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The Origins of Asset Management from 1700 to 1960

Towering Investors. Palgrave Studies in the History of Finance

Format: Paperback / softback
Publisher: Springer International Publishing AG, Cham, Switzerland
Published: 30th Aug 2018
Dimensions: w 142mm h 207mm d 26mm
Weight: 470g
ISBN-10: 3319847589
ISBN-13: 9783319847580
Barcode No: 9783319847580
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Synopsis
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.

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