Wealth Management

Dimitris N. Chorafas

370 pages, parution le 17/11/2005

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Résumé

This book has two themes: Private Banking and investment decisions regarding Structural Financial Products. Dr. Dimitris Chorafas examines in a rigorous way whether structured financial products are advisable investments for retail and institutional investors and, if yes, which risks they entail. As our society becomes increasingly affluent, and state-supported pension schemes find it difficult to survive, a growing number of high net-worth individuals, and families, have become retail investors - looking for ways and means to optimize wealth management, and Private Banking deals with these sorts of clients. Private banking also deals with clients that are institutional investors, such as pension funds, mutual funds, and insurance companies, as well as not-for-profits, foundations and companies explicitly set up for wealth management. Both institutional and retail investors are being offered by the banks they work with structured products. Typically, these are securities that provide them with a redemption amount, with may be either with full or partial capital protection, and some type of return. The book examines structured financial products, their polyvalent nature, and the results which could be expected from them.

Return on structural instruments, which are essentially derivatives, is paid in function of a specific investment strategy on selected underlying asset(s). This essentially means on the performance of the underlyings, obtained by asset managers, which may be banks or hedge funds, through purchase or sale of embedded options. But there are risks. Both risk and return from structured products are related to three main issues: the volatility of future value of an underlying, the uncertainty of future events, and the exposure of the product. Every type of investment is subject to market forces, and the more leveraged a portfolio is, the greater will probably be both the assumed risk and the expected reward. The fact that structured financial products appeal, or at least are being marketed, to both retail investors and institutional investors makes the dual approach deliberately chosen in this book most advisable. This book addresses all these issues in a practical manner with numerous case studies and real-world examples drawn from the author's intensive research.

Sommaire

Part one: private banking
- Private banking defined
- Know your customer and his/her profile
- Business opportunity: fees and commissions from private banking
- Risk and return with investments
Part two: asset management
- Asset management defined
- Business models for asset management
- Outsourcing and insourcing assets
- Trust duties and legal risk
Part three: derivative financial instruments, structured products, and risk control
- Derivative financial instruments defined
- Structured financial products
- Controlling the risk taken with structured products
Part four: case studies with three main classes of structured products
- Fixed income structured products
- Practical examples with fixed income derivatives
- Equity-type structured products
- Practical examples with equity type derivatives
- Currency exchange structured products

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Caractéristiques techniques

	PAPIER
Éditeur(s)	Butterworth-Heinemann
Auteur(s)	Dimitris N. Chorafas
Parution	17/11/2005
Nb. de pages	370
Format	17,5 x 24
Couverture	Relié
Poids	770g
Intérieur	Noir et Blanc
EAN13	9780750668552
ISBN13	978-0-7506-6855-2