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Chapter 24 - Lecture Presentation Software to accompany...

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Lecture Presentation Software to accompany Investment Analysis and Portfolio Management Eighth Edition by Frank K. Reilly & Keith C. Brown Chapter 24
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Chapter 24 Professional Asset Management Questions to be answered: What are the different ways that professional asset management firms can be organized? How has the structure of the asset management industry changed over time? How are managers at investment advisory firms compensated?
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Chapter 24 Professional Asset Management Who manages the investment company portfolio and how are its managers compensated? How do you compute the net asset value (NAV) for an investment company? What is the difference between closed-end and open-end investment companies? What is the difference between the NAV and market price for a closed-end fund?
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Chapter 24 Professional Asset Management What are load fees, 12b-1 fees, and management fees and how do they influence investment company performance? What are the two major means of fund distribution and what has been the trend for each approach? Given the breakdown of all funds by investment objectives, which groups have experienced relative growth or decline?
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Chapter 24 Professional Asset Management What are hedge funds and how do they differ from traditional professionally managed investment products? What investment strategies do hedge funds follow and what has been the performance of those fund types over time? What legal and ethical standards exist to protect investors who employ professional asset managers?
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Chapter 24 Professional Asset Management What are the ethical dilemmas involved in the professional asset management industry? What functions should investors expect professional asset managers to perform for them?
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The Asset Management Industry: Structure and Evolution Two Organization Forms Contract directly with a management and advisory firm Commingling of investment capital of several clients in an investment company Differences between These Two Forms Private management and advisory firms develop a personal relationship with clients A Investment company offers a general solution
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