Despite the accepted fact that a substantial part of the risk and return of any portfolio comes from asset allocation, we find today that the majority of investment professionals worldwide are focused on security selection. Multi-Asset Investing: A Practitioner’s Framework questions this basic structure of the investment process and investment industry. Who says we have to separate alpha and beta? Are the traditional definitions for risk and risk premium relevant in a multi-asset class world? Do portfolios cater for the ‘real risks’ in their investment processes? Does the whole Emerging Markets demarcation make sense for investing? Why do active Asian managers perform much poorer compared to developed market managers? Can you distinguish how much of a strategy’s performance comes from skill rather than luck? Does having a performance fee for your manager create alignment or misalignment? Why is the asset management transitioning from multi-asset strategies to multi-asset solutions? These and many other questions are asked, and suggestions provided as potential solutions. Having worked together for fifteen years, the authors’ present implementable solutions which have helped them successfully manage large asset pools. The Academic Perspective “Multi-Asset Investing asks fundamental questions about the asset allocation investment processes in use today, and can have a substantial impact on the future structure of the finance industry. It clarifies and distils the techniques that investment professionals need to master to add value to client portfolios.” —Paul Smith, President & CEO, CFA Institute “Pranay Gupta, Sven Skallsjo, and Bing Li describe the essential concepts and applications of multi-asset investing. Their treatment is far ranging and exceptionally lucid, and always with a nod to practical application. Buy this book and keep it close at hand.” —Mark Kritzman, MIT Sloane School of Management “Innovative solutions to some of the most difficult investment problems we are faced with today. Multi-asset Investing tackles investment issues which don’t have straight forward solutions, but nevertheless are faced by every investment professional. This book sets the standard for investment processes of all asset managers.” —SP Kothari, MIT Sloane School of Management The Asset Owner Perspective “Multi-asset means different things to different people. This is the first text that details a comprehensive framework for managing any kind of multi-asset investment problem. Further, its explanation of the commercial aspects of managing a multi-asset investment business for an asset manager, private bank or asset owner make it an indispensable tool” —Sadayuki Horie, Dy. Chairman - Investment Advisory Comm., Government Pension Investment Fund, Japan “Multi-Asset Investing shows the substantial scope there is to innovate the asset allocation process. With its novel approaches to allocation, portfolio construction and risk management it demonstrates the substantial value that can be added to any portfolio. The solutions proposed by Multi-Asset Investing are creative, thought provoking, and may well be the way all portfolios need to be managed in the future.” —Mario Therrien, Senior Vice President, Caisse de Depot et Placement du Quebec, Canada The Asset Manager’s Perspective “Never has astute asset allocation and diversification been more crucial than today. Asset Managers which are able to innovate their investment processes and products in this area, are more likely to be the winners. Multi-Asset Investing provides both simple and sophisticated, tested and implementable techniques for successfully managing multi-asset portfolios.” —Vincent Camerlynck, former CEO BNP Paribas Investment Partners, Asia Pacific The Investment Strategist Perspective “For plan sponsors, portfolio managers, analysts and risk managers, Multi-Asset Investing is an unparalleled guide for portfolio management. Its approach to blending the quantitative and fundamental, top-down and bottom up and the risk and return frameworks makes it a valuable tool for any kind of investment professional. It clarifies a complex subject into a series of practical ideas to help add value to any portfolio.” —Ajay S. Kapur, Chief Strategist, BOA Merrill Lynch Asia
This extraordinary book, written by leading players in a burgeoning technology revolution, is about the merger of finance and technology (fintech), and covers its various aspects and how they impact each discipline within the financial services industry. It is an honest and direct analysis of where each segment of financial services will stand. Fintech: The New DNA of Financial Services provides an in-depth introduction to understanding the various areas of fintech and terminology such as AI, big data, robo-advisory, blockchain, cryptocurrency, InsurTech, cloud computing, crowdfunding and many more. Contributions from fintech innovators discuss banking, insurance and investment management applications, as well as the legal and human resource implications of fintech in the future.
