Alternative Investments: CFA Institute Investment Series
Autor CFA Instituteen Limba Engleză Hardback – 6 mar 2022
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Specificații
ISBN-13: 9781119850601
ISBN-10: 1119850606
Pagini: 672
Dimensiuni: 186 x 260 x 41 mm
Greutate: 1.36 kg
Editura: Wiley
Seria CFA Institute Investment Series
Locul publicării:Hoboken, United States
ISBN-10: 1119850606
Pagini: 672
Dimensiuni: 186 x 260 x 41 mm
Greutate: 1.36 kg
Editura: Wiley
Seria CFA Institute Investment Series
Locul publicării:Hoboken, United States
Notă biografică
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors' interests come first, markets function at their best, and economies grow. CFA Institute has more than 170,000 members in 160+ countries and territories, including 163,000 CFA(r); charterholders, and 150+ member societies. For more information, visit www.cfainstitute.org.
Cuprins
Foreword
Preface
Acknowledgments
About the CFA Institute Investment Series
Chapter 1: Introduction to Corporate Governance and Other ESG Considerations
Learning Outcomes
* Introduction and Overview of Corporate Governance
* Stakeholder Groups
* Principal- Agent and Other Relationships in Corporate Governance
* Overview and Mechanisms of Stakeholder Management
* Mechanisms to Mitigate Associated Stakeholder Risks
* Company Boards and Committees
* Relevant Factors in Analyzing Corporate Governance and Stakeholder Management
* Risks and Benefits of Corporate Governance and Stakeholder Management
* Factors Relevant to Corporate Governance and Stakeholder Management Analysis
* ESG Considerations for Investors and Analysts
Summary
Chapter 2: Introduction to Alternative Investments
Learning Outcomes
* Introduction
* Investment Methods
* Investment and Compensation Structures
* Hedge Funds
* Private Capital
* Natural Resources
* Real Estate
* Infrastructure
* Issues in Performance Appraisal
* Calculating Fees and Returns
Summary
Chapter 3: Real Estate Investments
Learning Outcomes
Section A: Overview of Types of Real Estate Investment
* Introduction and Basic Forms of Real Estate Investment
* Economic Value Drivers, Role in Portfolio, and Risk/Return of Real Estate Investments Relative to Stocks and Bonds
* Considerations in Analysis and Due Diligence
* Indexes
Section B: Investments in Real Estate Through Private Vehicles
* Introduction to Valuation Approaches
* The Income Approach to Valuation: Discount Rates and the Direct
* The DCF Method, the Relationship between Discount Rate and Cap Rate, and the Terminal Capitalization Rate
* Private Market Real Estate Debt
Section C: Investments in Real Estate Through Publicly Traded Securities
* Types of Publicly Traded Real Estate Securities
* Valuation: Net Asset Value Approach
* Valuation: Relative Value (Price Multiple) Approach
* REIT Mini Case Study: Example of Disclosures and Valuation Analysis
* Private versus Public: A Comparison
Summary
General Characteristics of Real Estate
Private Equity Real Estate
Publicly Traded Real Estate Securities
Chapter 4: Private Equity Investments
Learning Outcomes
* Introduction
* Introduction to Valuation Techniques in Private Equity Transactions
* Contrasting Venture Capital and Buyout Investments
* LBO Model for Valuation of Buyout Transactions
* VC Method for Valuation of Venture Capital Transactions
* Exit Routes: Return Cash to Investors
* Risks and Costs of investing in Private Equity
* Private Equity Fund Structures and Terms
* Private Equity Fund
Summary
Chapter 5: Introduction to Commodities and Commodity Derivatives
Learning Outcomes
* Introduction
* Commodity Sectors
* Life Cycle of Commodities
* Valuation of Commodities
* Commodities Futures Markets: Participants
* Commodity Spot and Futures Pricing
* Theories of Futures Returns
* Components of Futures Returns
* Contango, Backwardation, and the Roll Return
* Commodity Swaps
* Commodity Indexes
Summary
Chapter 6: Hedge Fund Strategies
Learning Outcomes
* Introduction and Classification of Hedge
* Equity Strategies: Long/Short Equity
* Equity Strategies: Dedicated Short Selling and Short-Biased
* Equity Strategies: Equity Market Neutral
* Event- Driven Strategies: Merger Arbitrage
* Event- Driven Strategies: Distressed Securities
* Relative Value Strategies: Fixed Income Arbitrage
* Relative Value Strategies: Convertible Bond Arbitrage
* Opportunistic Strategies: Global Macro Strategies
* Opportunistic Strategies: Managed Futures
* Specialist Strategies
* Multi- Manager Strategies
* Analysis of Hedge Fund Strategies using a Conditional Factor Risk Model
* Evaluating Equity Hedge Fund Strategies: Application
* Evaluating Multi- manager Hedge Fund Strategies: Application
* Portfolio Contribution of Hedge Fund Strategies
Summary
Chapter 7: Capital Market Expectations: Forecasting Asset Class Returns
Learning Outcomes
* Introduction
* Overview of Tools and Approaches
* Forecasting Fixed Income Returns
* Risks in Emerging Market Bonds
* Forecasting Equity Returns
* Forecasting Real Estate Returns
* Forecasting Exchange Rates
* Forecasting Volatility
* Adjusting a Global Portfolio
Summary
Chapter 8: Asset Allocation to Alternative Investments
Learning Outcomes
* Introduction and The Role of Alternative Investments in a Multi-asset Portfolio
* Diversifying Equity Risk
* Traditional Approaches to Asset Classification
* Risk- Based Approaches to Asset Classification and Comparing Risk- Based and Traditional Approaches
* Risk Considerations, Return Expectations and Investment Vehicle
* Liquidity
* Fees and Expenses, Tax Considerations, and Other Considerations
* Suitability Considerations
* Asset Allocation Approaches and Statistical Properties and Challenges of Asset Returns
* Monte Carlo Simulation
* Portfolio Optimization
* Risk Factor- Based Optimization
* Liquidity Planning and Achieving and Maintaining the Strategic Asset Allocation
* Managing the Capital Calls and Preparing for the Unexpected
* Monitoring the Investment Program
Summary
Chapter 9: Integrated Cases in Risk Management: Institutional
Learning Outcomes
* Introduction
* Financial Risks Faced by Institutional Investors
* Environmental and Social Risks Faced by Institutional Investors
Glossary
About the Editors and Authors
Index