Delivering Alpha: Lessons from 30 Years of Outperforming Investment Benchmarks

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Delivering Alpha: Lessons from 30 Years of Outperforming Investment Benchmarks

Delivering Alpha: Lessons from 30 Years of Outperforming Investment Benchmarks

Authors: Hilda Ochoa-Brillembourg

Published: December 2018 Pages: 320

eISBN: 9781260441499 | ISBN: 9781260441482

Cover

Title Page

Copyright Page

Dedication

Contents

Preface

Introduction: The Incredible Ride

PART I Portfolio Fit Theory: The Value of an Investment to Your Portfolio

1 Fit Theory

PART II Building the Right Policy Portfolio

2 Meet the Skeptics

3 Investment Policy: Mission Objectives and Needs

4 Liability-Driven Investing: A Brave New World of Fiduciary Issues

5 Moving from Theory to Practice

6 Changing the Policy

7 Selecting Appropriate Benchmarks

8 Rebalancing Versus Tactical Tilts: How Frequently and Why?

9 Policies Are Increasingly Diverging

10 Responsible Investing: One More Source of Divergence

11 The Uses of Volatility

12 Transporting Alphas (or Betas)

PART III Structuring the Asset Class

13 New Maps of Value

14 Where the Structural Tilts Are

PART IV Selecting and Terminating Managers

15 Asking the Right Questions

16 When to Retain a Seriously Underperforming Manager

PART V Measuring and Managing Risks

17 The Boundaries of Risk

18 Nonmarket Risks

PART VI Built to Last: Leadership Attributes, Creative Management, Succession Planning, and Transitions

19 The Wisdom of Teams

20 Governing for Success

Acknowledgments

Appendix: Self-Assessment for Fiduciaries

Glossary of Investment Terms

Notes

Bibliography

Index