Almost everyone in the global investment community will have heard the buzz surrounding GTAA, for example the French state pension fund, the Fonds de réserve des retraites (FRR), tendering a GTAA mandate over its EUR 31 billion in assets. Most large institutional investors in the world are contemplating investing in GTAA products, but few are using it effectively.
This compelling report is an essential introduction for portfolio managers, investors and pension fund trustees who want a better understanding of GTAA and the processes generating the investment returns. Written by true insiders working exclusively on GTAA, it is written in a language that every investment professional will clearly understand. It assumes little knowledge of this area, and by presenting and explaining exactly what GTAA is and with the help of case study examples of its use, you will gain all the tools you need to begin using GTAA to enhance returns on your portfolios.
This is an extremely valuable resource for anyone starting to use GTAA as part of their portfolio management strategy.
- Publish date
- 3 Dec 2007
- Executive report
Table of contents
1. The International Investment Environment and the Potential to Create Attractive Investment Returns
Asset Class Return Comparison
Examination of a Single Market: S&P500
Relative Return Opportunities between Asset Classes
Changing Correlations Adversely Impact Strategic Asset Allocations
2. What is Global Tactical Asset Allocation (GTAA)?
Defining Global Tactical Asset Allocation?
The History of Global Tactical Asset Allocation
The Impact of Scope of Investment Opportunities on the Ability to Generate Returns
Where does GTAA fit into the Range between Traditional and Advanced Portfolio Management Techniques?
GTAA versus Macro Long/Short Hedge Funds
What does GTAA do to Generate Investment Returns?
Investment Instruments used by GTAA Products
The Role of GTAA in an Investment Portfolio
3. GTAA Products
GTAA Overlay Products
Multi-Asset GTAA Products
GTAA as Part of a Balanced Mandate or Mix Fund
GTAA Advice Products
Which GTAA Product to Choose
4. How is GTAA managed
5. Risk Management
Techniques for Calculating Risk
Considerations when Calculating Risk
Involvement of Risk Management in Portfolio Management
Risk Systems for GTAA
6. Where Will GTAA Progress from Here?
Development of the Different GTAA Product Types
The Likely "Standardisation"
Continuing Development of GTAA as a Specialist Area
Quantitative versus Qualitative Drivers
Investment Instruments and GTAA
Areas of Investment for GTAA Managers
The Return Generating Potential for GTAA
7. Case Studies: GTAA in Practice
A Pension Fund Invests in GTAA Overlay
A Liability Driven Investment (LDI) Mandate Invests in Dynamic Asset Allocation (DAA)
A Lifecycle Mix Fund uses Active GTAA