The analysis of portfolio management performance: an institutional guide to assessing and analyzing pension fund, endowment, foundation, and trust investment performance
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
New York [u.a.]
McGraw-Hill
1997
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XII, 276 S. graph. Darst. |
| ISBN: | 0786308001 |
Internformat
MARC
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| 100 | 1 | |a Haight, G. Timothy |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a The analysis of portfolio management performance |b an institutional guide to assessing and analyzing pension fund, endowment, foundation, and trust investment performance |c G. Timothy Haight ; Stephen O. Morrell |
| 264 | 1 | |a New York [u.a.] |b McGraw-Hill |c 1997 | |
| 300 | |a XII, 276 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 650 | 4 | |a Charitable uses, trusts, and foundations | |
| 650 | 4 | |a Endowments |x Management | |
| 650 | 4 | |a Investment analysis | |
| 650 | 4 | |a Pension trusts |x Management | |
| 650 | 4 | |a Portfolio management | |
| 650 | 4 | |a Trusts and trustees | |
| 650 | 0 | 7 | |a Portfoliomanagement |0 (DE-588)4115601-8 |2 gnd |9 rswk-swf |
| 689 | 0 | 0 | |a Portfoliomanagement |0 (DE-588)4115601-8 |D s |
| 689 | 0 | |5 DE-604 | |
| 700 | 1 | |a Morrell, Stephen O. |e Verfasser |4 aut | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007809427&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-007809427 | ||
Datensatz im Suchindex
| _version_ | 1804126122492821504 |
|---|---|
| adam_text | Brief Contents 1 Investment Sponsors 1
2 Investment Policy Statement 29
3 Investment Overview 65
4 Alternative Investment Vehicles 85
5 Return Measures 105
6 Return / Risk Measurement 127
7 Portfolio Performance Overview 149
8 Equity Performance Evaluation 173
9 Fixed Income Performance Evaluation 195
10 Mutual Funds as an Investment Vehicle 223
11 Searching for an Investment Manager 237
12 Conducting Investment Committee Meetings 263
INDEX 272
iv
Contents
Chapter 1
Investment Sponsors 1
Introduction 1
Investment Oversight Responsibilities 2
Committee Composition 2
Tax Considerations 4
Tax Exempt Organizations 4
Private Foundations and Charitable Trusts 7
Qualified Retirement Plans 9
Taxable Investment Sponsors 22
Trusts 23
Corporations 24
Partnerships 25
Individuals 26
Chapter 2
Investment Policy Statement 29
Introduction 29
Investment Philosophy and Goals 30
Investment Return Objectives 30
Risk Tolerances 31
Constraints 31
Investment Strategy 32
In House or Outside Management 32
Investment Policy 33
Security Types and Risk Characteristics 33
Equities 33
Fixed Income Securities 35
Cash and Equivalents 36
Asset Allocation Guidelines 37
Evaluation of Performance 40
vi Contents
Using Indexes as an Evaluation Tool 40
Using Universes as an Evaluation Tool 52
Periodic Review 52
Chapter 3
Investment Overview 65
Introduction 65
Capital Appreciation versus Current Income 66
Active versus Passive Investment Approaches 67
Investment Styles Equity Managers 68
Capitalization 69
Growth 71
Value 72
Cyclical 74
Market 76
Sector 76
Contrarian 78
International invesWtg 78
Fixed Income Managers Approaches 81
Quality Considerations 81
Maturity Considerations 82
Chapter 4
Alternative Investment Vehicles 85
Introduction 85
j Hybrid Securities 86
Convertible Securities 86
Warrants 88
Derivative Contracts 89
Uses of Derivative Contracts 90
Types of Derivative Contracts 91
Real Estate Investment Vehicles 92
Contents v
International Investment Vehicles 94
Commodities and Collectibles 101
Chapter 5
Return Measures 105
Introduction 105
Dollar Weighted Rate of Return 106
Impact of Cash Withdrawals on Return 107
Impact of Cash Contributions on Return 109
Unit Rate of Return 110
Annualized Rates of Return 112
Arithmetic and Geometric Return Averages 113
Total Return and Its Components 115
Tax Considerations 117
Nominal versus Real Rates of Return 118
Dividend Reinvestment 120
Compound Growth 121
Gross versus Net of Fees 122
Chapter 6
Return/Risk Measurement 127
Introduction 127
Return Relative 128
Standard Deviation 128
Portfolio Risk Measure 133
Scatter Diagram 138
Coefficient of Variation 140
Regression Analysis 140
Portfolio Size and Diversification Levels 143
Regression Analysis of Fund I 144
Additional Performance Measures 146
viii Contents
Chapter 7
Portfolio Performance Overview 149
Introduction 149
Performance Results 150
Composite Index 151
Universe Comparison 151
Return / Risk Analysis 155
Evaluating the Asset Allocation Decision 158
Portfolio Decomposition Analysis 164
Evaluation of Cash and Equivalent Component 166
Chapter 8
Equity Performance Evaluation 173
Introduction 173
Equity Performance Criteria 174
Sector Analysis 176
Return / Risk Comparison 180
Market Characteristics 182
Additional Performance Measures 186
Attribute Analysis 189
Chapter 9
Fixed Income Performance Evaluation 195
Introduction 195
Issuers of Fixed Income Securities 195
Quality of Fixed Income Securities 196
Credit Risk 198
Interest Rate Risk 201
Duration 203
Convexity 206
Maturity Distribution 208
Return Analysis 208
Contents i.
