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Zusatztext "This is THE book investors -- professional or otherwise -- should read to understand ETFs"- Ben Carlson (@awealthofcs)"This book has an impressive scope and offers good depth across many areas."- David Foulke (@alphaarchitect) Informationen zum Autor ERIC BALCHUNAS is a senior ETF analyst at Bloomberg, where he has more than a decade of experience working with ETF data, designing new functions, and writing ETF research for the Bloomberg terminal. He also writes articles, feature stories, and blog posts on ETFs for Bloomberg.com and appears each week on Bloomberg TV and Radio to discuss ETFs. Klappentext Get up to speed on the booming innovation surrounding institutional ETF usage.The Institutional ETF Toolbox is the institutional investor's guide to utilizing exchange-traded funds and taking full advantage of the innovative new products in their expanding repertoire. The ETF toolbox is expanding rapidly with nearly one new ETF launching every day this decade so far. As with any financial innovation, this phenomenon brings both opportunity and concerns, as well as a dire need for clarity and strong due diligence skills.This book is both reference and resource, providing data-driven explanations backed by real-world market examples--alongside valuable insight from leading practitioners. Coverage includes an examination of the advantages and growth of ETFs as well as current and future uses of ETFs, emerging markets, and the strategic and tactical perspectives you need to effectively use ETFs to optimal effect. The major concerns surrounding ETFs are addressed in full to give you the background you need to formulate a better ETF strategy.ETF allocations are expected to keep growing rapidly across all institutional types, and new and emerging products are becoming more and more liquid allowing easier expression of investment opinion. This book shows you how any investors can utilize these tools to strengthen your portfolio and safely expand into particularly appealing areas.* Understand how the ETF ticks and the how to take advantage of all the myriad of advantages* Learn how to perform effective due diligence using exposure, cost, liquidity, risk and structure* Utilize ETFs for cash equitization, portfolio rebalancing, liquidity management, and more* Learn how ETFs are expanding into equities, fixed income, emerging markets, and alternatives* Learn how to avoid unwanted costs, liquidity issues and hidden complexitiesETF usage is climbing with assets growing by about 25 percent per year, and those who use them expect to expand their usage quickly. The Institutional ETF Toolbox provides the actionable information institutions need to identify and adopt the most suitable approach. Zusammenfassung Get up to speed on the booming innovation surrounding institutional ETF usage. The Institutional ETF Toolbox is the institutional investor's guide to utilizing exchange-traded funds and taking full advantage of the innovative new products in their expanding repertoire. Inhaltsverzeichnis Acknowledgments xiii Introduction: Institutions and ETFs xv Section I: The ETF Phenomenon Chapter 1 Why are ETFs So Popular? 3 Low Cost 4 Liquidity 6 Tax Efficiency 8 Transparency 9 Diversification 11 Easy Asset Allocation 13 Standardization 14 Democratic 16 No Emotion 17 Passive Investing 17 Flexibility 19 Anonymity 20 Price Discovery 21 Fiduciary Vehicles 23 Battle Proven 24 Convenience 24 Notes 25 Chapter 2 ETF Growth 27 Asset Growth 27 ETF Assets in Perspective 29 Trading Growth 30 Product Growth 34 Notes 36 Chapter 3 ETF Mechanics 37 The Story of the ETF 38 The Creation/Redemption Process 42 AMEX Wasn't Alo...
