In the past there was considerable mystique around the fund management industry; managers were respected for their professional expertise and their decisions or performance rarely questioned. All this has been swept away over the past fifteen years and the mystique around the fund management industry has been exploded. Globalisation, new technology, the rise of quantitative techniques twenty-four hour trading, the growth of the pension funds, the rise in socially responsible investing, the initiation of tracker funds and the growth in individual traders, amongst others have transformed the industry, calling into question, in some cases, the very need for such highly paid professionals. Why, the public wonder, when most managers underperform the index, do they charge such high fees and receive bonuses that for most people would represent many years earnings? Why are they needed at all? Yet, although the industry has consolidated through mergers and acquisitions it continues to thrive. Based around interviews with leading figures in the asset management industry, this book examines the issues that face fund managers today and how the industry will evolve in the future. In this thought-provoking discussion of the future of the industry the author argues that, while managers will need to adapt to survive under these changed circumstances, the industry is, more than ever, essential both to the health of the financial markets and to the much wider economy
Book Details:
- Author: Shanta Acharya
- ISBN: 9780470322734
- Year Published: 2002
- Pages: 408
- BISAC: BUS017000, BUSINESS & ECONOMICS/Corporate Finance / General
About the Book and Topic:
In the past there was considerable mystique around the fund management industry; managers were respected for their professional expertise and their decisions or performance rarely questioned. All this has been swept away over the past fifteen years and the mystique around the fund management industry has been exploded. Globalisation, new technology, the rise of quantitative techniques twenty-four hour trading, the growth of the pension funds, the rise in socially responsible investing, the initiation of tracker funds and the growth in individual traders, amongst others have transformed the industry, calling into question, in some cases, the very need for such highly paid professionals. Why, the public wonder, when most managers underperform the index, do they charge such high fees and receive bonuses that for most people would represent many years earnings? Why are they needed at all? Yet, although the industry has consolidated through mergers and acquisitions it continues to thrive. Based around interviews with leading figures in the asset management industry, this book examines the issues that face fund managers today and how the industry will evolve in the future. In this thought-provoking discussion of the future of the industry the author argues that, while managers will need to adapt to survive under these changed circumstances, the industry is, more than ever, essential both to the health of the financial markets and to the much wider economy
A stimulating and thought-provoking discussion of issues currently facing all in the asset management industry, based around interviews with the key players who are shaping the future of the industry.
Contains numerous interviews with major industry players in the asset management industry. * Places the industry within the context of the wider economy. * Highlights the social implications of the industry’s actions. * Offers thought-provoking discussion on the future of the asset management industry.
About the Author
SHANTA ACHARYA is a freelance writer and researcher who began her investment management career with Morgan Stanley Asset Management before working as a fund manager for Swiss Bank Corporation Portfolio Management International and Baring Asset Management respectively. She studied at Oxford and Harvard and at the London Business School.