The Origins of Asset Management from 1700 to 1960 : Towering Investors / by Nigel Edward Morecroft.

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The Origins of Asset Management from 1700 to 1960 : Towering Investors / by Nigel Edward Morecroft.

9783319518503
331951850X
3319518496
9783319518497

Cham : Springer International Publishing : Imprint: Palgrave Macmillan, 2017.

English

1 online resource (xv, 343 pages) : illustrations.

10.1007/978-3-319-51850-3 doi

HG1615.25 .M67 2017

332.09

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.-- Provided by publisher.

Includes bibliographical references and index.

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Palgrave studies in the history of finance.

Print version: 9783319518497

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