AIMR Standards 212
Fixed Income Management Styles 213
Passive Fixed Income Management 213
Active Fixed Income Management 215
Fixed Income Evaluation 217
Chapter 10
Mutual Funds as an Investment Vehicle 223
Introduction 223
Investment Companies 224
Features of Mutual Funds 225
Advantages of Mutual Funds 227
Selecting Mutual Funds 228
Mutual Fund Risk 230
Evaluating Mutual Fund Performance 232
Chapter 11
Searching for an Investment Manager 237
Introduction 237
The Search Committee 238
Establishing Goals 238
The Number of Managers 239
Candidate Identification 241
Management and Related Fees 243
Firm Size and Ownership 245
Requests for Proposals 246
Screening the Candidates 254
Candidate Presentations 256
Verification and Checking of Reference 258
The Final Selection 260
Switching Managers 260
Administration of Change 261
x Contents
Chapter 12
Conducting Investment Committee Meetings 263
Introduction 263
Meeting Preparation 263
Agenda and Meeting Materials 265
Setting the Agenda 265
Responsibilities of the Chair 267
Investment Consulting Services 267
Old Business 270
New Business 270
INDEX 272
j
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| discipline | Wirtschaftswissenschaften |
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| illustrated | Illustrated |
| indexdate | 2024-07-09T18:12:26Z |
| institution | BVB |
| isbn | 0786308001 |
| language | English |
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| physical | XII, 276 S. graph. Darst. |
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| spelling | Haight, G. Timothy Verfasser aut The analysis of portfolio management performance an institutional guide to assessing and analyzing pension fund, endowment, foundation, and trust investment performance G. Timothy Haight ; Stephen O. Morrell New York [u.a.] McGraw-Hill 1997 XII, 276 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Charitable uses, trusts, and foundations Endowments Management Investment analysis Pension trusts Management Portfolio management Trusts and trustees Portfoliomanagement (DE-588)4115601-8 gnd rswk-swf Portfoliomanagement (DE-588)4115601-8 s DE-604 Morrell, Stephen O. Verfasser aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007809427&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Haight, G. Timothy Morrell, Stephen O. The analysis of portfolio management performance an institutional guide to assessing and analyzing pension fund, endowment, foundation, and trust investment performance Charitable uses, trusts, and foundations Endowments Management Investment analysis Pension trusts Management Portfolio management Trusts and trustees Portfoliomanagement (DE-588)4115601-8 gnd |
| subject_GND | (DE-588)4115601-8 |
| title | The analysis of portfolio management performance an institutional guide to assessing and analyzing pension fund, endowment, foundation, and trust investment performance |
| title_auth | The analysis of portfolio management performance an institutional guide to assessing and analyzing pension fund, endowment, foundation, and trust investment performance |
| title_exact_search | The analysis of portfolio management performance an institutional guide to assessing and analyzing pension fund, endowment, foundation, and trust investment performance |
| title_full | The analysis of portfolio management performance an institutional guide to assessing and analyzing pension fund, endowment, foundation, and trust investment performance G. Timothy Haight ; Stephen O. Morrell |
| title_fullStr | The analysis of portfolio management performance an institutional guide to assessing and analyzing pension fund, endowment, foundation, and trust investment performance G. Timothy Haight ; Stephen O. Morrell |
| title_full_unstemmed | The analysis of portfolio management performance an institutional guide to assessing and analyzing pension fund, endowment, foundation, and trust investment performance G. Timothy Haight ; Stephen O. Morrell |
| title_short | The analysis of portfolio management performance |
| title_sort | the analysis of portfolio management performance an institutional guide to assessing and analyzing pension fund endowment foundation and trust investment performance |
| title_sub | an institutional guide to assessing and analyzing pension fund, endowment, foundation, and trust investment performance |
| topic | Charitable uses, trusts, and foundations Endowments Management Investment analysis Pension trusts Management Portfolio management Trusts and trustees Portfoliomanagement (DE-588)4115601-8 gnd |
| topic_facet | Charitable uses, trusts, and foundations Endowments Management Investment analysis Pension trusts Management Portfolio management Trusts and trustees Portfoliomanagement |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007809427&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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