投资委员手册：如何为你的机构进行明智投资 THE HANDBOOK FOR INVESTMENT COMMITTEE MEMBERS: mobi 下载 fb2 夸克云 azw3 网盘 pdf pmlz

Comprehensive coverage of what it takes to be a responsible member of an investment committee

In a clear, organized, and easy-to-understand manner, this handbook explains the responsibilities and expectations of investment committee fiduciaries for pension funds, endowment funds, and foundations. Emphasizing all the do's and don'ts to follow for prudent investment management, this invaluable resource covers topics ranging from investment policy, asset allocation, and risk assessment to understanding information presented at committee meetings, asking meaningful and productive questions, and voting on recommendations knowledgeably. This book will empower readers with all the knowledge they need to feel confident in the investment decisions they make for their organizations

作者简介：RUSSELL L. OLSON, a consultant on institutional investing, retired in 2000 as the director of pension investments worldwide for Eastman Kodak. He had overseen Kodak's pension funds since 1972. Over the last thirty years, Olson also worked with a range of endowment funds. He was named one of America's nine best pension officers by Institutional Investor magazine in 1987 and was Investment Management Institute's first Plan Sponsor of the Year in 1993. Olson is also the author of The Independent Fiduciary: Investing for Pension Funds and Endowment Funds, also published by Wiley.

Acknowledgments

Introduction

Organization of this Book

CHAPTER 1: The Investment Committee

Standards to Meet

Committee Organization and Functions

Interaction of Committee and Adviser

Social Investing

In Short

APPENDIX 1: Example of an Investment Committee’s Operating Policies

CHAPTER 2: Risk, Return, and Correlation

Return

Risk

Correlation

Risk-Adjusted Returns

Derivatives—A Boon or a Different Four-Letter Word?

In Short

CHAPTER 3: Setting Investment Policies

Time Horizon, Risk, and Return

Policy Asset Allocation

Preparing a Statement of Investment Policies

In Short

CHAPTER 4: Asset Allocation

Characteristics of an Asset Class

Asset Classes

Putting It All Together

In Short

CHAPTER 5: Alternative Asset Classes

Liquid Alternative Assets

Illiquid Investments

Private Asset Classes

In Short

CHAPTER 6: Selecting and Monitoring Investment Managers

Three Basic Approaches

Criteria for Hiring and Retaining Managers

Hiring Managers

Retaining Managers

In Short

CHAPTER 7: The Custodian

Custodial Reporting

Management Information

In Short

CHAPTER 8: Evaluating an Investment Fund’s Organization

Investment Objectives

Asset Allocation

The Fiduciary Committee

The Adviser

Investment Managers

CHAPTER 9: Structure of an Endowment Fund

The Total Return, or Imputed Income, Approach

“Owners” of the Endowment Fund

In Short

APPENDIX 9: The Total Return or Imputed Income Method

CHAPTER 10: What’s Different about Pension Funds?

Pension Plan Liabilities

Investment Implications

In Short

CHAPTER 11: Once Again

Glossary

Bibliography

Index

About the Author

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书籍介绍

Comprehensive coverage of what it takes to be a responsible member of an investment committee In a clear, organized, and easy-to-understand manner, this handbook explains the responsibilities and expectations of investment committee fiduciaries for pension funds, endowment funds, and foundations. Emphasizing all the do's and don'ts to follow for prudent investment management, this invaluable resource covers topics ranging from investment policy, asset allocation, and risk assessment to understanding information presented at committee meetings, asking meaningful and productive questions, and voting on recommendations knowledgeably. This book will empower readers with all the knowledge they need to feel confident in the investment decisions they make for their organizations