The Future of Asset Management: Separation of Market Returns and Value-Added

Topics:
Investment and Capital Markets
Tags:
Asset,
Asset Class,
Asset Management,
Business Operations,
Operational Planning,
State Street
Source:
State Street

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Overview: The way that investments are managed will fundamentally change in the coming decades. The changes will unfold as investors and managers seek out portfolio structures that maximize the likelihood of meeting investment objectives. The distinguishing feature of the structure foreseen is that the market returns elements of a portfolio - representing both risks less and risky assets - will be managed entirely apart from skill-based efforts to add value in portfolios. In other words, market-level risk premiums will be captured through passive management, while efforts to add value with skill-based management - in any asset class - will take the form of pure value-added devoid of persistent asset class exposure.

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Format: PDF | Size: 407KB | Date: Oct 2003 | Pages: 8

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