The complete guide to alternative investments, from experts working with CFA Institute
Alternative Investments 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.
Alternative Investments and its accompanying workbook (sold separately) lead students and investment professionals through the many characteristics of non-traditional assets, including:
* Narrow specialization of the investment managers
* Relatively low correlation of returns with those of traditional investments
* Less regulation and less transparency than traditional investments
* Limited historical risk and return data
* Unique legal and tax considerations
* Higher fees, often including performance or incentive fees
* Concentrated portfolios
* Restrictions on redemptions (i.e. ‘lockups’ and ‘gates’)
CFA Institute is the world’s premier association for investment professionals, and the governing body for the CFA¯® Program, CIPM¯® Program, CFA Institute ESG Investing Certificate, and Investment Foundations¯® Program. 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, Alternative Investments offers a complete course in alternative investments and their role in investment management.
A propos de l’auteur
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 170, 000 members in 160+ countries and territories, including 163, 000 CFA¯®; charterholders, and 150+ member societies. For more information, visit www.cfainstitute.org.
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