Fund managers : the complete guide / Matthew Hudson

MATTHEW HUDSON is well known in the asset management and fund management industries, with over 30 years of experience as both a lawyer and an investor. With particular expertise in alternative assets, Matthew has built several financial and professional services firms, including asset management consultancy MJ Hudson, which advises over 750 fund managers. His broad investment experience (from funds of funds to venture capital) spans four groups: CSFB, Far Blue Ventures, Tower Gate Capital and Coller Capital. Matthew speaks regularly on alternative asset topics, and he is author of the leading text Funds: Private Equity, Hedge and All Core Structures (Wiley Finance).

Preface vii Chapter 1 Seismic Shifts 1 Chapter 2 What is it like Being an Asset Manager? 18 Chapter 3 Structures and Economics 27 Chapter 4 Governance 57 Chapter 5 Investment Strategies 84 Chapter 6 Investors' View of the Industry 119 Chapter 7 Asset Allocation and Portfolio Construction 150 Chapter 8 Technology 167 Chapter 9 Regulation in the Asset Management Industry 183 Chapter 10 Risk, Compliance, and Regulatory Trends 209 Chapter 11 Taxation 233 Chapter 12 Regional Trends 255 Chapter 13 Future Trends 281 Some Conclusions 297 Glossary of Terms 301 Abbreviations 327 Acknowledgments 333 About the Author 337 Index 339

"Fund Managers: The Complete Guide constitutes an all-encompassing overview of the asset manager right across the world, set against the backdrop of the last decade's recovery from the banking crisis and the recent technology boom, coupled with more recent political fluctuations that have altered the way business is conducted in the City and across the rest of the financial markets. The book is in two sections. The first half examines the asset manager, including the categories of manager, the asset classes they participate in, how they are making use of technology and their own views on the market. The second half takes a wider view of the market, and includes upcoming changes to regulation and taxation as well as the macro political shifts occurring now across the Western world and what that entails for the East. Throughout, the book will contain insights arising from interviews with current and future asset managers of various sizes, from the UK, EU and US, as well as with leaders in the technology industry, which will include both large and small fintech companies. Topics covered include: How asset managers operate and what they are for -- Types of assets managed and how they influence the manager's strategy -- Types of investor, and their feelings about the industry -- The influence of macroeconomic and political factors including international taxation, anti-globalisation and populism -- The impact of technology and disruptive products and players -- Governance and regulation -- The operation of asset managers in different regions and how local culture influences their strategies"