{"product_id":"an-introduction-to-fund-management-isbn-9780470017708","title":"An Introduction to Fund Management","description":"\u003ci\u003eAn Introduction to Fund Management\u003c\/i\u003e introduces readers to the economic rationale for the existence of funds, the different types available, investment strategies and many other related issues from the perspective of the investment manager. It gives an overview of the whole business and explores the process and techniques of fund management, performance measurement and fund administration. This updated edition reflects new regulatory changes and industry developments. \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eAbout the author xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 INTRODUCTION 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEconomic background 3\u003c\/p\u003e \u003cp\u003e‘Money makes the world go round’ 4\u003c\/p\u003e \u003cp\u003e‘Money doesn’t grow on trees’ 5\u003c\/p\u003e \u003cp\u003eRisks and rewards 6\u003c\/p\u003e \u003cp\u003eConsiderations 9\u003c\/p\u003e \u003cp\u003eMarkets 10\u003c\/p\u003e \u003cp\u003eInvestment instruments 11\u003c\/p\u003e \u003cp\u003e‘Neither a borrower nor a lender be’ 12\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 ROLE OF FUNDS 13\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefinitions 14\u003c\/p\u003e \u003cp\u003eInvestment businesses 15\u003c\/p\u003e \u003cp\u003eTypes of fund 16\u003c\/p\u003e \u003cp\u003eOpen-ended and closed-ended funds 23\u003c\/p\u003e \u003cp\u003eUses of funds 24\u003c\/p\u003e \u003cp\u003eAssociated packaging 25\u003c\/p\u003e \u003cp\u003eFeatures and characteristics 25\u003c\/p\u003e \u003cp\u003ePurpose, providers and players 25\u003c\/p\u003e \u003cp\u003eCosts, benefits and comparisons 27\u003c\/p\u003e \u003cp\u003eHow to invest 31\u003c\/p\u003e \u003cp\u003eSales, marketing and disclosure 31\u003c\/p\u003e \u003cp\u003eCategories, sectors and statistics 32\u003c\/p\u003e \u003cp\u003eInvestor protection 33\u003c\/p\u003e \u003cp\u003e‘Be it enacted by the Queen’s most Excellent Majesty . . .’ 33\u003c\/p\u003e \u003cp\u003eRegulation in practice 42\u003c\/p\u003e \u003cp\u003eEstablishing a fund 47\u003c\/p\u003e \u003cp\u003eWho wants one and why? 47\u003c\/p\u003e \u003cp\u003eOptions and approaches 48\u003c\/p\u003e \u003cp\u003eDocuments and authorisations 50\u003c\/p\u003e \u003cp\u003eLaunching the fund 51\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 PORTFOLIO MANAGEMENT 53\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStrategies, styles, objectives and policies 54\u003c\/p\u003e \u003cp\u003eMeeting investors’ requirements 56\u003c\/p\u003e \u003cp\u003eRisks to be managed 57\u003c\/p\u003e \u003cp\u003eHedging 59\u003c\/p\u003e \u003cp\u003e‘Please don’t ask for credit . . .’ 62\u003c\/p\u003e \u003cp\u003e‘You can’t do that!’ 63\u003c\/p\u003e \u003cp\u003eAsset allocation versus stock selection 65\u003c\/p\u003e \u003cp\u003eChoosing the investments 66\u003c\/p\u003e \u003cp\u003e‘First, pick your markets’ 66\u003c\/p\u003e \u003cp\u003ePortfolio weightings and profiles 68\u003c\/p\u003e \u003cp\u003eIncome and growth 69\u003c\/p\u003e \u003cp\u003eLiquidity 70\u003c\/p\u003e \u003cp\u003eEvaluating alternatives 71\u003c\/p\u003e \u003cp\u003eData, ratios and measurements 75\u003c\/p\u003e \u003cp\u003eDealing with events 78\u003c\/p\u003e \u003cp\u003eNews and announcements 79\u003c\/p\u003e \u003cp\u003eNew issues and underwriting 81\u003c\/p\u003e \u003cp\u003eRights, splits and scrip 83\u003c\/p\u003e \u003cp\u003eBreaches of regulations 85\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 PORTFOLIO ADMINISTRATION 87\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e‘Day by day in every way . . .’ 