Alternative Investments


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ISBN: 9781119850601 Category:

<p><b>The complete guide to alternative investments, from experts working with CFA Institute</b></p> <p><i>Alternative Investments</i> is the definitive guide to understanding non-traditional asset classes. Alternatives are a disparate group of investments that are distinguished from long-only, publicly traded investments in stocks, bonds, and cash (often referred to as traditional investments). Alternative investments include real estate, commodities, infrastructure, and other non-traditional investments such as private equity or debt and hedge funds. They are attractive to investors because of the potential for portfolio diversification resulting in a higher risk-adjusted return for the portfolio.</p> <p><i>Alternative Investments</i> and its accompanying workbook (sold separately) lead students and investment professionals through the many characteristics of non-traditional assets, including:</p> <ul> <li>Narrow specialization of the investment managers</li> <li>Relatively low correlation of returns with those of traditional investments</li> <li>Less regulation and less transparency than traditional investments</li> <li>Limited historical risk and return data</li> <li>Unique legal and tax considerations</li> <li>Higher fees, often including performance or incentive fees</li> <li>Concentrated portfolios</li> <li>Restrictions on redemptions (i.e. &ldquo;lockups&rdquo; and &ldquo;gates&rdquo;)</li> </ul> <p>CFA Institute is the world’s premier association for investment professionals, and the governing body for the CFA<sup>&reg;</sup> Program, CIPM<sup>&reg;</sup> Program, CFA Institute ESG Investing Certificate, and Investment Foundations<sup>&reg;</sup> Program.&nbsp;Those seeking a deeper understanding of the markets, mechanisms, and use of alternatives will value the level of expertise CFA Institute brings to the discussion, providing a clear, comprehensive resource for students and professionals alike. Whether used alone or in conjunction with the companion workbook,&nbsp;<i>Alternative Investments</i>&nbsp;offers a complete course in alternative investments and their role in investment management.</p>