CFA Institute Research Foundation Publishes The Future of Investment Management, by Dr. Ronald N. Kahn
New Monograph Identifies Seven Trends Influencing the Future of Investment Management
New York City, United States 12 Nov 2018
The CFA Institute Research Foundation, a research arm of CFA Institute which sponsors independent, in-depth research on issues important to global investment professionals, announces today the publication of The Future of Investment Management. The book provides insights from Dr. Ronald N. Kahn, managing director and global head of systematic equity research at BlackRock, into how the investment management landscape is changing.
The new book explores key ideas and trends that have influenced the industry over the centuries, from its earliest recorded history in 1700s Netherlands to the present day and looks ahead to how the industry might progress in the next 5-10 years. Against the present-day backdrop of rapid change, Dr. Kahn analyzes how our understanding of risk and expected returns has evolved, and how seven recent trends will shape the future of investment management. These trends include the shift in assets from active to passive investing, the increase in competition among active managers, a changing market environment, the emergence of big data, the development of smart beta, increased interest in investing for non-return objectives, and fee compression.
At the heart of Dr. Kahn’s research is an optimistic message: although the profession is in a state of flux, this disruption can present great opportunities, particularly for those just entering the profession. Technological advances and the shifting boundaries between active and passive investing will make way for new products and sources of information which can help managers outperform, and help clients to achieve their objectives.
According to Stephen Boyd, Samsung Professor of Electrical Engineering, Stanford University, and head of BlackRock’s Artificial Intelligence Lab: The Future of Investment Management “takes the long and wide view of the field, weaving prehistory, recent trends, and the future into one coherent story, with themes of diversification and risk, information, and technology.”
Bud Haslett, CFA, executive director of the CFA Institute Research Foundation, says: “I found this to be a captivating read and am proud that it is published by the Research Foundation. It has global relevance and is useful for everyone, from an investment industry newbie all the way up to an old-timer like me.”
Dr. Kahn is a managing director and global head of systematic equity research at BlackRock. An expert on portfolio management, risk modeling, and quantitative investing, Dr. Kahn has published numerous articles on investment management and serves on the editorial advisory boards of the Financial Analysts Journal, the Journal of Portfolio Management, and the Journal of Investment Consulting. Kahn also teaches “International Equity and Currency Markets” in the Master of Financial Engineering Program and the University of California, Berkeley, and is the recipient of the 2013 James R. Vertin award from the CFA Institute Research Foundation, which recognizes individuals who have produced a body of research notable for its relevance and enduring value to investment professionals.
Available in paperback from Amazon. Also available as an e-book from CFA Institute using the following link: https://www.cfainstitute.org/en/research/foundation/2018/future-of-investment-management
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 165,000 CFA charterholders worldwide in 163+ countries and regions. CFA Institute has eight offices worldwide, and there are 151 local member societies. For more information, visit www.cfainstitute.org or follow us on Twitter at @CFAinstitute and on Facebook.com/CFAInstitute.
CFA Institute Research Foundation
The CFA Institute Research Foundation is a not-for-profit organization established to promote the development and dissemination of relevant research for investment practitioners worldwide. The foundation’s mission is to fund, publish, and distribute comprehensive, high-quality, independent research relevant to the global investment community. For more information, visit www.cfainstitute.org/research/foundation or follow us on Twitter at @CFAResearchFndn and on LinkedIn.com/Showcase/Research-Foundation.