Alternative Investment Operations

Alternative Investment Operations

This book provides current and practical guidance on the foundations of how alternative investment managers build and manage their operations.

Author: Jason Scharfman

Publisher: Springer Nature

ISBN: 9783030466299

Category: Business & Economics

Page: 198

View: 463

Alternative investments such as hedge funds, private equity, and fund of funds continue to be of strong interest among the investment community. As these investment strategies have become increasingly complex, fund managers have continued to devote more time and resources towards developing best practice operations to support the actual trade processing, fund accounting, and back-office mechanics that allow these strategies to function. Representative of this operational growth, estimates have indicated that fund managers have seen increased operating budgets of 30% or more in recent years. In today’s highly regulated environment, alternative investment managers have also increasingly had to integrate rigorous compliance and cybersecurity oversight into fund operations. Additionally, with recent advances in artificial intelligence and big data analysis, fund managers are devoting larger portions of their information technology budgets towards realizing technology-based operational efficiencies. Alternative investment fund service providers have also substantially increased their scope and breadth of their operations-related services. Furthermore, investors are increasingly performing deep-dive due diligence on fund manager operations at both fund level and management company levels. This book provides current and practical guidance on the foundations of how alternative investment managers build and manage their operations. While other publications have focused on generalized overviews of historical trading procedures across multiple asset classes, and the technical intricacies of specific legacy operational procedures, Alternative Investment Operations will be the first book to focus on explaining up-to-date information on the specific real-world operational practices actually employed by alternative investment managers. This book will focus on how to actually establish and manage fund operations. Alternative Investment Operations will be an invaluable up-to-date resource for fund managers and their operations personnel as well as investors and service providers on the implementation and management of best practice operations.
Categories: Business & Economics

Alternative Investments

Alternative Investments

During the last 15 years the hedge fund industry has become one of the most creative and rapid growing areas within the financial industry and has made it hard for regulators to mitigate the potential risks posed to investors and the ...

Author: Marco M. Sperlich

Publisher: Diplomica Verlag

ISBN: 9783836688611

Category: Business & Economics

Page: 56

View: 370

During the last 15 years the hedge fund industry has become one of the most creative and rapid growing areas within the financial industry and has made it hard for regulators to mitigate the potential risks posed to investors and the financial system. In light of the financial crisis, international interest in the supervision and regulation of the financial industry has increased rapidly, particularly with regard to hedge funds and there is no doubt that international and European initiatives will influence hedge fund operations in European and German law. The aim of this thesis is to introduce the reader from a legal perspective to the general characteristics of hedge funds as well as the existing and expected legal schemes for the operations of hedge funds in European and German law. The thesis explains the characteristics of hedge fund schemes by describing their origin and terms of hedge funds used. In general, the reader will be introduced to the European and German legal landscape as well as to market participants in the hedge funds business by analysing applicable German law as well the practability of existing EU Directives and Regulations. Furthermore a brief summary of the financial supervisory framework will be presented as well as the role of hedge fund associations. The reader will also find a chapter analyzing and describing the proposed Directive for Alternative Investment Fund Managers (AIFM) by following its table of contents resulting in a comparative summary on expected European regulation and possible impacts to German law. Finally, I highlight two conclusions. First on the proposed AIFM Directive, which is still in draft, and therefore a statement of political intent, has no binding effect and I expect that the proposed regulations encompassed in the Directive will evolve significantly prior to the passage of new legislation due to lobbying by hedge fund associations and the United Kingdom (UK) government. The second conclusion is that German
Categories: Business & Economics

Economic Analysis of Investment Operations

Economic Analysis of Investment Operations

... then the analyst will only look at alternative ways of delivering ... Comparison Economic Analysis of Investment Operations: Analytical Tools and ...

Author: Pedro Belli

Publisher: World Bank Publications

ISBN: 0821348507

Category: Business & Economics

Page: 264

View: 906

This books presents general principles and methodologies of quantitative risk analysis; provides theory and practice of how to evaluate health, transport and education projects and describes how to assess the environmental impact of projects. It looks at how the tools of cost benefit analysis can be applied from the point of view of the private sector, public sector, bankers, and the country as a whole. It encourages analysts to answer a number of key questions that are likely to increase success rather than simply describing techniques. This book as aimed at all concerned with resource allocation and is presented in an accessible fashion. It is required reading at World bank Institute courses.
Categories: Business & Economics

Alternative Investments

Alternative Investments

For the purposes of this Chapter, operations is defined as including all operations except investment operations (discussed in Chapter 33) and business ...

