DATE AND TIME: 5.30pm May 21
VENUE: Haberdashers' Hall, London, EC1A 9HQ
SUBJECT: Presentation of the Edhec/Misys European Asset Management Practices
On Wednesday May 21, Professor Noel Amenc, professor of finance at Edhec,
the French business school, will present the results of a comprehensive
survey into current practices within the asset management community in
Carried out with support from Misys Asset Management Systems and
Europerformance, Prof Amenc will outline to an audience of industry figures
and journalists the principal results and conclusions of the six month
study. A copy of the full 70-page report will be available to individuals
attending the event. The survey comprised 68 questions, categorised under
three subject areas: investment process strategy; measuring and monitoring
risk; and organisation and information systems. It generated responses from
60 European asset management companies, representing a total volume of Euro
6,211.62 billion of assets under management.
>From the responses received, Edhec has not only drawn up comparisons between
the practices of asset managers from different European countries, but also
studied the application of the research results on portfolio management
within the investment and risk management processes of businesses.
The survey reveals that in spite of their extensive knowledge of the
concepts involved in research into portfolio management and the progress
made, the major European asset managers were either not implementing them or
not adopting them rapidly as part of their investment management process.
Only half carried out a systematic analysis of the extreme risks of the
portfolio being managed. Furthermore, while the multi-factor approach is
commonly used in the field of risk control, it is rarely used for measuring
managers' alphas. In this area, widely criticised methods such as the Sharpe
ratio or peer groups are dominant.
Following the presentation, there will be an opportunity for a question and
answer session with Prof Amenc. To register for the event, contact Carolyn
Essid tel 00 33 492 96 89 50.
For further information on the event, please contact
Becky Couchman / Adelaide Magnier
Tel: + 44 (0) 207 959 5400