Not to be used after March, 2012 Exams – CAIA Level I, 2nd Edition should be used to prepare for September 2012 Exam.
The official study text for the Level I Chartered Alternative Investment Analyst (CAIA) exam
The Chartered Alternative Investment Analyst (CAIA) designationis the financial industry’s first and only globally recognizedprogram that prepares professionals to deal with the ever-growingfield of alternative investments. The CAIA Level I: An Introduction to Core Topics in Alternative Investments containsall material on alternative investments that a potential Level Icandidate would need to know as they prepare for the exam.
The information found here will help you build a solidfoundation in both traditional and alternative investmentmarkets-for example, the range of statistics that are used todefine investment performance as well as the many types of hedgefund strategies. It will also inform CAIA candidates on how toidentify and describe aspects of financial markets, developreasoning skills, and in some cases, make computations necessary tosolve business problems.
* Contains ‘need to know’ material for Level I candidates and foralternative investment specialists
* Addresses all of the unique attributes associated with thealternative investments space
* Organized with a study guide outline and learning objectiveswith key terms, available for free atwww.caia.org/program/studyguides
* Focuses on alternative investments and quantitative techniquesused by investment professionals
This book is a must-have resource for anyone contemplatingtaking the CAIA Level I exam.
Inhoudsopgave
Preface.
Acknowledgments.
About the Authors.
PART I INTRODUCTION TO ALPHA DRIVERS AND BETADRIVERS.
1: What Is an Alternative Asset Class?
2: Why Alternative Assets are Important.
3: The Beta Continuum.
4: Alpha versus Beta.
5: The Calculus of Active Management.
PART II: REAL ESTATE.
6: Real Estate Investment Trusts.
7: Introduction to NCREIF and the NCREIF Indexes.
8: Real Estate as an Investment.
9: Core, Value Added and Opportunistic Real Estate.
PART III: HEDGE FUNDS.
10: Introduction to Hedge Funds.
11: Establishing a Hedge Fund Investment Program.
12: Due Diligence for Hedge Fund Managers.
13: Risk Management Part 1: Hedge Fund Return Distributions.
14: Risk Management Part II: More Hedge Fund Risks.
15: Hedge Fund Benchmarks and Asset Allocation.
16: Hedge Fund Incentive Fees and the Free Option.
17: Hedge Fund Collapses.
18: Top Ten Hedge Fund Quotes.
PART IV: COMMODITIES AND MANAGED FUTURES.
19: Introduction to Commodities.
20: Investing in Commodity Futures.
21: Commodity Futures in a Portfolio Context.
22: Managed Futures.
PART V: PRIVATE EQUITY.
23: Introduction to Venture Capital.
24: Introduction to Leveraged Buyouts.
25: Debt as Private Equity Part I: Mezzanine Debt.
26: Debt as Private Equity Part II: Distressed Debt.
27: Trends in Private Equity.
28: The Economics of Private Equity.
PART VI: CREDIT DERIVATIVES.
29: Introduction to Credit Derivatives.
30: Collateralized Debt Obligations.
31: Risks and New Developments in CDOs.
Appendix A: Basic Principles of Return and Present Value.
Appendix B: Measures of Risk and Risk Management.
Appendix C: Correlation and Regression Analysis.
Appendix D: The Quantitative Analysis of 130/30 Products.
Index.
Over de auteur
Mark J.P. Anson is the President and Executive Director of Investment Services at Nuveen Investments. Previously, he was the chief executive officer of Hermes Pensions Management Ltd. Before joining Hermes, Anson was the chief investment officer of the $245 billion California Public Employees’ Retirement System (Cal PERS)–the largest pension fund in the United States. Anson is the author or coauthor of four financial books, including the Handbook of Alternative Assets (Wiley). He has published over eighty research articles on topics ranging from alpha and beta separation to corporate governance.
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