Asset Management: A Systematic Approach to Factor Investing

In Asset Management: A Systematic Approach to Factor Investing, Professor Andrew Ang presents a comprehensive, new approach to the age-old problem of where to put your money. Years of experience as a finance professor and a consultant have led him to see that what matters aren’t asset class labels, but instead the bundles of overlapping risks they represent. Factor risks must be the focus of our attention if we are to weather market turmoil and receive the rewards that come with doing so.

Clearly written yet full of the latest research and data, Asset Management is indispensable reading for trustees, professional money managers, smart private investors, and business students who want to understand the economics behind factor risk premiums, to harvest them efficiently in their portfolios, and to embark on the search for true alpha.

Table of Contents

PART I THE ASSET OWNER
CHAPTER 1. Asset Owners
CHAPTER 2. Preferences
CHAPTER 3. Mean-Variance Investing
CHAPTER 4. Investing for the Long Run
CHAPTER 5. Investing Over the Life Cycle

PART II FACTOR RISK PREMIUMS
CHAPTER 6. Factor Theory
CHAPTER 7. Factors
CHAPTER 8. Equities
CHAPTER 9. Bonds
CHAPTER 10. Alpha (and the Low-Risk Anomaly)
CHAPTER 11. “Real” Assets
CHAPTER 12. Tax-Efficient Investing
CHAPTER 13. Illiquid Assets
CHAPTER 14. Factor Investing

PART III DELEGATED PORTFOLIO MANAGEMENT
CHAPTER 15. Delegated Investing
CHAPTER 16. Mutual Funds and Other 40-Act Funds
CHAPTER 17. Hedge Funds
CHAPTER 18. Private Equity