Managing Investment Portfolios, 3ed (Paperback) | Released: 2016

Each chapter in Managing Investment Portfolios: A Dynamic Process, Third Edition presents an authoritative, unified and illustrated treatment of a major investment topic. Organized to follow the flow of the portfolio management process from formulating an investment policy statement to portfolio construction, trade execution and monitoring and rebalancing the portfolio, this Third Edition covers the spectrum of contemporary professional portfolio management practice. Special Features Table of Content Foreword Preface Acknowledgments Introduction Chapter 1 The Portfolio Management Process and the Investment Policy Statement 1 Introduction 2 Investment Management 3 The Portfolio Perspective 4 Portfolio Management as a Process 5 The Portfolio Management Process Logic 6 Investment Objectives and Constraints 7 The Dynamics of the Process 8 The Future of Portfolio Management 9 The Ethical Responsibilities of Portfolio Managers Chapter 2 Managing Individual Investor Portfolios 1 Introduction 2 Case Study 3 Investor Characteristics 4 Investment Policy Statement 5 An Introduction to Asset Allocation Chapter 3 Managing Institutional Investor Portfolios 1 Overview 2 Pension Funds 3 Foundations and Endowments 4 The Insurance Industry 5 Banks and Other Institutional Investors Chapter 4 Capital Market Expectations 1 Introduction 2 Organizing the Task: Framework and Challenges 3 Tools for Formulating Capital Market Expectations 4 Economic Analysis Chapter 5 Asset Allocation 1 Introduction 2 What is Asset Allocation? 3 Asset Allocation and the Investor's Risk and Return Objectives 4 The Selection of Asset Classes 5 The Steps in Asset Allocation 6 Optimization 7 Implementing the Strategic Asset Allocation 8 Strategic Asset Allocation for Individual Investors 9 Strategic Asset Allocation for Institutional Investors 10 Tactical Asset Allocation Chapter 6 Fixed-Income Portfolio Management 1 Introduction 2 A Framework for Fixed-Income Portfolio Management 3 Managing Funds Against a Bond Market Index 4 Managing Funds Against Liabilities 5 Other Fixed-Income Strategies 6 International Bond Investing 7 Selecting a Fixed-Income Manager Chapter 7 Equity Portfolio Management 1 Introduction 2 The Role of the Equity Portfolio 3 Approaches to Equity Investment 4 Passive Equity Investing 5 Active Equity Investing 6 Semi active Equity Investing 7 Managing a Portfolio of Managers 8 Identifying, Selecting and Contracting with Equity Portfolio Managers 9 Structuring Equity Research and Security Selection Chapter 8 Alternative Investments Portfolio Management 1 Introduction 2 Alternative Investments: Definitions, Similarities and Contrasts 3 Real Estate 4 Private Equity / Venture Capital 5 Commodity Investments 6 Hedge Funds 7 Managed Futures 8 Distressed Securities Chapter 9 Risk Management 1 Introduction 2 Risk Management as a Process 3 Risk Governance 4 Identifying Risks 5 Measuring Risk 6 Managing Risk Chapter 10 Execution of Portfolio Decisions 1 Introduction 2 The Context of Trading: Market Microstructure 3 The Costs of Trading 4 Types of Traders and Their Preferred Order Types 5 Trade Execution Decisions and Tactics 6 Serving the Client's Interests 7 Concluding Remarks Chapter 11 Monitoring and Rebalancing 1 Introduction 2 Monitoring 3 Rebalancing the Portfolio 4 Concluding Remarks Chapter 12 Evaluating Portfolio Performance 1 Introduction 2 The Importance of Performance Evaluation 3 The Three Components of Performance Evaluation 4 Performance Measurement 5 Benchmarks 6 Performance Attribution 7 Performance Appraisal 8 The Practice of Performance Evaluation Chapter 13 Global Investment Performance Standards 1 Introduction 2 Background of the GIPS Standards 3 Provisions of the GIPS Standards 4 Verification 5 GIPS Advertising Guidelines 6 Other Issues Appendix: GIPS Glossary Glossary References About the CFA Program About t