Author: Donald R. Chambers

Publisher: John Wiley & Sons

ISBN: 9781119651703

Category: Business & Economics

Page: 960

View: 722

Whether you are a seasoned professional looking to explore new areas within the alternative investment arena or a new industry participant seeking to establish a solid understanding of alternative investments, Alternative Investments: An Allocator's Approach, Fourth Edition (CAIA Level II curriculum official text) is the best way to achieve these goals. In recent years, capital formation has shifted dramatically away from public markets as issuers pursue better financial and value alignment with ownership, less onerous and expensive regulatory requirements, market and information dislocation, and liberation from the short-term challenges that undergird the public capital markets. The careful and informed use of alternative investments in a diversified portfolio can reduce risk, lower volatility, and improve returns over the long-term, enhancing investors' ability to meet their investment outcomes. Alternative Investments: An Allocator's Approach (CAIA Level II curriculum official text) is a key resource that can be used to improve the sophistication of asset owners and those who work with them. This text comprises the curriculum, when combined with supplemental materials available at caia.org, for the CAIA Level II exam. "Over the course of my long career one tenet has held true, 'Continuing Education'. Since CalSTRS is a teachers' pension plan, it is no surprise that continuing education is a core attribute of our Investment Office culture. Overseeing one of the largest institutional pools of capital in the world requires a cohesive knowledge and understanding of both public and private market investments and strategies. We must understand how these opportunities might contribute to delivering on investment outcomes for our beneficiaries. Alternative Investments: An Allocator's Approach is the definitive core instruction manual for an institutional investor, and it puts you in the captain's chair of the asset owner." —Christopher J. Ailman, Chief Investment Officer, California State Teachers’ Retirement System "Given their diversified cash flow streams and returns, private markets continue to be a growing fixture of patient, long-term portfolios. As such, the need to have proficiency across these sophisticated strategies, asset classes, and instruments is critical for today's capital allocator. As a proud CAIA charterholder, I have seen the practical benefits in building a strong private markets foundation, allowing me to better assist my clients." —Jayne Bok, CAIA, CFA, Head of Investments, Asia, Willis Tower Watson
Categories: Business & Economics

Directive on alternative investment fund managers

Directive on alternative investment fund managers

... would suggest that the what about the alternative investment fund manager ... look at the quality of the investment operations , to did beforehand .

Author: Great Britain: Parliament: House of Lords: European Union Committee

Publisher: The Stationery Office

ISBN: 0108459403

Category: Political Science

Page: 331

View: 842

Directive on alternative investment fund Managers : 3rd report of session 2009-10, Vol. 2: Evidence
Categories: Political Science

Alternative Investments A Primer for Investment Professionals

Alternative Investments  A Primer for Investment Professionals

Top-level oversight of traditional public investments requires little or no knowledge of day-to-day issues involving investment processes and operations ...

Author: Donald R. Chambers

Publisher: CFA Institute Research Foundation

ISBN: 9781944960384

Category: Business & Economics

Page:

View: 967

Alternative Investments: A Primer for Investment Professionals provides an overview of alternative investments for institutional asset allocators and other overseers of portfolios containing both traditional and alternative assets. It is designed for those with substantial experience regarding traditional investments in stocks and bonds but limited familiarity regarding alternative assets, alternative strategies, and alternative portfolio management. The primer categorizes alternative assets into four groups: hedge funds, real assets, private equity, and structured products/derivatives. Real assets include vacant land, farmland, timber, infrastructure, intellectual property, commodities, and private real estate. For each group, the primer provides essential information about the characteristics, challenges, and purposes of these institutional-quality alternative assets in the context of a well-diversified institutional portfolio. Other topics addressed by this primer include tail risk, due diligence of the investment process and operations, measurement and management of risks and returns, setting return expectations, and portfolio construction. The primer concludes with a chapter on the case for investing in alternatives.
Categories: Business & Economics

Research Handbook on Hedge Funds Private Equity and Alternative Investments

Research Handbook on Hedge Funds  Private Equity and Alternative Investments

... little information available about their operations and investment strategy, ... appear to have 104 Hedgefunds, private equity and alternative investments.

