Investment management, 2e

The job of planning, implementing, and overseeing the funds of an individual investor or an institution is referred to as an investment management. The purpose of this book is to describe the process of investment management:

• The focus of this text is on management of funds of institutional investors (depository institutions, insurance companies, investment companies, pension funds, and endowment funds and foundations).
• Managers of institutional funds manage those funds to meet certain investment objectives. Therefore, a thorough treatment of the investment objectives of institutional investors and the constraints imposed on the manager of the funds of these institutions are made clear to students so that they can fully appreciate investment strategies.
• Since most student who enter the investment management business are employed by institutions that concentrate on fixed-income products, this text places an emphasis on fixed-income portfolio management.
• The sections on derivative instruments teach how these instruments can be used to effectively control a portfolio’s risk and how they may be used to reduce the cost of implementing investment strategies.