From the Inside Flap
In order to achieve an institutional investor's objectives—whether it is an investment company, insurance organization, pension fund, or endowment—you need a firm understanding of various investment vehicles and how to value them, as well as detailed knowledge of the specific strategies used to properly manage these types of portfolios.
The investment process can be difficult to follow at times, but with the right guidance, and some discipline, you can become proficient at putting the pieces of this puzzle together. Nobody is more familiar with this situation than author Frank Fabozzi—an expert in the areas of investment management and structured finance. And now, with Institutional Investment Management, he draws upon his extensive experience in this field to help you excel at this difficult endeavor.
While the basic principles of investment management are applicable to all investors, there are nuances that are unique to the management of institutional funds. That's why it's important for those involved in this specific arena to become better acquainted with the management of institutional investors' portfolios.
Divided into four comprehensive parts—Port-folio Theory and Asset Pricing; Common Stock Analysis and Portfolio Management; Bond Analysis and Portfolio Management; and Investment Companies, Exchange-Traded Funds, and Alternative Investments—this reliable resource opens with an informative overview of the investment management process, then quickly moves on to cover an array of issues that both new and seasoned practitioners, as well as students of finance, can benefit from reading.
Some of the many topics covered include:
Modern portfolio theory, also known as mean-variance analysis, and specific asset pricing models
Common stock analysis and portfolio management: from discounted cash flow models and performance evaluation to transaction costs and trade execution
Bond analysis and portfolio management: from the fundamentals of various bond products to price volatility and interest rate risk
Using derivative instruments—options, futures, and swaps—to effectively control a portfolio's risk and reduce the cost of implementing investment strategies
Adapting the theory of institutional investment management to real-world conditions
Investment vehicles that offer an alternative to the direct investment in stocks and bonds
Managing the funds of an institution can be demanding, but with the tools and techniques found in Institutional Investment Management, you'll be prepared to handle this responsibility and make the major decisions involved with these types of portfolios.
From the Back Cover
Institutional Investment ManagementFilled with some of today's most important investment management theories, strategies, and applications, this comprehensive book puts the management of an institutional investor's portfolio in perspective.
Opening with an informative overview of the investment management process, respected investment expert Frank Fabozzi quickly moves on to cover an array of issues that both practitioners and students of finance can benefit from, including:
Portfolio theory and asset pricing
Common stock analysis and portfolio management
Bond analysis and portfolio management
Investment companies, exchange-traded funds, and alternative investments
With this book as your guide, you'll gain valuable insights into the essential aspects of institutional investment management and the role equities and bonds play in this process. Along the way, unique illustrations of factor models highlight how to build an equity and bond portfolio, while detailed discussions of derivatives reveal how you can effectively control a portfolio's risk and reduce the cost of implementing investment strategies.
Written in a straightforward and accessible style, Institutional Investment Management is an essential read for anyone who'd like to enhance their understanding of this evolving discipline.
