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受托管理:出色的养老基金规划Fiduciary Management : Blueprint for Pension Fund Excellence书籍详细信息
- ISBN:9780470171035
- 作者:暂无作者
- 出版社:暂无出版社
- 出版时间:2007-12
- 页数:274
- 价格:558.80
- 纸张:胶版纸
- 装帧:精装
- 开本:16开
- 语言:未知
- 丛书:暂无丛书
- TAG:暂无
- 豆瓣评分:暂无豆瓣评分
内容简介:
Fiduciary Management offers an in-depth explanation of every facet of this fast-growing approach to organizing the management of an institutional investment portfolio. Expert author Anton van Nunen begins by outlining the historic shift that has brought this strategy to the attention of the investment community and quickly moves on to illustrate fiduciary management in practice; giving advice in terms of asset-liability modeling and financial markets, constructing portfolios, selecting and overseeing investment managers, benchmarking and performance measurement, and reporting.
作者简介:
ANTON VAN NUNEN,PHD, has headed Van Nunen & Partners, a consulting firm serving both institutional and individual investors, since 1998. His clients have included a number of major institutional investors in the Netherlands and beyond. Van Nunen has not only spelled out the concepts of fiduciary management, he has also implemented them at such institutions as VGZ-IZA, a major Dutch health insurance company, the Campina Pension Fund, and the Yarden Insurance Company. Van Nunen earned a PhD in economics from Tilburg University, where he went on to spend twelve years as an assistant professor.
书籍目录:
Foreword
Preface
CHAPTER 1
The Pendulum Swings Back in Asset Management
The Forces of History
The Rise of Modern Portfolio Theory
Support for Shares
The New Paradigm
The Rise of Indexing
Discontent with the Paradigm
The Need for Fiduciary Managers
CHAPTER 2
Pension Plans; The Principal Setting for Fiduciary Management
The Historical Idea of Pensions
A Patchwork of Pension Provisions
Organization and Regulation of the Pension System in
several OECD Countries
Denmark
France
Germany
The Netherlands
Marking to Market
Sufficiency Test
Sweden
Switzerland
United Kingdom
The United States
Australia
Similarities and Differences
Commonalities on the Asset Side
CHAPTER 3
The Role of the fiduciary Manager as Chief Advisor
The Asset-Liability Study
Thinking through Risk and Return
Portfolio Construction
Selecting and Overseeing Investment Managers
Measuring and Benchmarking
Education
The Trusted Counselor, the Fellow Fiduciary
CHAPTER 4
Shaping the Fundamental Investment Policies
Liability-Driven Investments
Choosing an Active Investment Policy
Integrating Active Policy in the Overall Portfolio
Completion Account as a Necessary Adjunct to Active Policy
The Fiduciary Platform to Integrate Active Policy in the Overall Investment Portfolio
A Special Case: Bridging the Duration Gap
What a Fiduciary Manager's Report Looks Like
CHAPTER 5
Asset-Liability Modeling and the Fiduciary Manager
The Role of the Fiduciary Manager
The Asset-Liability Model (ALM)
Policy Instruments Used in Asset-Liability Modeling
Calculations to Cope with Uncertainty
The Crucial Role of ALM
Asset-Liability Modeling in Practice
Prognosis of Future Reserves without Policy Changes
Future Financial Situation with Flexible Premium
Levels under the Regime of a Fixed Compound Rate
Future Financial Situation with Flexible Premium
Levels under the Regime of Compound Rates Equalto Market Interest Rates
Future Financial Situation with Changes in Investment Policy
……
CHAPTER 6
Fiduciary Management In Practice-Portfolio Construction
CHAPTER 7
Horses For Courses-Selecting And Overseeing Investment Managers
CHAPTER 8
Performance Measurement and Benchmarking
CHAPTER 9
The Fiduciary Manager Experience in the Netherlands and Beyond
CHAPTER 10
Summing Up Fiduciary Management:What It Is and Is Not
Appendix:Suppliers of Fiduciary Services
Notes
Bibliography
Index
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Fiduciary Management offers an in-depth explanation of every facet of this fast-growing approach to organizing the management of an institutional investment portfolio. Expert author Anton van Nunen begins by outlining the historic shift that has brought this strategy to the attention of the investment community and quickly moves on to illustrate fiduciary management in practice; giving advice in terms of asset-liability modeling and financial markets, constructing portfolios, selecting and overseeing investment managers, benchmarking and performance measurement, and reporting.
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