EBooks

Both commodities and inflation-linked products have gained interest in recent years as alternatives and complements to traditional asset classes. The growth in investors’ participation in these markets is a global phenomenon, clearly evident in the increasing volume and types of instruments traded in both the spot and derivatives markets.

In Inflation Sensitive Assets: Instruments and Strategies Stefania Perrucci and Brice Benaben bring together different points of view and practical insights from active market participants including investment banks, asset management, pension funds and central banks.

Designed for practitioners, the book includes important academic contributions, and will be of interest to portfolio managers, risk managers, plan sponsors and researchers alike.

“This book provides an essential resource for investors, consultants and service providers keen to preserve wealth”
Mihir Worah,
Managing Director, Head of Real Return Portfolio Management, PIMCO

This book edited by industry expert Michael Ong explores how capital is measured and managed by banks and other financial institutions and how current techniques should be improved to address the issues highlighted in the recent crisis.

The first part covers the issues of capital management, allocation, risk attribution and performance determination. The second part focuses on the measurement of
capital. The book is essential for all who witnessed the devastating effects of the crisis, due fundamentally to undercapitalisation.

"...covers all key features of the post-crisis regulatory and risk-management scenario..."

Andrea Resti, Bocconi University

"...The book comes out at an opportune moment to refocus our attention to the basic concepts of economic and regulatory capital."

Ashish Dev, Managing Director, JP Morgan Chase

This fully updated and revised second edition of the best-selling guide Risk Budgeting expands upon the first edition, continuing to provide a road map for more effective risk allocation and better return per unit of risk taken.  This edition reflects in particular the growing focus on risk appetite and governance in the risk budgeting environment.

Another area of focus is Value-at-risk, with a chapter dedicated to the debate. You can read an extract of the chapter here

The financial crisis that began in 2007 has led to a sea-change in the regulation of the banking and insurance sectors. The impact of the economic environment and the regulatory changes on financial institutions is unprecedented.  In response to the deficiencies in financial regulation revealed by this crisis, the Basel Committee on Banking Regulation set their global regulatory standards for banks in stone in the form of the Basel III guidelines, published in December 2010.

Insurance companies, which are increasingly regulated like banks, have been implementing the Solvency II Directive in Europe or its components in North America (which are considered parallel to the Basel guidelines). Both the banking and insurance sectors will be affected by Phase II of The International Financial Reporting Standard (IFRS), providing common ground between the two. Adapting to Basel III and the Financial Crisis presents an integrated view of these two industries, providing the reader with a comprehensive guide to the complexities of the new regulations while focusing on solutions rather than problems.