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    Multi Asset Class Investment Strategy
    Multi Asset Class Investment Strategy
    Multi Asset Class Investment Strategy
    Ebook237 pages6 hours

    Multi Asset Class Investment Strategy

    By Guy Fraser-Sampson

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    About this ebook

    The book explains that instead of asset allocation being set in an isolated and arbitrary fashion, it is in fact the way in which specific hurdle investment returns can be targeted, and that this approach is already in use in the US (and has been for many years). It involves extended and detailed financial analysis of various asset class returns and proposes a five-asset class approach for future use.

    Opening with a study of the historic asset allocation practice of UK pension funds, the book shows how the current approach has led to the present funding crisis. It goes on to compare and contrast the UK approach with that of the US and to propose a new approach to UK asset allocation: the five asset class approach ("MAC Investing").

    The book reviews and analyses different asset classes based on historic returns, examines risk, and concludes with a suggestion of the five asset classes to use; Quoted equities (both Domestic and foreign), hedge funds, private equity and property. This book also includes benchmark performance figures never previously published.

    LanguageEnglish
    PublisherWiley
    Release dateJul 11, 2006
    ISBN9780470033890
    Multi Asset Class Investment Strategy

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    • 5/5
      Guy Fraser-Sampson with his first book, Multi Asset Class Investment Strategy, has made a huge contribution to practice of portfolio theory.Picking up where David Swensen in his book Pioneering Portfolio Management leaves off, Fraser-Sampson demonstrates how blind faith in so-called “alternative assets” and faulty risk-adjusted performance metrics cause institutional investors to under-perform market measures.The author shows how different asset class – hedge funds, private equity, real estate, etc. – returns can be compared to those of listed equities. At the risk of simplifying his thoughts, the author argues portfolio managers need to adopt a long-term view. Returns must be compounded over many years. Not, as the current obsession requires, earned quarter-to-quarter.The fact that most of the illustrations in this book are drawn from UK data in no way detracts from the validity of its message. It is clear and pragmatic. The Yale Model represents the best Portfolio Theory has to offer. Combine it with Fraser-Sampson’s unique thoughts on risk, liquidity and Total Funding; it represents the future of institutional investing.Penned by the Pointed PunditOctober 4, 200611:20:47 AM

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