Author: Phoebus Athanassiou

Publisher: Edward Elgar Publishing

ISBN: 9781849806084

Category: Business & Economics

Page: 508

View: 478

This unique and detailed Handbook provides a comprehensive source of analysis and research on alternative investment funds in the EU, the US and other leading jurisdictions. Expert contributors offer an unparalleled perspective on the contemporary alternative funds industry, the main areas of regulatory policy concern surrounding its activities, and the role that alternative funds have played in recent financial crises, as well as an account of the rules governing their operation in selected jurisdictions. Providing insight and analysis of the contemporary investment funds industry at a time of crisis and transition, the Research Handbook on Hedge Funds, Private Equity and Alternative Investments will be a valuable tool for scholars, practitioners and policymakers alike.
Categories: Business & Economics

Practical Operational Due Diligence on Hedge Funds

Practical Operational Due Diligence on Hedge Funds

This book provides complete guidance toward the due diligence process, with plentiful real-world examples.

Author: Rajiv Jaitly

Publisher: John Wiley & Sons

ISBN: 9781119018735

Category: Business & Economics

Page: 872

View: 478

Tighten due diligence procedures for more successful hedge fundinvestment Practical Operational Due Diligence on Hedge Funds is anencyclopaedic, comprehensive reference, written from theperspective of an experienced practitioner. Accompanied by a usefularchive of factual material on different hedge fund issues,including failures, fines, and closures, this book focuses on theareas due diligence professionals should address, and explains whythey're important. Extensive discussion of publicised casesidentifies the manager entities and actual fund vehicles involved,and provides commentary on what could have been done differently ineach case, backed by actual regulatory materials, such as SECcomplaints, that recreate the events that took place. Readers gaina deeper understanding of the many facets of due diligence and themany possible pitfalls, learning how standardise processes andavoid major errors and oversights. The amount of money managed by hedge funds has almost doubledfrom the $1 trillion under management at the time of the financialcrisis. Hedge funds can be extremely risky, but can be extremelyprofitable — as money increasingly flows back in, duediligence on these alternative investments becomes more and morecritical. This book provides complete guidance toward the duediligence process, with plentiful real-world examples. Identify the areas of due diligence and what can go wrong Create procedures and checklists to minimise errors Learn what publicised cases could have done differently Gain a deeper understanding of massive failures andsuccesses Proper due diligence can be a massive undertaking, butthoroughness is essential when the price of failure is so high.Practical Operational Due Diligence on Hedge Funds providesthe details professionals need to be on point every time.
Categories: Business & Economics

Alternative Investments

Alternative Investments

Brokerage firms and other firms with major investment activities organize their activities into three major operations: (1) front office, (2) back office, ...

Author: Donald R. Chambers

Publisher: John Wiley & Sons

ISBN: 9781119604150

Category: Business & Economics

Page: 928

View: 980

Alternative Investments: CAIA Level I, 4th Edition is the curriculum book for the Chartered Alternative Investment Analyst (CAIA) Level I professional examination. Covering the fundamentals of the alternative investment space, this book helps you build a foundation in alternative investment markets. You'll look closely at the different types of hedge fund strategies and the range of statistics used to define investment performance as you gain a deep familiarity with alternative investment terms and develop the computational ability to solve investment problems. From strategy characteristics to portfolio management strategies, this book contains the core material you will need to succeed on the CAIA Level I exam. This updated fourth edition tracks to the latest version of the exam and is accompanied by the following ancillaries: a workbook, study guide, learning objectives, and an ethics handbook.
Categories: Business & Economics

Private Equity

Private Equity

Applicable to both seasoned private equity gurus and students of the industry, its in-depth analysis of 'Best Practices' is well researched and clearly written." —William Campbell, Managing Director, W.Y. Campbell & Company "This is an ...

