中国证券投资基金业协会首部透视大资管时代下全球金融行业发展前景和动向的重磅之作。

《逐鹿大资管时代(英文版)(精)》遴选了目前资本市场最领先的机构和经济学家的观点，主题覆盖了对冲基金、被动投资、衍生品、私募股权投资、艺术品投资等等方面，帮助读者汲取国际资本市场上的经验和教训，进而对我国市场上存在的问题和机遇有更深入的思考。无论作为从业者的学习资料，还是作为关心我国资本市场发展的普通民众的科普读物，这本书都值得一读。

Praise

Foreword The Asset Management Industry Should Aim to Bee the Role Model for Continuous Learning and the Pioneer of Innovation

Zhang Yujun / Assistant Chairman Of China Securities Regulatory Commission

Preface Managing Assets in a New Age

Part I Macro View

01 Financial Markets: Trust, Regulation and the Rest

Professor John Board / Dean of Henley Business School

Confidence and regulation

InnovationSecuritization

Does history help?

Rebuild confidence

Q&A

02 Global Imbalance, Debt Crisis and China’s Challenges

Yu Yongding / Academic of Chinese Academy of Social Sciences

Global imbalance

The U.S. total debt crisis

America’s measures to address the crisis

China’s challenges

03 Global Market Outlook & Development of Long Term Investment Culture in China

Mark Talbot / Managing Director, Fidelity Worldwide Investment, Asia-Pacific ex-Japan

US leadership

Get active

China’s long-term story

Customer es first

2014 Analyst Survey points to increased ‘Animal Spirits’

Part II Micro View

04 Hedge Fund Developments and Real Operations

Pierre Lagrange / Chairman of Man Group’s Asia Business

Introduction to hedge funds

The development and institutionalization of hedge funds

Regulatory framework for hedge funds

05 The Evolution of the Global Hedge Fund Industry and the Current Regulatory Environment

Andrew Baker / CEO of AIMA

Jiri Krol / Deputy CEO of AIMA

Andrew Baker’s speech

Jiri Krol’s speechQ&A

06 Private Equity Investing: Comparing China with the West

Professor Roger Leeds / School of Advanced International Studies, Johns Hopkins University

AgendaPrivate equity introduction

Why PE in China/Other EMs fundamentally different

The biggest PE challenge in China

Emerging markets private equity: recent trends & performance

Q&A

07 The State of the Investment Management Industry

James M. Norris / Managing Director, Vanguard International

Vanguard’s strategy

Four investor-driven trends

Fee structure revolution

Indexing revolution

08 Evolution of the U.S. Pension System

F. William McNabb III / Vanguard Chairman and CEO

Development phase of the U.S. pension system

Pension Protection Act codified “auto everything”

Rise of the target-date funds

Major challenges in the U.S. system

Regulatory challenges

Lessons China can learn during the journey

09 Derivatives, Options and Short Selling

Nancy Davis / CIO and Managing Partner, Quadratic Capital Management LLC

Dr. David Seif / Director of Research, Quadratic Capital Management LLC

Stefan Gradinaruoll / Columbia Business School

Derivatives

Options

Buying versus selling options

Short selling

Short selling versus shorting by owning put options Conclusion

Part III Strategy

10 The Models for Stock Investment and Risk Control in Emerging Markets

Paul E. Viera / Founder of Earnest Partners LLC

Characteristics of Emerging Markets

Discussion on investment in Emerging Markets

Investment practice in Emerging Markets

Q&A

11 Multi-boutique Model for Asset Management

Barbara A. McKenzie / Senior Executive Director, COO & Boutique Operations for Principal Global Investors

“Multi-Boutique” strategy

The structural benefits of a Multi-Boutique

Global Network Creation and management of a Multi-Boutique

Global Network Client benefits of a Multi-Boutique approach

Management of the boutique work

Q&A

12 Art Investment Funds Landscape

Adriano Picinati di Torcello / Chief of Art Finance of Deloitte Luxembourg

Financialization of the art market: attraction for art as an asset class

Financial performance of the fine art market

How to get a financial exposure to art?

Art investment funds’ main characteristics

Pros and cons of art collective investment scheme

13 The Rise of ETFs in Efficient Capital Market

Jane Leung / Head of iShares Asia Pacific

Market ponents

China’s market development

Future benefits

14 Waterworld: Charting a Passage to Profitable Investment in a World Awash with Artificial Liquidity

Michael Power / Strategist at Investec Asset Management

The destruction of RFRs

Moary policy today

Investment and Waterworld

15 Reshaping the Asset Management Business Model through Providing Solutions

Scott Powers / President and CEO of State Street Global Advisors

1978—1989: The inception of SSGA and growth of indexing in context of the bull markets

1990—1999: The era of global expansion and product diversification led by ETFs 2000—2007: The data revolution and the move toward defined contribution investing

2008 to the present: Post-global financial crisis and the development of integrated solutions

What will asset managers need in the next decade?

16 KKR’s Environmental, Social and Governance Considerations: A Focus on Responsible Investment

Steven R. Okun / Director, Public Affairs, KKR Asia Pacific

Xiang Li / Managing Director, KKR China

KKR’s mitment to ESG and Responsible Investment

KKR’s Global/Local approach in China

A look into Responsible Investment

Responsible investing for the future

17 Are SMEs an Attractive Potential Investment for the Chinese Financial Sector?

Christoph Loch / Dean of Cambridge Judge Business School

Risks of investing in SMEs

Difficulties that SMEs face

Innovation and solutions Conclusion

Q&A

18 Ownerships Models in Asset Management: A Global Perspective

Daniel Celeghin / Partner and Head of Asia-Pacific, Casey Quirk Limited

Changing business environment

Attributes of successful asset management panies

Asset management pany ownership

Conclusions

Q&A