Principles and policies for in-house asset management

Gordon Clark () and Ashby Monk ()
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Ashby Monk: University of Oxford, Postal: School of Geography & the Environment, Mansfield Rd , Oxford OX1 3TB, United Kingdom, http://www.geog.ox.ac.uk/staff/amonk.html

Journal of Financial Perspectives, 2013, vol. 1, issue 3, 39-47

Abstract: Spurred on by the recent financial crises, a growing number of institutional investors are working to bypass traditional financial intermediaries, agents and centers through the development of in-house teams of investment professionals. As such, the institutional investment community, which is often characterized by broadly diversified and outsourced organizations, is becoming much more involved in the day-to-day asset management of their portfolios. Research shows that this new path offers a variety of important benefits, including higher net-of-fee returns. And yet, there remain significant pitfalls as well. In this paper, we outline the challenges facing would-be “in-sourcers” and offer a series of principles and policies for effective in-house asset management. Drawing on 20 case studies, we conclude that successful in-house asset management is a function of the people, processes, systems and overall resources at the disposal of management.

Keywords: Institutional investors; in-house asset management; asset management; pension funds (search for similar items in EconPapers)
JEL-codes: G11 G23 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jofipe:0036

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