Yoram Lustig - Böcker

Planning, constructing and managing a multi-asset portfolioA multi-asset investment management approach provides diversification benefits, enhances risk-adjusted returns and enables a portfolio to be tailored to a wide range of investing objectives, whether these are generating returns or income, or matching liabilities.This book is divided into four parts that follow the four stages of the multi-asset investment management process:1. Establishing objectives: Defining the return objectives, risk objectives and investment constraints of a portfolio.2. Setting an investment strategy: Setting a plan to achieve investment objectives by thinking about long-term strategic asset allocation, combining asset classes and optimisation to derive the most efficient asset allocation.3. Implementing a solution: Turning the investment strategy into a portfolio using short-term tactical asset allocation, investment selection and risk management. This section includes examples of investment strategies.4. Reviewing: Evaluating the performance of a portfolio by examining results, risk, portfolio positioning and the economic environment.By dividing the multi-asset investment process into these well-defined stages, Yoram Lustig guides the reader through the various decisions that have to be made and actions that have to be taken. He builds carefully from defining investment objectives, formulating an investment strategy and the steps of selecting investments, leading to constructing and managing multi-asset portfolios.At each stage the considerations and strategies to be undertaken are detailed, and the description of the process is supported with relevant financial theory as well as practical, real-life examples.Multi-asset Investing is an essential handbook for the modern approach to investment portfolio management.

Investors who build diversified, multi-asset portfolios, have an ever increasing range of investment assets at their disposal. In order to invest effectively – and build a solid, performing portfolio – it is essential for investors to understand each of these single asset classes and how to use them in portfolios. The Investment Assets Handbook covers the full spectrum of different asset classes and investment types available today, providing investors with the definitive information they need to reach an understanding of the broad range of investment assets.The Handbook is divided into four parts:1. An introduction to asset classes, including how they should be defined, the main features that can be used to characterise asset classes and the roles that different assets fulfil within a multi-asset portfolio.2. Traditional assets, including global equities, fixed income and cash.3. Alternative assets, including real estate, commodities, private equity and hedge funds. 4. New alternative investments, including currency, infrastructure, structured finance, leveraged loans, structured products, alternative or smart betas, volatility, art, insurance-linked securities and timber.Each asset chapter within these sections provides a description of the asset and its characteristics, its historic performance, how to model its future long-term performance, the role it performs in a multi-asset portfolio, its risks, how to access it, and other relevant topics. Long-term investment themes that may impact the future behaviour of assets and investing generally are also highlighted and discussed.The Investment Assets Handbook is the essential guide that investors need as they navigate the universe of investment assets and build multi-asset portfolios.