Palgrave Studies in the History of Finance: Towering Investors

Morecroft, Nigel Edward

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.

Details

Published by: Palgrave Macmillan

Publication Date: 2018-08-30

Format: Paperback

ISBN-13: 9783319847580

DOI: 10.1007/978-3-319-51850-3

Dimensions: 210cm x148cm

Pages: 343