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Financial Times Guide to Exchange Traded Funds and Index Funds, The: How To Use Tracker Funds In Your Investment Portfolio, 2nd Edition
- By David Stevenson
- Published Oct 12, 2012 by FT Publishing International.
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Description
- Copyright 2013
- Edition: 2nd
- eBook (Adobe DRM)
- ISBN-10: 0-273-76941-3
- ISBN-13: 978-0-273-76941-5
Since the first edition of The Financial Times Guide to ETFs was published in 2009, the number of ETFs in issue has doubled and ETFs are now common both on investor platforms and increasingly amongst financial advisors. This massive increase in demand has highlighted an urgent debate – just how dangerous are ETFs and how much do investors and advisers understand about the structure of the index tracker?
The second edition of this book attempts to answer this debate and is the indispensable bible on trackers for professional advisers and serious private investors.
This new edition also features a chapter based around the theme of Due Diligence and a new chapter on How to use ETFs and Index Funds for theLong-term, as well as a new Jargon busting section and a-new appendix looking at new ideas beginning to emerge.
Sample Content
Table of Contents
INTRODUCTION – By Matthew Vincent, FT
CHAPTER 1 – Investing 2.0 The Revolution Begins
· Decline of the stockpicker and now the decline of active fund manager
· Need to emphasize cost in this low return world
· Investors waking to the reality that they have to diversify especially after bear markets
· The rise of asset class investing, related to but separate from ETfs and index funds
· The rise of the dreaded term beta…
CHAPTER 2 – A BIT OF THEORY
- Where it all came from academically. The academic revolt
- The efficient markets theory
- The fundamentalists wade in
- The first ETF structures and index funds. The legendary John Bogle and the Vanguard Phenomena
CHAPTER 3 – WHAT ARE INDEX OR TRACKER FUNDS?
- Index mutual funds and how they developed from these into these…
- Exchange Traded funds, US Style
- European ETFs – the rise of the swap
- ETNs in the US and certificates in Europe
- ETCs (commodities) and synthetic ETFs
- The mechanics – full replication, partial replication, fully synthetic replication
- Comparing ETFs vs traditional mutual funds vs index mutual funds
- Advantages of different structures and the regulatory structure
- New innovations – inverse ETFs, multi-ETF portfolios, actively managed ETFs
CHAPTER 4 – THE FIDDLY DETAIL….RISKS, CAVAETS and the INIDICES
- What to watch out for – premiums/discounts, tax complications, tracking error, charging (some are expensive – the 1% rule)
- Counter Party Risk
- Why the index matters – not all indices created equally. Some are too concentrated, carry currency risks, aren’t very liquid, and some are just pointless
CHAPTER 5 – THE RISE OF THE FUNDAMENTALISTS
Guest writer – Rob Davies, fund manager of the Munro Fund, a fundamental index fund
- The academic theory surrounding fundamental indexing
- Does it work ? The results so far
- How to implement it via a fund – black boxes, dividends and the measures used
- Will it work in the future – might value investing be dead ?
CHAPTER 6 – BIG THEME INVESTING AND INDEX FUNDS
Guest Writer – Stephen Barber, Head of Research at Selftrade
- Momentum investing works and particularly a focus on big themes, big structural changes
- Emerging Markets
- Alternative Assets
- New Energy and Green markets
- Infrastructure and utilities
- Commodities
CHAPTER 7 – RUNNING A PORTFOLIO : SOME BASICS
Guest Writer – James Norton, Head of investment at Evolve Financial Planning
- A passive portfolio – why it matters vs Active
- Buy and Hold
- Asset Allocation explained – correlation and diversification
- Inflation
- Income investing
- Long Term returns ?
- The GlidePath
CHAPTER 8 – ACTIVE PORTFOLIOS USING ETFS
Guest Writer – Mark Glowrey, Investors Intelligence
- How to combine ETFs into an active portfolio using technical analysis
- The measures sued
- Running the portfolio
CHAPTER 9 – PUTTING IT ALL TOGETHER INTO A PORTFOLIO THAT WORKS FOR YOU !
- Asset Class Investing
- Value vs Growth vs Momentum – all work but difficult to capture these strategies
- Importance of international diversification
- Lazy Portfolios and why they’re so useful
- The idea behind building your own MASTER PORTFOLIOS
- Lifeycle Investing
- Our MASTER PORTFOLIOS – the assumpti
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