In Search of an Adarsh Indian State In India, public policies are all around us. Despite this pervasiveness, yeh public sab nahin jaanti hai (the public doesn't know it all). Questions are rarely asked of the Indian State-the institution that makes rules, bends them and punishes others for breaking the laws it creates. The privileged can afford not to think about the State because we have given up on it. The not-so-privileged have resigned themselves to a State that provides short-term benefits. Either way, we seldom pause to reflect on why the Indian State works the way it does. Missing in Action aims to change such perceptions through sketches from everyday experiences to illustrate India's tryst with public policymaking. It acquaints the reader with some fundamental concepts of the public policy discipline. It explains the logic (or the lack of it!) of the Indian State's actions, shortcomings, constraints, and workings. Jargon-free and accessibly written, the book achieves the difficult task of both entertaining and educating. There have been many books about Indian society, but none so far about the Indian state. Missing in Action fills that gap, and how! Kotasthane and Jaitley are two of our finest thinkers, and their writing combines a surgeon's precision with a poet's art of revealing the unseen. They paint both the big picture and the small details. This book is a masterpiece that will be essential reading 50 years from now. If you want to understand India, you should read Missing in Action. Amit Varma, Creator of The Seen and the Unseen Podcast and The India Uncut Blog Missing in Action is a thoroughly engaging, entertaining, and educational book. The book helps readers understand why the Indian State is the way it is-powerful yet ineffective, well-intentioned yet weak, and ambitious yet underperforming. A must-read for everyone! Rohini Nilekani, Philanthropist, Author of Samaaj Sarkaar Bazaar: a citizen-first approach The policy outcomes are the result of the three important forces: society, market and the Government. This wonderful book by Pranay Kotasthane and Raghu S. Jaitley beautifully tells you why and how this happens. Their pedagogical strategy is deceptively simple but very effective. The book has many real-life examples of both policy triumphs and disasters in our country and the authors lucidly explain the how and why. I would urge you to read this remarkably perceptive book that is analytically rich while making the learning ride very enjoyable. Vijay Kelkar, Chairman, Thirteenth Finance Commission and former Finance Secretary, Government of India
Education for Sustainable Development (ESD) has emerged as a critical framework for addressing global challenges in the 21st century. As we navigate complex environmental, social, and economic issues, the role of education in fostering sustainable practices becomes increasingly paramount. This edited volume, Education for Sustainable Development: Perspectives and Practices, seeks to illuminate the multifaceted nature of ESD through diverse perspectives and practical examples from around the world.
The first major biography of Indira Gandhi covers the breadth and scope of 20th-century India and the woman who left her indelible mark on that troubled country. Both widely supported and bitterly opposed, she was eventually removed from office, only to make a stunning comeback.
This textbook comprehensively covers the fundamental concepts of tillage operation, including all the three kinds of tillage implements, viz. passive, active and combination. It discusses functional analysis, principle of operation, and testing of main tillage machinery. This textbook includes the design procedure and numerical examples to reinforce the theoretical concepts. It incorporates a lucid style of writing with easy-to-understand design procedure of different tillage implements. This textbook is highly useful for graduate and postgraduate students studying farm machinery and power engineering, design of agricultural machines, and allied fields.
At the age of fifty, when most people start planning for retirement, Dr Prathap Chandra Reddy decided that he was going to revolutionize healthcare in India. In 1983, the renowned cardiologist launched the country’s first professionally run private sector hospital system. Thirty years later, Apollo Hospitals has become one of the world’s largest providers of high-technology healthcare. In the areas of heart, liver and bone marrow transplants, as also in knee and hip replacement surgery and robotic surgery, Apollo is an industry pioneer and a world leader. More than 32 million men and women have been treated at Apollo’s fifty hospitals, which are staffed by over 70,000 professionals. How did Prathap Chandra Reddy, who grew up in the small village of Aragonda in Andhra Pradesh, actualize his dream? How did he overcome the seemingly insurmountable odds and transform the sustainable development space? How did he become one of India’s enduring icons? Full of delightful anecdotes and dramatic twists and turns, The Healer tells Dr Reddy’s inspirational story like it has never been told before.
To the world at large, technology was synonymous with software. Within months, the subject of such conversations has changed dramatically. Today, the hardware that runs all software - semiconductors or chips - has become a subject of WhatsApp groups and international politics. The chip shortage during COVID-19 made governments take notice of this complex supply chain. The US began denying advanced semiconductors to Chinese companies. Worsening China-Taiwan relations further intensified the debate. By 2022, China, the US, India, the EU, and Japan had released plans worth billions of dollars for setting up new semiconductor facilities. This book is a comprehensive overview of this “meta-critical” technology. How are semiconductors important from a geopolitical perspective? Why did the US and Taiwan become powerhouses in this domain while Russia and India fell behind? Is China's semiconductor sector a threat to the world? What are the future trends to watch out for? These are the questions that this book answers.
Education is a very common ad globally widespread term and in one way or other appears to be as old as mankind, though during the time, its concept, meaning, objectives and modes of delivery have inevitably remained in a constant flux. As a student of education, and as a prospective teacher, it is vital for us to understand the nature, meaning and concept of education and different perspectives that have shaped its context from time to time. Understanding the meaning and concept of education will help us to develop insights about the various processes of education. Education is considered both a field of knowledge and an area of operation. As a field of knowledge, it deals with a number of concepts, ideas, principles and thoughts which are educative in nature. On another side, education is a field of practice. Educational practices occur in different environments, namely formal, non-formal and informal environments. Education operates in a wide spectrum of situations both at macro and micro levels.
