Читать книгу Liability-Driven Investment - Dan Tammas-Hastings - Страница 2
ОглавлениеTable of Contents
1 Cover
5 Preface
6 CHAPTER 1: Liability-Driven Investment and Multi-Asset Class Investing MOVING BEYOND MODERN PORTFOLIO THEORY: INTRODUCING THE WORLD OF LIABILITY-DRIVEN INVESTMENT THE CULT OF EQUITY THE PENSION PROTECTION FUND SUMMARY
7 CHAPTER 2: Introduction to Investment Risk RISK MANAGEMENT THE IMPORTANCE OF RISK VS RETURN QUANTIFYING RISK SYSTEMATIC AND NONSYSTEMATIC RISK CREATING A RISK PROFILE SUMMARY
8 CHAPTER 3: Introductory Steps into the World of Multi-Asset Class Investment SOME HANDY DEFINITIONS THE STARTING POINT INTRODUCING MODERN PORTFOLIO THEORY MORE HANDY DEFINITIONS BUT HOW DOES THE ASSET ALLOCATION DECISION WORK? HOME COUNTRY BIAS: DEVELOPING A STRATEGY FOR MULTIPLE ASSET CLASSES QUICK ASIDE: SUMMARY
9 CHAPTER 4: Building Investment Portfolios (FUNDAMENTAL, TECHNICAL AND QUANTITATIVE TECHNIQUES) AN INTRODUCTION TO SINGLE STOCK SELECTION THE TYPES OF ANALYSIS FUNDAMENTAL ANALYSIS OF SECURITIES TECHNICAL ANALYSIS OF SECURITIES QUANTITATIVE ANALYSIS THE PASSIVE VS ACTIVE DEBATE SO, PASSIVE OR ACTIVE? SUMMARY
10 CHAPTER 5: Building Investment Portfolios CHOOSING THE MANAGER MOVING ON TO OPERATIONAL DUE DILIGENCE A SAMPLE (NON-EXHAUSTIVE) LIST OF OPERATIONAL CHECKS PART 3 PORTFOLIO SELECTION
11 CHAPTER 6: Moving Towards Liability Driven Investing THE TIME VALUE OF MONEY THE BASICS CONTINUED: REAL VERSUS NOMINAL DISCOUNTING A SIMPLE AND BRIEF LOOK AT BONDS IMMUNISATION THEORY AND FRANK REDINGTON AN INTRODUCTION TO INTEREST RATE SWAPS AN INTRODUCTION TO INFLATION-LINKED SECURITIES
12 CHAPTER 7: The Defined Benefit Pension Plan and Explicit Liabilities THE BOOTS EXAMPLE THE STAKEHOLDERS IN A TYPICAL PLAN WHAT ARE THE LIABILITIES?
13 CHAPTER 8: ESG, Governance and the Pensions Industry THE UN PRI THE INCREASING IMPORTANCE OF ESG THE MAIN APPROACHES TO ETHICAL INVESTING ESG: A SCREENING APPROACH ESG: AN INTEGRATION-BASED APPROACH IMPACT-BASED ESG INVESTING ENGAGEMENT-BASED ESG INVESTING ESG IN HISTORY INCORPORATING ESG INTO THE SIP THE REVISED STATEMENT SHOULD
14 CHAPTER 9: Moving Beyond Liability-Driven Investment THE WORLD OF CDI WHAT IS THE DIFFERENCE BETWEEN LDI AND CDI? CREDIT WHERE IT'S DUE CASH FLOW-DRIVEN INVESTMENT IN ACTION
15 CHAPTER 10: The Statement of Investment Principles DRAWING UP A STATEMENT OF INVESTMENT PRINCIPLES A SAMPLE STATEMENT OF INVESTMENT PRINCIPLES STATEMENT OF INVESTMENT PRINCIPLES FOR THE ABC PLAN
16 CHAPTER 11: Liability-Driven RoboAdvice and the Development and Digitisation of the Industry WEALTHTECH: HOW WEALTH MANAGERS AND THEIR CLIENTS ARE EMBRACING NEW TECHNOLOGIES FROM WEALTHTECH TO ROBO-ADVICE A BRIEF INTRODUCTION TO ROBO-ADVICE ADVICE OR GUIDANCE: ROBO-ADVICE OR PARTIALLY AUTOMATED DIGITAL GUIDANCE FURTHER DEVELOPMENTS IN LDI WHAT IS CASH FLOW-DRIVEN INVESTMENT? THE EVOLUTION OF LDI
17 Index
List of Tables
1 Chapter 4TABLE 4.1 The drag on returns from higher costs
2 Chapter 5TABLE 5.1 A Comparison: The Asset Managers and The Asset Gatherers
3 Chapter 6TABLE 6.1 LIBORTABLE 6.2 The Inflation Swap Market
4 Chapter 7TABLE 7.1 The cost of a long dated cashflow
5 Chapter 9TABLE 9.1 The hypothetical return expectations and objectives of an investor ...TABLE 9.2 Suggested Portfolio Composition for the Gilts + 125 target
List of Illustrations
1 Chapter 1FIGURE 1.1 Assets vs. Liabilities
2 Chapter 5FIGURE 5.1 Asset Allocation
3 Chapter 6FIGURE 6.1 The mechanics of an inflation swap
4 Chapter 9FIGURE 9.1 Sample investment universe
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