Active Investment Management: Finding and Harnessing Investment Skill

The investment management industry faces a number of well–publicised problems and difficulties. Charles Jackson shows how these all relate to the same underlying problem: that investors find investment skill very hard both to find and to put to work in a way that profits them.
Active Investment Management starts with the fundamentals of what active management is and why investors find it desirable. It goes on to show how these fundamentals have given rise to the industry’s problems, how these problems affect each other and how they can be resolved.
Written by a leading authority in the field, this book is an invaluable tool for the practitioner. It is broken down into five sections covering the whole spectrum of active investment management:asset classes and productsbalancing risk and returnactive product selectionthe nature of skillthe price of skill
Active Investment Management concludes by projecting industry trends, and outlining the future developments in active investment management implied by those trends.

Spis treści:
Preface.
Acknowledgements.
PART I: ASSET CLASSES AND PRODUCTS.
1. Stocks and Shares.
2. Investment Products.
3. Money.
4. Fixed Interest.
5. Foreign Assets.
PART II: BALANCING RISK AND RETURN.
6. Measuring Risk.
7. Investor Objectives.
8. Setting Policy.
PART III: ACTIVE PRODUCT SELECTION.
9. Finding Skill.
10. Using Style.
PART IV: THE NATURE OF SKILL.
11. Firms and Professionals.
12. Active Overlay Risk.
PART V: THE PRICE OF SKILL.
13. Fees.
14. Pay.
Afterword.
Technical Appendix.
Index.

Nota biograficzna:
CHARLES JACKSON holds an MA from Oxford University and an MBA from Stanford University, where he was a Harkness Fellow. He has 25 years experience in the investment management industry. For 13 years, he was the Head of the Fixed Interest and Currency Division of M ercury Asset Management, for most of the period the largest publicly quoted firm in Europe specialising exclusively in active investment management. He also served on Mercury′s Asset Allocation Committee and Chairman′s Committee. He was appointed a Vice Chairman of Mercury′s Main Board in 1993. He is married, with two children, and lives near Oxford.


Okładka tylna:
The investment management industry faces a number of well–publicised problems and difficulties. Charles Jackson shows how these all relate to the same underlying problem: that investors find investment skill very hard both to find and to put to work in a way that profits them.
Active Investment Management starts with the fundamentals of what active management is and why investors find it desirable. It goes on to show how these fundamentals have given rise to the industry’s problems, how these problems affect each other and how they can be resolved.
Written by a leading authority in the field, this book is an invaluable tool for the practitioner. It is broken down into five sections covering the whole spectrum of active investment management:asset classes and productsbalancing risk and returnactive product selectionthe nature of skillthe price of skill
Active Investment Management concludes by projecting industry trends, and outlining the future developments in active investment management implied by those trends.