Paperback. Although the asset management industry has come under increasing scrutiny since the financial crisis it still remains poorly understood and investment scandals continue to headline in the financial press. Whereas most literature on the industry focuses on the technical end - how managers invest and what tips others can glean - this book explores the way these businesses operate as businesses and how they make their money. The book explains how the industry is organized, how firms generate revenues through various types of fund, fees and charges and what cost pressures they face. It investigates the nature of their client relationships, the role played by star investors and the requirement for firms to integrate non-financial considerations into their investment process. The inherent tensions and potential conflicts of interest within asset managers that seek to keep both clients and shareholders happy is also examined. The book concludes by considering how the industry is evolving, the role of regulation and where it is struggling to change. Suitable for students of business and finance, those working in allied areas of the finance sector, and for anyone with a general interest in how financial institutions and markets operate, the book offers readers a balanced and incisive guide to the economics of an industry that globally controls more than $100 trillion of financial assets and a critical appraisal of the sector's future. Suitable for students of business and finance, the book offers readers a balanced and considered guide to the economics of the fund management industry and a critical appraisal of the sector's future. Shipping may be from multiple locations in the US or from the UK, depending on stock availability.

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Bibliographic Details

Title: The Economics of Fund Management (Paperback)
Publisher: Agenda Publishing, Newcastle upon Tyne
Publication Date: 2022
Language: English
ISBN 10: 1788215346
ISBN 13: 9781788215343
Binding: Paperback
Condition: new

About this title

Synopsis

Asset managers control more than $100 trillion of financial assets globally. Since the 2008 financial crisis, the industry has come under increasing scrutiny but still remains poorly understood and investment scandals continue to headline in the financial press. Most literature on fund managers concerns how they invest or offers tips on how others can invest, but the way these businesses make money and how they pay their star investors is barely explored. This book examines how the fund management business works and casts a critical eye over the way asset managers operate and make money. It offers a different perspective from technical textbooks on fund management and instead provides insights into the reality of commercial decisions taken by fund managers and their companies.

Beyond describing asset managers’ organizational model – covering investment, distribution and operations – the book explores how some firms have become money-making machines, the nature of their client relationships, the ways firms generate revenues and the cost pressures many are facing. The impact of regulations in shaping the industry is shown to play an important role, for example, in drawing a distinction between hedge funds and mutual funds. Within this, the role of star investors, company culture, and the challenge of sustainable investing are also considered to show how the industry is evolving – and the areas where it is struggling to change.

Suitable for students of business and finance, those working in allied areas of the finance sector, and for anyone with a general interest in how financial institutions and markets operate, the book offers readers a balanced and considered guide to the economics of the fund management industry and a critical appraisal of the sector's future.

About the Author

Ed Moisson is a journalist for the Financial Times group and has reported on the fund management industry for many years.

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