Author: Harry Cendrowski

Publisher: Wiley

ISBN: 0470178469

Category: Business & Economics

Page: 480

View: 230

Praise for Private Equity "Private Equity: History, Governance, and Operations is an invaluable guide to understanding the world of private equity investing. Harry Cendrowski and his colleagues have drawn on their extensive experience and expertise to produce a book that is remarkably comprehensive and authoritative." —Robert Larson, Chairman, Lazard Real Estate Partners LLC and Larson Realty Group Managing Director, Lazard Alternative Investments "Private Equity: History, Governance, and Operations is an essential text for any business/finance professional's library. Applicable to both seasoned private equity gurus and students of the industry, its in-depth analysis of 'Best Practices' is well researched and clearly written." —William Campbell, Managing Director, W.Y. Campbell & Company "This is an interesting and very well-written book. It not only clearly describes the history and techniques of private equity investing, it also provides a thorough examination of the rarely appreciated relationships among internal control design and operation, corporate governance and sound investment decision-making and management. It is an important contribution to the literature of finance." —Barry Epstein, PhD, CPA, Partner, Russell Novak & Company, LLP, and author of Wiley GAAP 2008, The Handbook of Accounting and Auditing, and Wiley IFRS 2008 "Harry Cendrowski really hits a homerun with his newest book about the private equity (PE) industry. A definitive, authoritative text on the subject, it answered all my questions, plus some, and gave me a complete frame of reference where I now feel well informed on PE. I would recommend this book to anyone connected to the PE industry, business advisors, academics, and business owners." —Parnell Black, MBA, CPA, CVA, Chief Executive Officer, National Association of Certified Valuation Analysts (NACVA) "The timing could not be better to learn more about the current best practices and governance in the world of private equity. What was once an exclusive asset class reserved for the largest, most sophisticated investors has now become a mainstream alternative investment option for investors of all sizes. Still, many investors do not fully understand how the business works. Private Equity: History, Governance, and Operations endows its readers with an A-to-Z education on this emerging asset class, irrespective of their previous experiences." —Maribeth S. Rahe, President and Chief Executive Officer, Fort Washington Investment Advisors, Inc. & Fort Washington Capital Partners "As a private equity practitioner in the financial services space, I found this book to be a comprehensive-and comprehendible-resource covering all relevant aspects of the business of private equity. This book provides valuable 'how-to's' for improving the likelihood of having successful portfolio companies, with successful exits. Furthermore, both veteran and prospective PE investors now have a resource available to help them screen PE opportunities that best fit with their risk and return objectives." —Scott B. McCallum, Principal, Resource Financial Institutions Group, Inc. "For years, private equity has been a misunderstood asset class. Harry Cendrowski's book defines private equity in clear, concise terms. Anyone in the financial world will benefit from the insights, guidelines, and experiences detailed in Private Equity: History, Governance, and Operations." —Bob Clone, Senior Portfolio Manager, Alternative Investments Division, Michigan Department of Treasury
Categories: Business & Economics

The Handbook of Traditional and Alternative Investment Vehicles

The Handbook of Traditional and Alternative Investment Vehicles

Company A correctly reflect the contribution of Company B's operations. The value of the position will be Value of Company A's operations: 4 × $45 = $180 ...

Author: Mark J. P. Anson

Publisher: John Wiley & Sons

ISBN: 1118008693

Category: Business & Economics

Page: 528

View: 265

A comprehensive volume that covers a complete array of traditional and alternative investment vehicles This practical guide provides a comprehensive overview of traditional and alternative investment vehicles for professional and individual investors hoping to gain a deeper understanding of the benefits and pitfalls of using these products. In it, expert authors Mark Anson, Frank Fabozzi, and Frank Jones clearly present the major principles and methods of investing and their risks and rewards. Along the way, they focus on providing you with the information needed to successfully invest using a host of different methods depending upon your needs and goals. Topics include equities, all types of fixed income securities, investment-oriented insurance products, mutual funds, closed-end funds, investment companies, exchange-traded funds, futures, options, hedge funds, private equity, and real estate Written by the expert author team of Mark Anson, Frank Fabozzi, and Frank Jones Includes valuable insights for everyone from finance professionals to individual investors Many finance books offer collections of expertise on one or two areas of finance, but The Handbook of Traditional and Alternative Investment Vehicles brings all of these topics together in one comprehensive volume.
Categories: Business & Economics

Agroindustrial Investment and Operations

Agroindustrial Investment and Operations

Recall that our rationale is a particular return on an investment made at the ... or in the alternative investment you used as a comparison (in this case, ...

