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Origins of Asset Management from 1700 to 1960 : Towering Investors (Hardcover) (Nigel Edward Morecroft)
About this item
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.
Number of Pages: 343
Genre: Business + Money Management
Series Title: Palgrave Studies in the History of Finance
Publisher: Springer Verlag
Author: Nigel Edward Morecroft
Street Date: May 3, 2017
Item Number (DPCI): 248-41-2979
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