Managing Lease Portfolios: How to Increase Return and Control Risk

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John Wiley & Sons, Aug 24, 2011 - Business & Economics - 206 pages
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Leasing is one of today's more complex forms of financing, and, unless you have extensive experience in this arena, making informed decisions can be difficult. Over the life of a lease, its risks and returns change, and the factors that affect the risks and returns also change.

In Managing Lease Portfolios, Townsend Walker, an expert in this field, explains how to evaluate the risk of lease portfolios as well as hedge their long-term, non-traded risks. Here, you’ll learn how to apply various financial tools to your portfolio of leases and discover the work that goes into each step—such as measuring the risks of a lease, calculating the returns, and estimating the effects of diversification. Many of the ideas and concepts found within this comprehensive resource have existed for a number of years in the fields of foreign exchange, interest rate and credit derivatives, and the bond and stock markets. This book adapts and applies these concepts to managing leases. Then it illustrates how you can implement these new concepts through concrete models that have been proven to work in the real world.

 

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Contents

Preface
EquipmentRisk
Chapter
Chapter
Options in a Lease
Separating the Returns
AppendixLease CashFlows
FactorAnalysis
PortfolioRisk andReturn Portfolio Theory
Hedging a Leasing Portfolio
Portfolio Management in aLeasing
Bibliography
Copyright

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About the author (2011)

TOWNSEND WALKER is a partner of APERIMUS, a firm focused on identifying the sources of risk in leasing portfolios and devising structures to control those risks. He specializes in providing lessors with sophisticated modeling and structuring services, including comprehensive portfolio analysis, capital allocation, risk assessment, derivative structuring, and more. Most recently, Walker was a managing director at Banc of America Leasing & Capital Group, where he developed a portfolio model for leases and a lease valuation model. Walker received a PhD in economics from Stanford, an MA in economics from NYU, and a BS in foreign service from Georgetown University. He is also the author of A Guide for Using the Foreign Exchange Market (published by Wiley) and Managing Risk with Derivatives.

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