multi dimensional
models 105 Developments in the UK 107 Other aspects of risk 111
The issues 112
Section Three: The results 115
Q Evidence of universe results 117
Introduction 117 UK experience since 1975 118 UK pension fund
universe 121 Changing asset mix 126 The issues 128
10 ^le nvestment management process 130
Introduction 130 Management selection risk 131 International
diversification 135 Indexation 136 The issues 138
^ i International differences 140
Introduction 140 Pension funds in Europe 140 The Netherlands
experience 142 The US experience 146 Conclusion 149 The issues 149
|2 Myths and misunderstandings 150
Introduction 150 Asset class returns 151 Small funds outperform large
funds 151 Fast growth leads to better performance 152 Local
management is better than foreign based management 153
Combining overseas with domestic equities raises returns and reduces
risk 156 Superior investment returns are sustainable 159 The issues 160
vi
CONTENTS
Section Four: The future 163
|Q More detailed analysis 165
Introduction 165 Stock level transaction data 165 New investment
instruments 172 The issues 174
|4 Customised benchmarks 175
Introduction 175 Index benchmarks 175 Style and factor indices 176
Fund specific benchmarks 179 Conclusion 180 The issues 180
1R The international dimension 182
Introduction 182 International standards 182 International status of
performance measurement 184 The issues 185
Appendix 1 Index formulae 186
Appendix 2 Extract from Eadie 189
Appendix 3 Extract from Ryder and McLeod 195
Index 200
vii
|
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| id | DE-604.BV011427332 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T18:09:34Z |
| institution | BVB |
| isbn | 1855731959 1855733390 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-007683791 |
| oclc_num | 36239219 |
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| physical | XIII, 202 S. graph. Darst. |
| publishDate | 1996 |
| publishDateSearch | 1996 |
| publishDateSort | 1996 |
| publisher | Woodhead |
| record_format | marc |
| spelling | Bain, William G. Verfasser aut Investment performance measurement William G. Bain 1. publ. Cambridge Woodhead 1996 XIII, 202 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier INVESTMENT ANALYSIS unbist INVESTMENT RETURNS unbist INVESTMENTS unbist Investeringen gtt PERFORMANCE STANDARDS unbist Portfolio-analyse gtt Investment analysis United States Portfolio management United States Portfoliomanagement (DE-588)4115601-8 gnd rswk-swf USA Portfoliomanagement (DE-588)4115601-8 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007683791&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Bain, William G. Investment performance measurement INVESTMENT ANALYSIS unbist INVESTMENT RETURNS unbist INVESTMENTS unbist Investeringen gtt PERFORMANCE STANDARDS unbist Portfolio-analyse gtt Investment analysis United States Portfolio management United States Portfoliomanagement (DE-588)4115601-8 gnd |
| subject_GND | (DE-588)4115601-8 |
| title | Investment performance measurement |
| title_auth | Investment performance measurement |
| title_exact_search | Investment performance measurement |
| title_full | Investment performance measurement William G. Bain |
| title_fullStr | Investment performance measurement William G. Bain |
| title_full_unstemmed | Investment performance measurement William G. Bain |
| title_short | Investment performance measurement |
| title_sort | investment performance measurement |
| topic | INVESTMENT ANALYSIS unbist INVESTMENT RETURNS unbist INVESTMENTS unbist Investeringen gtt PERFORMANCE STANDARDS unbist Portfolio-analyse gtt Investment analysis United States Portfolio management United States Portfoliomanagement (DE-588)4115601-8 gnd |
| topic_facet | INVESTMENT ANALYSIS INVESTMENT RETURNS INVESTMENTS Investeringen PERFORMANCE STANDARDS Portfolio-analyse Investment analysis United States Portfolio management United States Portfoliomanagement USA |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007683791&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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