Understanding Investment Management and Selecting the Best Money Managers

NEW BOOKS

How to Select Investment Managers & Evaluate Performance: A Guide for Pension Funds, Endowments, Foundations, and Trusts
by G. Timothy Haight, Stephen O. Morrell, and Glenn E. Ross

Prudent endowment management requires a thorough understanding of investment strategies and a talented money manager, write the authors of this study, G. Timothy Haight, president of Menlo College; Stephen O. Morrell, professor of economics and finance at Barry University: and Glenn E. Ross, a co-founder and managing director of Archstone Portfolio Solutions. Their book seeks to educate trustees about the intricacies of assessing potential risks, evaluating portfolio performance, and other elements of investment management, and offers a primer on how to select a portfolio manager.

Much of the book is devoted to defining and discussing financial basics, including terms like “annualized rates of return” and “return-risk analysis,” so that committees will have sufficient understanding to select portfolio managers and then judge their performance.

The final two chapters offer step-by-step guides to searching for an investment professional and conducting meetings with the entire committee.

Publisher: John Wiley & Sons, 111 River Street, Fourth Floor, Hoboken, N.J. 07030; (201) 748-6000; fax (201) 748-6088; http://www.wiley.com; 260 pages; $85; ISBN 978-0-470-04255-7.