Multi Asset Class Investment Strategy. Wiley Finance Series

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Introduction.

Acknowledgements.

1. Investment Strategy.

2. Multi Asset Class Investing.

3. Risk.

4. How to Define Risk.

5. How to Calculate Risk.

6. Quoted Equity.

7. Hedge Funds.

8. Private Equity.

9. Property.

10. LDI and Portable Alpha: Rival Strategies?.

11. Liquidity.

12. Portfolio Performance.

Conclusions.

Appendix 1: Tables of Performance Figures.

Appendix 2: Investment Strategies for DC Schemes and Mature Pension Plans.

Index.

The multi asset class Yale Model has long been hailed in the US as representing the very best that portfolio theory has to offer, placing Yale consistently in the top percentile for investment performance. Yet it has not been widely adopted, and outside the US remains largely unrecognised.

Multi Asset Class Investment Strategy shows how unthinking mistrust of so-called 'alternative' assets, and an inability validly to compare results across asset classes on any traditional risk-adjusted basis, has led to institutional investors, particularly pension funds, missing out on the out-performance which a multi asset class approach can offer.

Guy Fraser-Sampson demonstrates how the returns of different assets classes (hedge funds, private equity, property, etc) may validly be compared with those of quoted equity markets. He argues for an adoption of MAC investing (his own multi asset class investment model), and demonstrates how this can improve investment performance across a range of portfolios. He gives guidance on each asset class, including historic performance figures (many of which have not previously been publicly available). The book also offers the author's own unique approach to many issues for institutional investors, including risk, liquidity and Total Funding.

"...pension fund trustees right around the globe should read the book...the book is certain to stir up some much needed debate..." (Global Pensions, July 2006)

"...an indispensable roadmap for anyone looking to create a successful investment programme..." (The Securities Investment Review, July 2006)

"...a popular choice...drawing on over 20 years of experience..." (Pensions Management, July 2006)

"clear and punchy...argues convincingly...this book cannot but help to clarify your thinking." (Benefits and Compensation International, August 2006)

"On the other side of the fence...Guy Fraser-Sampson...the lack of interest in the Yale model." (Financial Times, November 2006)

"Das Buch "Multi Asset Class Investment Strategy" von Guy Fraser-Sampson aus der Reihe Wiley Finance Series, erschienen bei John Wiley & Sons, gibt einen Einblick in das "Multi Asset Class"-Modell der Yale-Universität. Die Universität verfolgte bereits sehr früh den Einsatz von alternativen Anlageklassen, um eine große Streuung des Portfolios zu erzielen und sich die Möglichkeit zu eröffnen, unabhängig von den Bewegungen der Aktien- und Anleihmärkte stabile Renditen einzufahren." (Institutional Money, 01.06.07)

GUY FRASER-SAMPSON has twenty years' experience of the investment industry across a range of asset classes, most notably private equity. His career has included a spell as Investment Controller with the Abu Dhabi Investment Authority, and setting up and running for several years the European operations of one of the world's leading fund of funds managers.
Guy is a well-known figure on the conference circuit, both as a speaker and as a panellist. His first major speech on MAC investing (to the UK's National Association of Pension Funds in 2005) sparked media attention around the globe and helped to establish MAC investing as one of the current hot topics of the investment world. He is the inventor of the Total Funding Model, by which pension funds can calculate their target rate of investment return, and previously developed a model for analysing the performance of buyout managers.
Guy Fraser-Sampson has an LLB with Honours from King's College London and an MBA majoring in finance from Warwick Business School. Originally a practising lawyer, he was made an equity partner in a City of London law firm at the age of 26, having been elected a Fellow of the Royal Society of Arts a year earlier. Guy has contributed many articles over the years to investment and pension publications, but this is his first book.

Guy Fraser-Sampson 

Business & Economics / Investments & Securities 

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