About this book
The complete guide to alternative investments, from experts working with CFA Institute
Alternative Investments is the definitive guide to understanding non-traditional asset classes. Alternatives are a disparate group of investments that are distinguished from long-only, publicly traded investments in stocks, bonds, and cash (often referred to as traditional investments). Alternative investments include real estate, commodities, infrastructure, and other non-traditional investments such as private equity or debt and hedge funds. They are attractive to investors because of the potential for portfolio diversification resulting in a higher risk-adjusted return for the portfolio.
Alternative Investments and its accompanying workbook (sold separately) lead students and investment professionals through the many characteristics of non-traditional assets, including:
- Narrow specialization of the investment managers
- Relatively low correlation of returns with those of traditional investments
- Less regulation and less transparency than traditional investments
- Limited historical risk and return data
- Unique legal and tax considerations
- Higher fees, often including performance or incentive fees
- Concentrated portfolios
- Restrictions on redemptions (i.e. "lockups" and "gates")
CFA Institute is the world's premier association for investment professionals, and the governing body for the CFA ® Program, CIPM ® Program, CFA Institute ESG Investing Certificate, and Investment Foundations ® Program.Those seeking a deeper understanding of the markets, mechanisms, and use of alternatives will value the level of expertise CFA Institute brings to the discussion, providing a clear, comprehensive resource for students and professionals alike. Whether used alone or in conjunction with the companion workbook, Alternative Investments offers a complete course in alternative investments and their role in investment management.
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Information
Table of contents
- Cover
- Title Page
- Copyright
- Contents
- Foreword
- Preface
- Acknowledgments
- About the CFA Institute Investment Series
- CHAPTER 1 Introduction to Corporate Governance and Other ESG Considerations
- CHAPTER 2 Introduction to Alternative Investments
- CHAPTER 3 Real Estate Investments
- CHAPTER 4 Private Equity Investments
- CHAPTER 5 Introduction to Commodities and Commodity Derivatives
- CHAPTER 6 Hedge Fund Strategies
- CHAPTER 7 Capital Market Expectations: Forecasting Asset Class Returns
- CHAPTER 8 Asset Allocation to Alternative Investments
- CHAPTER 9 Integrated Cases in Risk Management: Institutional
- Glossary
- About the Editors and Authors
- Index
- End User License Agreement