The Origins of Asset Management from 1700 to 1960: Towering Investors By Nigel Edward Morecroft
English | PDF | 2017 | 353 Pages | ISBN : 3319518496 | 15.05 MB
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.