Author: James G. Brown

Publisher: World Bank Publications

ISBN: 0821323458

Category: Business & Economics

Page: 310

View: 838

Identifying, developing and servicing markets; The selection and evaluation of processing options; Raw material supply; Financial analysis of agroindustrial investments; Managing the agroindustrial enterprise; Socioeconomic evaluation of agroindustries.
Categories: Business & Economics

Alternative Investments 2 0

Alternative Investments 2 0

Neue Impulse für Strategien, Assets und Nachhaltigkeit Ahmet Peker, ... Ukraine and it has operations and assets in continental Europe, the UK and the US.

Author: Ahmet Peker

Publisher: Frankfurt School Verlag

ISBN: 9783956471858

Category: Business & Economics

Page: 546

View: 518

Alternative Investments sind zu einem bedeutsamen Anlagevehikel für institutionelle Investoren geworden – sowohl aus Gründen der Rendite als auch aus Gründen der Portfolio-Diversifikation. Alternative Investments bieten ferner die Möglichkeit, einerseits für Investoren, innovative Anlagekonzepte zu verfolgen, anderseits für Emittenten, sich alternative Wege und Formen der Kapitalbeschaffung zu eröffnen. In dem Buch werden verschiedene alternative Investments dargestellt und beschrieben, sowohl im Hinblick auf ihren Eigenkapital- als auch auf ihren Fremdkapitalcharakter. Zudem werden hybride Ausgestaltungen behandelt und dem Megatrend Nachhaltigkeit gefolgt. Dabei werden verschiedene alternative Assets vorgestellt sowie die dahinterliegenden strategischen Investmentansätze analysiert. Die Autoren des Buches stammen aus nationalen und internationalen Investmenthäusern und verleihen den Beiträgen einen hohen praxisorientierten sowie praxisrelevanten Einblick in die vorgestellten alternativen Investments. Sie richten sich damit an institutionelle Investoren und vermitteln ihnen Anregungen und Impulse bei der Ausrichtung ihrer alternativen Investmentpolitik und -strategie.
Categories: Business & Economics

Operations Research

Operations Research

Illustration 16 : Growfast Company is evaluating alternative single - period investment opportunities whose returns are based on the state of the economy .

Author: Sivarethinamohan

Publisher: Tata McGraw-Hill Education

ISBN: 0070263736

Category: Operations research

Page: 596

View: 610

Categories: Operations research

Streetwise

Streetwise

Faced with these realities , large firms try to adapt their investment operations . They offer alternative investment products , sometimes managed in ...

Author: Peter L. Bernstein

Publisher: Princeton University Press

ISBN: 9781400829408

Category: Business & Economics

Page: 325

View: 888

Streetwise brings together classic articles from the publication that helped revolutionize the way Wall Street does business. During the recession of the early 1970s, investment professionals turned to the theories of a small band of mathematical economists, whose ideas on such topics as portfolio development and risk management eventually led to the reform and maintenance of entire economies. This was the first time economists and practitioners had joined forces to such remarkable effect. Economist and money manager Peter Bernstein sought to encourage this exchange when, in 1974, he founded The Journal of Portfolio Management (JPM). For this present volume, Bernstein and JPM editor Frank Fabozzi have selected forty-one of the most influential articles to appear in the journal over the past twenty-five years, some of them written by Nobel laureates and all aimed at stimulating dialogue between academic economists wishing to understand the real-world problems of finance and investment professionals wanting to bring the most advanced theoretical work to bear on commerce. Financial economics is a youthful but vital field. Streetwise not only reflects its fascinating history but through articles on topics ranging from stock prices and risk management to bonds and real estate also offers relevant insights for today. The contributors are: R. Akhoury, R. D. Arnott, G. L. Bergstrom, G. O. Bierwag, F. Black, R. Bookstaber, K. Cholerton, R. Clarke, D. M. Cutler, C. P. Dialynas, P. O. Dietz, D. H. Edington, M. W. Einhorn, J. Evnine, R. Ferguson, P. M. Firstenberg, H. R. Fogler, F. Garrone, R. Grieves, R. C. Grinold, D. J. Hardy, D. P. Jacob, B. I. Jacobs, R. H. Jeffrey, R. N. Kahn, G. G. Kaufman, M. Kritzman, R. Lanstein, C. M. Latta, M. L. Leibowitz, K. N. Levy, R. Lochoff, R. W. McEnally, K. R. Meyer, E. M. Miller, A. F. Perold, P. Pieraerts, J. M. Poterba, K. Reid, R. R. Reitano, R. Roll, B. Rosenberg, S. A. Ross, M. Rubinstein, A. Rudd, P. A. Samuelson, R. Schweitzer, C. Seix, W. F. Sharpe, B. Solnik, L. H. Summers, A. L. Toevs, J. L. Treynor, A. Weinberger, and R. C. Zisler.
Categories: Business & Economics

