This book explores the origins and development of the asset management profession in Britain as a distinct activity within financial services, independent of banks and stockbrokers. Specifically, it identifies the main individuals and institutions after 1868 who established the profession. The book draws a distinction between banks (short-term deposit-taking) and asset management (an investment service with longer-term objectives). It explains why some banks fail but asset management businesses generally do not. It argues that asset management has been socially useful and has had a beneficial impact on the development of securities markets by offering choices to savers as an alternative to banks, improving the efficiency of capital allocation, re-cycling excess savings productively and enabling a range of investors - from institutions to individuals - to benefit from thoughtful, long-term investing.
| Autorius: | Nigel Edward Morecroft |
| Serija: | Palgrave Studies in the History of Finance |
| Leidėjas: | Springer Nature Switzerland |
| Išleidimo metai: | 2018 |
| Knygos puslapių skaičius: | 360 |
| ISBN-10: | 3319847589 |
| ISBN-13: | 9783319847580 |
| Formatas: | Knyga minkštu viršeliu |
| Kalba: | Anglų |
| Žanras: | Corporate finance |
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