Asset Management: A Systematic Approach to Factor Investing

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Oxford University Press, Jul 7, 2014 - Business & Economics - 368 pages
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In Asset Management: A Systematic Approach to Factor Investing, Professor Andrew Ang presents a comprehensive, new approach to the age-old problem of where to put your money. Years of experience as a finance professor and a consultant have led him to see that what matters aren't asset class labels, but instead the bundles of overlapping risks they represent. Factor risks must be the focus of our attention if we are to weather market turmoil and receive the rewards that come with doing so. Clearly written yet full of the latest research and data, Asset Management is indispensable reading for trustees, professional money managers, smart private investors, and business students who want to understand the economics behind factor risk premiums, to harvest them efficiently in their portfolios, and to embark on the search for true alpha.
 

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Dhruv Chhabra is the Chairman and CEO of Chhabra Asset Management which is a Toronto-based investment firm that is focused on investing on behalf of our clients — including institutional investors and high net-worth individuals. We at Chhabra Asset Management understand the complexities of the global economy and the financial industry and transform that knowledge into great portfolios and strategic partnerships with clients across Canada. Today, we have over $1 million of assets under management for a large number of Canadian investors.
Chhabra Asset Management follows key principles with the objective of delivering sustainable, long-term value for our Canadian investors.
 

Contents

Preface
THE ASSET OWNER
Asset Owners
Preferences
MeanVariance Investing
Investing for the Long
Investing Over the Life Cycle
FACTOR RISK PREMIUMS
Real Assets
TaxEfficient Investing
Illiquid Assets
Factor Investing
Delegated Investing
Mutual Funds and Other 40Act Funds
Hedge Funds
Private Equity

Factor Theory
Factors
Equities
Bonds
Alpha and the LowRisk Anomaly
Afterword
Acknowledgments
Author Index
Subject Index

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About the author (2014)

Andrew Ang is the Ann F. Kaplan Professor of Business at Columbia Business School. He is a financial economist whose work centers on understanding the nature of risk and return in asset prices. His work spans bond markets, equities, asset management and portfolio allocation, and alternative investments. Prof. Ang has served as associate editor for several leading journals, and he has received grants from various government and industry organizations. He has consulted for several financial institutions, most often the Norwegian sovereign wealth fund. Prof. Ang received a Bachelor of Economics with First Class Honours from Macquarie University, Sydney, and a Masters of Statistics and PhD in Finance from Stanford University.

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