The Handbook for Investment Committee Members: How to Make Prudent Investments for Your Organization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: How to Make Prudent Investments for Your Organization投资委员手册：如何为你的机构进行明智投资

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作者: Russell L. Olson 著

出版社: John Wiley & Sons

出版时间: 2005-03

版次: 1

ISBN: 9780471719786

定价: 452.00

装帧: 精装

开本: 16开

纸张: 胶版纸

页数: 160页

分类: 外文古旧书>英文书>经济

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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.


   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
内容简介:
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.


   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.
目录:
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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