The Origins of Asset Management from 1700 to 1960
Towering Investors
Business & Finance, Economics, Economic History, Finance & Investing, Investments & Securities
| Author: | Nigel Edward Morecroft | ISBN: | 9783319518503 |
| Publisher: | Springer International Publishing | Publication: | April 22, 2017 |
| Imprint: | Palgrave Macmillan | Language: | English |
| Author: | Nigel Edward Morecroft |
| ISBN: | 9783319518503 |
| Publisher: | Springer International Publishing |
| Publication: | April 22, 2017 |
| Imprint: | Palgrave Macmillan |
| Language: | English |
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.
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.
