Investment Management Finance
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investment management finance
For over 40 years, we have been stewards of capital. We believe that real estate investment can be a catalyst for positive change globally. We take our responsibility to the planet, our investor partners and our people with the highest degree of sincerity and integrity. At LaSalle, delivering investment performance today is all about ensuring a better tomorrow, for all of our stakeholders.
The material is for informational purposes only and should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. Certain products and services may not be available to all entities or persons. Past performance does not guarantee future results. Please note investments in middle market loans are subject to various risk factors, including credit risk, liquidity risk and interest rate risk. Churchill Asset Management LLC is a majority-owned subsidiary and member of the TIAA group of companies.
Investors should conduct their own analysis and consult with professional advisors prior to making any investment decisions. Diversification does not eliminate the risk of experiencing investment loss. Past performance is not a guarantee of future results. Investment process is subject to change.
Assured Investment Management issued its first CLO in 2005 and is now among the largest global issuers of CLOs (Creditflux CLO rankings as of June 30, 2020), regularly issuing CLOs in both the US and Europe. We have a global investor base, and a team based in New York and London. In addition to CLO management, we offer CLO investing capabilities where we deploy capital across the CLO capital structure.
Assured Guaranty Ltd. (NYSE: AGO) (together with its subsidiaries, Assured Guaranty), the leading financial guaranty insurance company, announced today that it has rebranded its asset management subsidiary as Assured Investment Management.
This page should not be used as a basis for making a decision as to whether or not to invest with Assured Investment Management or in products or accounts managed by Assured Investment Management. In making an investment decision, you must rely on your own examination of an investment opportunity and the terms of its offering. You should not construe the contents of this page as legal, tax, investment or other advice, or a recommendation to purchase or sell any particular security.
Rankings, ratings and recognitions by unaffiliated services, companies and/or publications should not be construed by a client or prospective client as a guarantee that he/she/it will experience a certain level of results if Assured Investment Management is engaged, or continues to be engaged, to provide investment advisory services.
Across Wealth Management, Goldman Sachs helps empower clients and customers around the world to reach their financial goals. Our advisor-led wealth management businesses provide financial planning, investment management, banking and comprehensive advice to a wide range of clients, including ultra-high net worth and high net worth individuals, as well as family offices, foundations and endowments, and corporations and their employees. Our direct-to-consumer business provides digital solutions that help customers save and invest. Across Wealth Management, our growth is driven by a relentless focus on our people, our clients and customers, and leading-edge technology, data and design.
Goldman Sachs Private Wealth Management (PWM) specializes in creating comprehensive wealth management plans for ultra-high net worth individuals and families, as well as select institutions, including foundations and endowments. PWM teams work one-on-one with clients to advise and deliver customized strategies drawn from our deep investment experience, diverse wealth management capabilities and global reach. Our Private Wealth Advisors (PWAs) deliver an unparalleled investment platform inclusive of the full product and service offerings of Goldman Sachs and beyond, which may include tax and estate planning, philanthropic planning and private banking and lending services. As client needs evolve, this close relationship allows the team to offer complementary services and new opportunities by leveraging the resources of Goldman Sachs and beyond.
Investment management is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institutions, such as insurance companies, pension funds, corporations, charities, educational establishments, or private investors, either directly via investment contracts or, more commonly, via collective investment schemes like mutual funds, exchange-traded funds, or REITs.
The term asset management is often used to refer to the management of investment funds, while the more generic term fund management may refer to all forms of institutional investment, as well as investment management for private investors. Investment managers who specialize in advisory or discretionary management on behalf of (normally wealthy) private investors may often refer to their services as money management or portfolio management within the context of "private banking". Wealth management by financial advisors takes a more holistic view of a client, with allocations to particular asset management strategies.
The business of investment has several facets, the employment of professional fund managers, research (of individual assets and asset classes), dealing, settlement, marketing, internal auditing, and the preparation of reports for clients. The largest financial fund managers are firms that exhibit all the complexity their size demands. Apart from the people who bring in the money (marketers) and the people who direct investment (the fund managers), there is compliance staff (to ensure accord with legislative and regulatory constraints), internal auditors of various kinds (to examine internal systems and controls), financial controllers (to account for the institutions' own money and costs), computer experts, and "back office" employees (to track and record transactions and fund valuations for up to thousands of clients per institution).
Institutions often control huge shareholdings. In most cases, they are acting as fiduciary agents rather than principals (direct owners). The owners of shares theoretically have great power to alter the companies via the voting rights the shares carry and the consequent ability to pressure managements, and if necessary out-vote them at annual and other meetings.
The price signals generated by large active managers holding or not holding the stock may contribute to management change. For example, this is the case when a large active manager sells his position in a company, leading to (possibly) a decline in the stock price, but more importantly a loss of confidence by the markets in the management of the company, thus precipitating changes in the management team.
The national context in which shareholder representation considerations are set is variable and important. The USA is a litigious society and shareholders use the law as a lever to pressure management teams. In Japan, it is traditional for shareholders to be below in the 'pecking order,' which often allows management and labor to ignore the rights of the ultimate owners. Whereas US firms generally cater to shareholders, Japanese businesses generally exhibit a stakeholder mentality, in which they seek consensus amongst all interested parties (against a background of strong unions and labor legislation).
Conventional assets under management of the global fund management industry increased by 10% in 2010, to $79.3 trillion. Pension assets accounted for $29.9 trillion of the total, with $24.7 trillion invested in mutual funds and $24.6 trillion in insurance funds. Together with alternative assets (sovereign wealth funds, hedge funds, private equity funds, and exchange-traded funds) and funds of wealthy individuals, assets of the global fund management industry totalled around $117 trillion. Growth in 2010 followed a 14% increase in the previous year and was due both to the recovery in equity markets during the year and an inflow of new funds.
The US remained by far the biggest source of funds, accounting for around a half of conventional assets under management or some $36 trillion. The UK was the second-largest centre in the world and by far the largest in Europe with around 8% of the global total.
Ethical or religious principles may be used to determine or guide the way in which money is invested. Christians tend to follow the Biblical scripture. Several religions follow Mosaic law which proscribed the charging of interest. The Quakers forbade involvement in the slave trade and so started the concept of ethical investment.
The different asset class definitions are widely debated, but four common divisions are stocks, bonds, real estate, and commodities. The exercise of allocating funds among these assets (and among individual securities within each asset class) is what investment management firms are paid for. Asset classes exhibit different market dynamics, and different interaction effects; thus, the allocation of money among asset classes will have a significant effect on the performance of the fund. Some research suggests that allocation among asset classes has more predictive power than the choice of individual holdings in determining portfolio return. Arguably, the skill of a successful investment manager resides in constructing the asset allocation, and separating individual holdings, to outperform certain benchmarks (e.g., the peer group of competing funds, bonds, and stock indices). 041b061a72