Investment Manager Analysis: A Comprehensive Guide to Portfolio Selection, Monitoring and Optimization
"This is a book that should have been written years ago. It
provides a practical, thorough, and completely objective method to
analyze and select an investment manager. It takes the mystery (and
the consultants) out of the equation. Without question, this book
belongs on every Plan Sponsor's desk."
—Dave Davenport, Assistant Treasurer, Lord Corporation, author of The Equity Manager Search
"An insightful compendium of the issues that challenge those
responsible for hiring and firing investment managers. Frank
Travers does a good job of taking complicated analytical tools and
methodologies and explaining them in a simple, yet practical
manner. Anyone responsible for conducting investment manager due
diligence should have a copy on their bookshelf."
—Leon G. Cooperman, Chairman and CEO, Omega Advisors, Inc.
"Investment Manager Analysis provides a good
overview of the important areas that purchasers of institutional
investment management services need to consider. It is a good
instructional guide, from which search policies and procedures can
be developed, as well as a handy reference guide."
—David Spaulding, President, The Spaulding Group, Inc.
"This book is the definitive work on the investment manager
selection process. It is comprehensive in scope and well organized
for both the layman and the professional. It should be required
reading for any organization or individual seeking talent to manage
—Scott Johnston, Chairman and Chief Investment Officer, Sterling Johnston Capital Management, LP
"Investment Manager Analysis is a much-needed,
comprehensive review of the manager selection process. While the
industry is riddled with information about selecting individual
stocks, comparatively little has been written on the important
subject of manager selection for fund sponsors. This is a
particularly useful guide for the less experienced practitioner and
offers considerable value to the veteran decisionmaker as
—Dennis J. Trittin, CFA, Portfolio Manager, Russell Investment Group
PART ONE: Before the Analysis.
CHAPTER 1: Setting Investment Guidelines.
CHAPTER 2: Investment Manager Sourcing.
CHAPTER 3: Request for Information.
PART TWO: Equity and Fixed Income Manager Analysis.
CHAPTER 4: Performance Analysis.
CHAPTER 5: Risk Analysis.
CHAPTER 6: Portfolio Analysis.
CHAPTER 7: Information Gathering.
CHAPTER 8: Initial Interview.
CHAPTER 9: Attribution Analysis.
CHAPTER 10: Style Analysis.
CHAPTER 11: On-Site Meeting.
CHAPTER 12: Investment Manager Scoring Model.
CHAPTER 13: Background Checks and Contracts.
CHAPTER 14: Fixed Income Manager Analysis.
PART THREE: Alternative Investment Manager Analysis.
CHAPTER 15: Hedge Fund Manager Analysis.