88\u003c\/p\u003e \u003cp\u003eBuying and selling 88\u003c\/p\u003e \u003cp\u003eDelivery and settlement 89\u003c\/p\u003e \u003cp\u003eRegistration 89\u003c\/p\u003e \u003cp\u003eCustody 91\u003c\/p\u003e \u003cp\u003eUse of nominees 91\u003c\/p\u003e \u003cp\u003eStock exchange reporting 93\u003c\/p\u003e \u003cp\u003eRecords and regulations 93\u003c\/p\u003e \u003cp\u003ePortfolio accounting and controls 94\u003c\/p\u003e \u003cp\u003eProfits, income and taxation 96\u003c\/p\u003e \u003cp\u003eValuation and pricing 98\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 INVESTOR ADMINISTRATION 103\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAgents, agreements and delegation 104\u003c\/p\u003e \u003cp\u003eInvestor transactions 105\u003c\/p\u003e \u003cp\u003eRegistration 108\u003c\/p\u003e \u003cp\u003eCommunicating with investors 109\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 PERFORMANCE MEASUREMENT 115\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSector comparisons – ‘my fund is better than your fund’ 116\u003c\/p\u003e \u003cp\u003eYields and returns 119\u003c\/p\u003e \u003cp\u003eTime- and money-weighted returns 123\u003c\/p\u003e \u003cp\u003eIndices and benchmarking 127\u003c\/p\u003e \u003cp\u003eVolatility and risk adjustments 130\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 INVESTMENT MATHEMATICS 133\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe arithmetic of indices 134\u003c\/p\u003e \u003cp\u003eStandard deviation 137\u003c\/p\u003e \u003cp\u003eCapital Asset Pricing Model 139\u003c\/p\u003e \u003cp\u003eGlossary 147\u003c\/p\u003e \u003cp\u003eList of abbreviations 155\u003c\/p\u003e \u003cp\u003eIndex 157\u003c\/p\u003e \u003cb\u003eRay Russell\u003c\/b\u003e has been a consultant and trainer within the financial services industry since 1988.  Prior to this he spent 25 years in investment banking.  Operating as GCR Management Services he has served as a director of a fund management firm for 10 years and has developed introductory training for the SII and fund management firms in the UK and Ireland.  He also created a week long course for the compliance Institute.  This guide is derived from the author’s notes for the two-day course of the same name that he presents for the Securities and Investment Institute.  \u003cp\u003eIt is neither a transcript of the course, nor a fully comprehensive work of reference. Rather, it is intended as an introductory text for those new to or unfamiliar with investments and asset management. It provides a broad and practical description of investment funds and fund management from a number of perspectives and aims to stimulate further, more detailed study.\u003c\/p\u003e \u003cp\u003eStarting with the general economic background and rationale for the existence of funds, it moves through a description of the features and characteristics of different types of funds, and the associated regulatory and investor protection mechanisms, to the process of establishing a fund.\u003c\/p\u003e \u003cp\u003eIt then addresses the topic from the perspective of the portfolio manager, by providing an overview of the principal investment strategies and styles deployed in the construction of portfolios, and of their administration, before covering investor administration and, finally, the mathematics and methods of performance measurement.\u003c\/p\u003e \u003cp\u003eYour own understanding of fund management after reading this guide will depend upon your interest and aspirations, your appetite for and approach to learning, and, of course, your expectations of the guide, which, please note, is an introduction to the subject; it will not make you an expert!\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988726235365,"sku":"NP9780470017708","price":50.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470017708.jpg?v=1761781347","url":"https:\/\/k12savings.com\/products\/an-introduction-to-fund-management-isbn-9780470017708","provider":"K12savings","version":"1.0","type":"link"}