Traffic Operations Asset Management Systems TOAMS Study findings

Traffic Operations Asset Management Systems  TOAMS   Study findings

A new dimension of asset management , particularly for operations assets ... and alternative investment scenarios , Create linkages that integrate ...

Author: Teresa M. Adams

Publisher:

ISBN: NWU:35556038801403

Category: Infrastructure (Economics)

Page:

View: 992

Categories: Infrastructure (Economics)

Stochastic Models in Operations Research Stochastic optimization

Stochastic Models in Operations Research  Stochastic optimization

Keep in mind that the joint distribution would be needed for each of perhaps many alternative investments . Another reason to avoid explicit computation of ...

Author: Daniel P. Heyman

Publisher: Courier Corporation

ISBN: 0486432602

Category: Mathematics

Page: 576

View: 888

This two-volume set of texts explores the central facts and ideas of stochastic processes, illustrating their use in models based on applied and theoretical investigations. They demonstrate the interdependence of three areas of study that usually receive separate treatments: stochastic processes, operating characteristics of stochastic systems, and stochastic optimization. Comprehensive in its scope, they emphasize the practical importance, intellectual stimulation, and mathematical elegance of stochastic models and are intended primarily as graduate-level texts.
Categories: Mathematics

Private Equity Operational Due Diligence Website

Private Equity Operational Due Diligence    Website

... reviews of alternative investments including hedge funds, private equity, ... and has lectured on the subject of alternative investment operations and ...

Author: Jason A. Scharfman

Publisher: John Wiley & Sons

ISBN: 9781118113905

Category: Business & Economics

Page: 400

View: 812

A step-by-step guide to develop a flexible comprehensive operational due diligence program for private equity and real estate funds Addressing the unique aspects and challenges associated with performing operational due diligence review of both private equity and real estate asset classes, this essential guide provides readers with the tools to develop a flexible comprehensive operational due diligence program for private equity and real estate. It includes techniques for analyzing fund legal documents and financial statements, as well as methods for evaluating operational risks concerning valuation methodologies, pricing documentation and illiquidity concerns. Covers topics including fund legal documents and financial statement analysis techniques Includes case studies in operational fraud Companion website includes sample checklists, templates, spreadsheets, and links to laws and regulations referenced in the book Equips investors with the tools to evaluate liquidity, valuation, and documentation Also by Jason Scharfman: Hedge Fund Operational Due Diligence: Understanding the Risks Filled with case studies, this book is required reading for private equity and real estate investors, as well as fund managers and service providers, for performing due diligence on the noninvestment risks associated with private equity and real estate funds.
Categories: Business & Economics

The World Turned Upside Down

The World Turned Upside Down

The financier wing comes largely out of 'alternative investments', ... but with limited success.76 Most alternative investment operations are run as ...

Author: Greg Albo

Publisher: Monthly Review Press

ISBN: 9781583677506

Category: Political Science

Page: 320

View: 249

A World Turned Upside Down? poses two overarching questions for the new period opened by the Trump election and the continued growth of right-wing nationalisms. Is there an unwinding of neoliberal globalization taking place, or will globalization continue to deepen, but still deny the free cross-border movement of labor? Would such an unwinding entail an overall shift in power and accumulation to specific regions of the Global South that might overturn the current world order and foster the disintegration of the varied regional blocs that have formed? These questions are addressed through a series of essays that carefully map the national, class, racial, and gender dimensions of the state, capitalism, and progressive forces today. Sober assessment is crucial for the left to gain its political bearings in this trying period and the uncertainties that lie ahead.
Categories: Political Science