http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
a practical guide to portfolio risk management
A comprehensive guide to the key investment decisions all investors must make and how to manage the risk that entails Since all investors seek maximize returns balanced against acceptable risks, successful investment management is all about successful risk management. Strategic Risk Management uses that reality as a starting point, showing investors how to make risk management a process rather than just another tool in the investor's kit. The book highlights and explains primary investment risks and shows readers how to manage them across the key areas of any fund, including investment objecti.
Strategic Risk Management; Contents; Acknowledgments; Preface; Chapter 1 Strategic Risk Management Framework; Organizing Framework; Fund; Strategy; Implementation; Review; What Risks Does the Fund Face at each Level?; Governance Risk; Asset Allocation Risk; Timing Risk; Structural Risks; Manager Risk; Implementation Risk; Monitoring Risk; Summary; Putting the Ideas into Action; Background; Plan; Chapter 2 Governance Risk; Why Governance Matters; Good Governance; Mission Clarity; Separate Governance and Management; Structure of Governing Body; Good Processes; Investment Beliefs.
Review of Governance ApproachDelegation; Effective Monitoring and Oversight; Signs of Poor Governance; Too Many Managers; Too Much Reliance on Consultants; Top-Quartile Manager Selection as Policy; Not Investing Enough Internationally; Not Considering Indexing; Policies Not Clear and in Writing; Other Signs; Chapter 3 Investment Beliefs; Why Have Investment Beliefs?; Knowledge and Investment Beliefs; Investment Beliefs and Strategy; Categories of Investment Beliefs; Examples of Investment Beliefs; Approach to Developing Investment Beliefs.
Step 1: Understand the Fundamentals of Risk and ReturnStep 2: Have a Sound Framework for How Markets Work; Step 3: Make Sure the Investment Beliefs Best Suit Your Fund; Investment Beliefs about Asset Classes; Putting the Ideas into Action; Chapter 4 Fund's Purpose; Clear Definition; Possible Ways to Express Objectives; Examples; Defined Benefit Plan; Defined Contribution Plan; Endowment; Chapter 5 Strategic Asset Allocation; Guiding Principles; Key Steps; Capital Market Assumptions; Asset Class Return Relationships; Global Asset Class Assumptions; Equity Risk Premium; Bonds.
Candidate PortfoliosCombining Asset Classes to Form Portfolios; Asset-Liability Modeling; Selecting a Portfolio; Chapter 6 Hedge Funds; Not an Asset Class; Types of Strategies; Characteristics of Hedge Funds; Risks of In vesting in Hedge Funds; Process Risk; Mapping Risk; Event Risk; Data Risk; Performance Measurement Risk; Risk and Return Characteristics; Historical Performance; Hedge Fund of Funds; Successful Hedge Funds Programs; Good Implementation; Reasonable Risk and Return Expectations; Chapter 7 Private Equity; Types of Private Equity; Stages of Investment; Features of Private Equity.
Risks of Private EquityMarket-Related Risks; Investment-Specific Risks; Managing the Risks; Manager Research and Selection; Diversification; Access to Good Funds; Due Diligence; Fund of Funds; Suitability for an Investor's Portfolio; Risk and Return Characteristics; Historical Performance; Reasonable Risk and Return Expectations; Achieving Private Equity Allocations; Chapter 8 Benchmarks; What Are Benchmarks For?; Characteristics of Good Benchmarks; Example: Global Equities; Market Capitalization and Benchmarks; Chapter 9 Tactical Asset Allocation; Tactical versus Strategic Asset Allocation.
Includes bibliographical references and index.