Download How to Select Investment Managers & Evaluate Performance: A by G. Timothy Haight PDF

By G. Timothy Haight

An informative consultant to choosing and comparing exterior funding execs

This book-one of the only a few of its kind-is a useful relief to trustees of pension plans, endowments, and trusts who search to chart and navigate classes for governing and overseeing the funding of the trillions of greenbacks lower than their care. It covers many elements of this crucial activity, together with go back measures, fastened source of revenue and period, supervisor searches, committee conferences, and lots more and plenty extra.

G. Timothy Haight (Atherton, CA) is President of Menlo university in Silicon Valley. Stephen O. Morrell, PhD (Coral Springs, FL) is Professor at Andreas institution of commercial of Barry collage. Glenn Ross (Baltimore, MD) is a handling Director and cofounder of Archstone Portfolio strategies.

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Extra info for How to Select Investment Managers & Evaluate Performance: A Guide for Pension Funds, Endowments, Foundations, and Trusts

Example text

To be sure, derivatives can play an important role in determining investment performance. The policy statement must carefully define the conditions and extent of the use of derivatives. The investment policy statement should set guidelines regarding the use of derivatives in achieving the portfolio’s goals. Derivative instruments can be used either for speculative or hedging motives. While speculation using derivatives may enhance the portfolio’s returns, it may also lead to substantial losses.

25 Jennifer L. Blouin, Jana Smith Raedy, and Douglas A. Shackleford, The Initial Impact of the 2003 Reduction in the Dividend Tax Rate, working paper (October 2004). com/abstract = 4462542. indd 28 7/18/07 11:38:47 AM Investment Sponsors 29 partnerships have two classes of partners; general and limited. General partners carry out the business of the partnership and often are the motivating force behind establishing it. General partners usually face unlimited liability. Limited partners often provide the equity capital for the partnership.

With current projections of returns of asset classes, this automatically necessitates an aggressive asset allocation. S. bonds just will not allow the fund to reach its goals. The acceptable tolerance level can often be determined through a query of committee members. If the tolerance level is too low, then managers may be unable to reach the fund’s objectives. In such cases, the committee may consider reexamining the fund’s objectives and/or tolerance level. RISK TOLERANCES A crucial responsibility of the investment committee is to establish an acceptable level of risk for the investments they are charged with overseeing.

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