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Global Banking$
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Roy C. Smith, Ingo Walter, and Gayle DeLong

Print publication date: 2012

Print ISBN-13: 9780195335934

Published to Oxford Scholarship Online: May 2012

DOI: 10.1093/acprof:oso/9780195335934.001.0001

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Institutional Asset Management

Institutional Asset Management

Mutual Funds and Pension Funds

(p.206) Chapter 9 Institutional Asset Management
Global Banking

Roy C. Smith

Ingo Walter

Gayle Delong

Oxford University Press

This chapter discusses six important points about the asset-management industry: The industry is likely to grow substantially in the years ahead. Despite the prospects for rapid growth, the structure of the asset-management industry is likely to reflect a high degree of contestability. The rapid evolution of the institutional asset-management industry will have a major effect on financial markets. Cross-border asset allocation will grow disproportionately as a product of institutional investors’ search for efficient portfolios through international diversification. The development of deeper and broader global capital markets will fundamentally change the market for corporate control into a much more fluid one focused on financial performance and shareholder value. Developments in institutional asset management will pose strategic challenges for the management of banks and other traditional financial institutions.

Keywords:   asset management, corporate control, cross-border asset allocation

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