01202nam0-22003251i-450-99000608012040332120130716193148.0000608012FED01000608012(Aleph)000608012FED0100060801220000112d1987----km-y0itay50------baitaITy-------001yyAtti dell'Incontro di studio su Riforme urgenti del processo civileModena, 14 giugno 1986MilanoGiuffrè1987169 p.24 cmPubblicazioni della Facoltà di giurisprudenza, Dipartimento di scienze giuridiche, Università di ModenaN. S.8In testa al front.: Associazione italiana fra gli studiosi del processo civile347Incontro di studio su Riforme urgenti del processo civile<1986 ;Modena>328676Associazione italiana fra gli studiosi del processo civileITUNINARICAUNIMARCBK990006080120403321UNIV. 462 (8)16440*FGBCFGBCAtti dell'Incontro di studio su Riforme urgenti del processo civile577085UNINA01082nam0 22002771i 450 UON0020712220231205103318.71220030730d1975 |0itac50 baengUS|||| |||||ˆThe ‰energy crisis and U.S. : foreign policyedited by Joseph S. SzyliowiczBard E. O'NeillNew YorkWashington ; LondonPraeger Publishers1975XV, 258 p.24 cm.USNew YorkUONL000050USWashingtonUONL000087GBLondonUONL003044O'NeillBard E.UONV124344SZYLIOWICZJoseph S.UONV019354Praeger PublishersUONV263958650ITSOL20240220RICASIBA - SISTEMA BIBLIOTECARIO DI ATENEOUONSIUON00207122SIBA - SISTEMA BIBLIOTECARIO DI ATENEOSI IV POL A 0619 SI SC 3207 5 0619 Energy crisis and U.S. : foreign policy3898079UNIOR04962nam 22007094a 450 991101950190332120251029170302.09786610519064978111867339311186733959781280519062128051906197804700322200470032227(CKB)1000000000357433(EBL)267120(OCoLC)77526652(SSID)ssj0000262684(PQKBManifestationID)11220705(PQKBTitleCode)TC0000262684(PQKBWorkID)10271325(PQKB)10464902(MiAaPQ)EBC267120(Perlego)2786490(EXLCZ)99100000000035743320060404d2006 uy 0engur|n|---|||||txtccrTrustee investment strategy for endowments and foundations /Chris RussellChichester, England ;Hoboken, NJ Wileyc20061 online resource (250 pWiley finance seriesDescription based upon print version of record.9780470011966 0470011963 Includes bibliographical references (p. [165]-170) and index.Trustee Investment Strategyfor Endowments and Foundations; Contents; Foreword; Preface; Acknowledgments; 1 Introduction; 1.1 Endowment fund characteristics; 1.2 Constraints on endowments; 1.3 History rhymes; 1.4 The US endowment experience; 1.5 Structure of the book; 2 Language of Return; 2.1 Economic return; 2.2 Investment return; 2.3 'Other income' not return; 2.4 Income, capital and 'total return'; 2.5 Real and nominal return; 2.6 Absolute and relative return; 2.7 Arithmetic and geometric return; 2.8 Time-weighted return and money-weighted return; 3 Elements of Return; 3.1 Deriving return3.2 Risk-free return3.3 Premium for risk; 3.4 Equity risk premium; 3.5 The eighth wonder of the world; 3.6 Valuation change; 3.7 Drivers of return; 3.8 Scenario analysis; 4 Understanding Risk; 4.1 Description of risk; 4.2 Pascal's Wager; 4.3 Chance; 4.4 Co-movement and common factors; 4.5 The Greek alphabet; 4.6 Confidence; 4.7 Consequences; 4.8 Endowment fund risk; 5 Spending Rules; 5.1 The endowment dilemma; 5.2 Micawber's rule; 5.3 Pattern of flows; 5.4 More scenario analysis; 5.5 Determining an operating rule; 6 Assets for Strategy; 6.1 Back to the future; 6.2 Investment approach6.3 Classification of assets6.3.1 Operational assets; 6.3.2 Intergenerational assets; 6.4 Asset categories; 6.4.1 Cash; 6.4.2 Short-dated and intermediate-term bonds; 6.4.3 Long-dated bonds; 6.4.4 High-yield bonds; 6.4.5 Inflation-indexed bonds; 6.4.6 Convertible bonds; 6.5 Equities; 6.6 Private equity; 6.7 Real estate; 6.8 Commodities; 6.9 Hedge funds; 7 Legal, Social and Ethical; 7.1 Quis custodiet ipses custodies?; 7.2 Tax matters; 7.3 Extra-financial issues; 7.4 Corporate governance; 7.5 Corporate social responsibility; 7.6 Socially responsible investment; 7.7 Program-related investment7.8 Global view7.9 Reality check; 8 Understanding Strategy; 8.1 Resource assessment; 8.2 Defining needs; 8.3 Quantifying needs; 8.4 Spending rule; 8.5 Operational assets; 8.6 Intergenerational assets; 8.7 Review; 9 Implementing Strategy; 9.1 Investment policy statement; 9.2 Trustees of an endowment; 9.3 Investment committee; 9.4 Investment staff; 9.5 Risk tolerance and control; 9.6 Operational asset management; 9.7 Intergenerational asset allocation; 9.8 Benchmarks and performance; 9.9 Consultants; 9.10 Selection of asset managers; 9.11 Costs; 9.12 Custody; 10 SynopsisReferences and Reading MatterGlossary; IndexTrustees are responsible for the stewardship of assets and for implementing the mission of their endowment or foundation. Almost invariably trustees delegate the management of those assets to agents who are investment professionals. In this increasingly sophisticated and litigious financial world there can be a growing gap of comprehension, exacerbated by mathematics and jargon, between trustees who are responsible and agents who are accountable. This book aims to fill that gap. The book draws on the author's own experience and research and that of generations of investment professionals aWiley finance series.EndowmentsUnited StatesFinanceInvestmentsPortfolio managementEndowmentsFinance.Investments.Portfolio management.332.67/25385.30bclRussell Chris1842776MiAaPQMiAaPQMiAaPQBOOK9911019501903321Trustee investment strategy for endowments and foundations4422996UNINA