Introduction Education is a complex process which involves different components such as pupils, teachers, employees, building, money, equipment, rules and regulations etc. All these components have to be managed properly in order to run the entire process smoothly. Educational Administration deals with all these components of education and integrates the different parts into a comprehensive whole for the smooth functioning of educational process. We all know that for any process to run, we need different components, a proper procedure and a machinery to fulfill its specific end in view. Educational administration is a comprehensive effort to integrate different components of education to achieve the aim and objectives of education. It is a dynamic side of education, which generally deals with the educational practices. Educational administration always deals with an educational organization or institution right from school, college, to university or any other seat of higher learning. It also deals with the different aspects of education such as planning, decision making, implementation of educational policies, evaluation, framing and implementing rules and regulations of the institution, finances, and different problems of pupils, teachers, employees and above all, realization of some specific aims of education.
Technology has revolutionized the way we live, learn, work, and play. It has transformed the way we teach and learn, and it has opened the doors to new opportunities and possibilities for education. With the emergence of new digital technologies, the face of education is changing rapidly. The use of technology in education has opened up a world of possibilities and resources. Educational technology, also known as Ed-tech, is the use of digital tools and resources to support teaching and learning. It includes the use of software, hardware, and other tools for the purpose of teaching and learning.
Despite the accepted fact that a substantial part of the risk and return of any portfolio comes from asset allocation, we find today that the majority of investment professionals worldwide are focused on security selection. Multi-Asset Investing: A Practitioner’s Framework questions this basic structure of the investment process and investment industry. Who says we have to separate alpha and beta? Are the traditional definitions for risk and risk premium relevant in a multi-asset class world? Do portfolios cater for the ‘real risks’ in their investment processes? Does the whole Emerging Markets demarcation make sense for investing? Why do active Asian managers perform much poorer compared to developed market managers? Can you distinguish how much of a strategy’s performance comes from skill rather than luck? Does having a performance fee for your manager create alignment or misalignment? Why is the asset management transitioning from multi-asset strategies to multi-asset solutions? These and many other questions are asked, and suggestions provided as potential solutions. Having worked together for fifteen years, the authors’ present implementable solutions which have helped them successfully manage large asset pools. The Academic Perspective “Multi-Asset Investing asks fundamental questions about the asset allocation investment processes in use today, and can have a substantial impact on the future structure of the finance industry. It clarifies and distils the techniques that investment professionals need to master to add value to client portfolios.” —Paul Smith, President & CEO, CFA Institute “Pranay Gupta, Sven Skallsjo, and Bing Li describe the essential concepts and applications of multi-asset investing. Their treatment is far ranging and exceptionally lucid, and always with a nod to practical application. Buy this book and keep it close at hand.” —Mark Kritzman, MIT Sloane School of Management “Innovative solutions to some of the most difficult investment problems we are faced with today. Multi-asset Investing tackles investment issues which don’t have straight forward solutions, but nevertheless are faced by every investment professional. This book sets the standard for investment processes of all asset managers.” —SP Kothari, MIT Sloane School of Management The Asset Owner Perspective “Multi-asset means different things to different people. This is the first text that details a comprehensive framework for managing any kind of multi-asset investment problem. Further, its explanation of the commercial aspects of managing a multi-asset investment business for an asset manager, private bank or asset owner make it an indispensable tool” —Sadayuki Horie, Dy. Chairman - Investment Advisory Comm., Government Pension Investment Fund, Japan “Multi-Asset Investing shows the substantial scope there is to innovate the asset allocation process. With its novel approaches to allocation, portfolio construction and risk management it demonstrates the substantial value that can be added to any portfolio. The solutions proposed by Multi-Asset Investing are creative, thought provoking, and may well be the way all portfolios need to be managed in the future.” —Mario Therrien, Senior Vice President, Caisse de Depot et Placement du Quebec, Canada The Asset Manager’s Perspective “Never has astute asset allocation and diversification been more crucial than today. Asset Managers which are able to innovate their investment processes and products in this area, are more likely to be the winners. Multi-Asset Investing provides both simple and sophisticated, tested and implementable techniques for successfully managing multi-asset portfolios.” —Vincent Camerlynck, former CEO BNP Paribas Investment Partners, Asia Pacific The Investment Strategist Perspective “For plan sponsors, portfolio managers, analysts and risk managers, Multi-Asset Investing is an unparalleled guide for portfolio management. Its approach to blending the quantitative and fundamental, top-down and bottom up and the risk and return frameworks makes it a valuable tool for any kind of investment professional. It clarifies a complex subject into a series of practical ideas to help add value to any portfolio.” —Ajay S. Kapur, Chief Strategist, BOA Merrill Lynch Asia
This extraordinary book, written by leading players in a burgeoning technology revolution, is about the merger of finance and technology (fintech), and covers its various aspects and how they impact each discipline within the financial services industry. It is an honest and direct analysis of where each segment of financial services will stand. Fintech: The New DNA of Financial Services provides an in-depth introduction to understanding the various areas of fintech and terminology such as AI, big data, robo-advisory, blockchain, cryptocurrency, InsurTech, cloud computing, crowdfunding and many more. Contributions from fintech innovators discuss banking, insurance and investment management applications, as well as the legal and human resource implications of fintech in the future.
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