Quantitative Approaches to High Net Worth Investment - Risk Books
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Quantitative Approaches to High Net Worth Investment

Edited By Andrew Rudd and Stephen Satchell


High net worth investment is undergoing a quant revolution.

Wealthy clients expect more sophisticated analysis from their portfolio managers and so the application of quantitative techniques for high net worth (HNW) investing is becoming increasingly popular.

Quantitative Approaches to High Net Worth Investment is the first book-length treatment of quantitative methods for HNW investments for family officers, advisors to family funds, HNW individuals and their wealth managers.

Take a look at the introduction to this guide to get a full understanding how you can benefit or how you can use the learnings to benefit your clients.

Publish date: 28 Apr 2014

Availability: In stock

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Book - Quantitative Approaches to High Net Worth Investment

Book description

High net worth investors’ portfolios have unique demands in order to maintain and preserve their significant worth.

These individuals require personalised services in investment management and estate and tax planning, among others.

This gives HNW investors both distinct risk profiles and investment portfolios. HNW individuals invest in significant real estate beyond a primary residence, financial assets and products with high minimum investments, such as alternatives, collections of art and jewellery, and luxury collectibles, such as cars and boats. 

In addition, HNW investors are now more able to invest in hedge funds as a result of UCITS and MiFID and consequently need to be able to appreciate the risks involved.

Family offices and wealth managers are therefore increasingly using quantitative methods to meet the demands of both the portfolios and investors.

Edited by industry and academic experts Andrew Rudd and Steve Satchell, Quantitative Approaches to High Net Worth Investment brings together a wide variety of studies on the investment behaviour of HNW investors, with a focus on analytical and quantitative techniques. 

Rudd and Satchell have assembled a roster of expert contributors, who span a spectrum of academic and practical approaches and includes authors at leading wealth management organisations.

The book gives practical insights into elements key and specific to high net worth investment including the following:

  • Discretionary wealth management
  • Tax alpha
  • The effect of anxiety on portfolio performance
  • Alternatives and luxury goods, including art
  • Real estate
  • Sustainable spending plans
  • Divorce risk

This reference book is a must-read for family offices and wealth managers looking to expand their client base through the use of more sophisticated, quantitative techniques.

Book details

Book - 9781782720904 / eBook - 9781782721703
Publish date
28 Apr 2014

Editor biography

Andrew Rudd and Stephen Satchell

Andrew Rudd is Chairman and CEO of Advisor Software, Inc., which he founded in 1995 to deliver analytics to the retail financial services global market.  He is an expert in asset allocation, modern portfolio theory, risk management and performance measurement. Andrew is also a co-founder and former chairman and CEO of Barra, Inc. where he served as CEO from 1984 to 1999.  Under his guidance Barra developed risk management technologies, investment portfolio analysis methods, trading technologies and a vision for the modern management of large pools of assets that have subsequently become the professional standard on a global basis. He is the co-author of two industry-leading books on institutional investing, Modern Portfolio Theory: The Principles of Investment Management and Option Pricing.  Andrew was also Professor of Finance and Operations Research at Cornell University in Ithaca, New York.  In addition he has written numerous journal articles and research papers on a wide range of domestic and international investment practices and theories.  Andrew received his BSc degree with honours in Mathematics and Physics from Sussex University in England and earned an MSc in Operations Research, an MBA in Finance and International Business, and a PhD in Finance and Operations Research from the University of California, Berkeley. He also serves as a Trustee of the University of California, Berkeley Foundation and is a member of the Investment Committee of the University of Massachusetts Foundation.

Stephen Satchell was born in New Zealand but has spent his working life in Great Britain; a great deal of it at the University of Cambridge, where he recently retired from his post as the Reader in Financial Econometrics. He focuses on both empirical and theoretical aspects of econometrics, finance, risk measurement and utility theory. His very strong econometric techniques knowledge has proved invaluable for his links with financial institutions.Stephen is a Professor in the Discipline of Finance at Sydney University, a Fellow of Trinity College, Cambridge, and a visiting academic at Royal Holloway College, University of London. He holds two PhDs (Cambridge and London), an MComm (UNSW), an MSc (Sydney) and an MA (Cambridge). He is an Honorary Actuary and senior editor of three journals. He speaks frequently at practitioner conferences globally and locally

He has refereed widely in academic journals and has affiliations with professional bodies in finance. He has published extensively in varied areas of finance, including equity return and risk models, style rotation, asset allocation, trading rules, volatility, option prices, exchange rates, and property markets. He has published in excess of 200 publications, mainly refereed, and edited ten books. His interest in quant and high net worth grew out of his working life as a financial consultant and academic advisor to a range of more traditional wealth managers whom he has shepherded through the interesting transition period, greatly contextualised by the global financial crisis. The Chinese blessing “May you live in interesting times” seems highly appropriate to the time leading up to the joint creation of this book.

Table of contents

Andrew Rudd (Advisor Software) and Stephen Satchell (University of Cambridge)

Discretionary Wealth Management in Practice
Jarrod Wilcox (Wilcox Investment)

Applications of a Non-Parametric Method of Asset Allocation for High Net-Worth Investors
Dan di Bartolomeo (Northfield Information Services)

Tax Alpha
Keith Quinton and Nicolas Brunetti (Fidelity Investments)

Managing Anxiety to Improve Financial Performance: Don’t Let the Best be the Enemy of the Achievable
Greg B. Davies and Antonia Lim (Barclays)

A Dynamic, Three Dimensional Approach, to Risk Rated Investing for Investors
Robert Jukes and Edward Smith (Canaccord Genuity Wealth Management)

Quantifying Expert Opinion in Valuation and Investment: The Role of Tastemakers in Contemporary Art
Anders Petterson (ArtTactic) and Oliver Williams (Markham Rae)

Measuring the Cost of Socially Responsible Investing
Mark Kritzman and Tim Adler (Windham Capital Management) 

Madoff: A Flock of Red Flags
Greg N. Gregoriou (State University of New York (Plattsburgh)) and Francois-Serge Lhabitant (Kedge Capital)

Real Estate: Risk, Return and Diversification
Colin Lizieri and Robert Jalali (University of Cambridge)

High Net Worth Consumption: the Role of Luxury Goods
Stephen Satchell and Nandini Srivastava (University of Cambridge)

Modelling Sustainable Spending Plans for Family Offices, Foundations and Trusts
Stephen Satchell (University of Cambridge) and Susan Thorp (University of Technology, Sydney)

Asset Allocation and Divorce Risk
Bernd Scherer (FTC Capital)

Asset Allocation Decisions for HNW Investors
Andrew Rudd (Advisor Software)

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