Introduction and Overview

Nigel Edward Morecroft

Chapter 1 in The Origins of Asset Management from 1700 to 1960, 2017, pp 1-11 from Palgrave Macmillan

Abstract: Abstract The asset management profession developed and became established in Britain after 1700. Organised borrowing, supported by the Bank of England and government, developed rapidly as did savings vehicles after 1850 in the form of life assurance, pooled vehicles and pension funds. This work concentrates on the people (Maynard Keynes, Robert Fleming, George Ross Goobey) and the institutions (Foreign & Colonial, M&G) who built the foundations of world-class expertise in asset management, independent from banks. Crises such as the 1929 Crash and the First World War accelerated change in the profession. By 1900, asset management was firmly established as a discrete activity in Britain; it had failed after 1800 in Holland and only became reputable in the USA after about 1930 with people such as Benjamin Graham and organisations like Wellington.

Keywords: Mutual Fund; Pension Fund; Limited Liability; Asset Management; Investment Company (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:psitcp:978-3-319-51850-3_1

Ordering information: This item can be ordered from
http://www.palgrave.com/9783319518503

DOI: 10.1007/978-3-319-51850-3_1

Access Statistics for this chapter

More chapters in Palgrave Studies in the History of Finance from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().