The Politics of Public Fund Investing: How to Modify Wall Street to Fit Main Street

About this book

Until now there has never been a book to help public fund managers direct fixed-income portfolios while simultaneously balancing politics or the need to preserve principal with economics or the need to optimize income. The Politics of Public Fund Investing approaches public fund management from the lay perspective providing much-needed guidance to modify Wall Street strategies to serve the needs of Main Street. If you manage a public fund if you are an elected official or if you oversee a portfolio for a foundation or an endowment you know the traditional money management strategy used every day on Wall Street doesnt necessarily apply to your situation. For you investing isnt simply about economics. Wall Street strategies do not take into account election cycles political risk factors or the unique performance assessments public funds must undergo. When Wall Street builds a portfolio it doesnt need to consider the opinions and desires of a wide variety of constituents and the management of the portfolios performance doesnt carry the same level of career risk. This groundbreaking book is the first resource ever available to the stewards of public fund investing entrusted with the responsibility to make financial decisions in this unique environment. The Politics of Public Fund Investing shows readers how to evaluate and measure their funds performance through specific techniques standards and procedures. It begins by addressing the key differences between Wall Street and Main Street explaining which methods of Wall Street are unsuited to public fund management and why. The book provides a framework for moving from a static investment policy to a dynamic investment plan making the important distinction between what is "legal" in terms of policy and what is "suitable" in terms of the objectives of the stakeholders. The book goes on to propose exceptional and beneficial insights into appraising a funds performance along with providing a four-step process to build a politically correct portfolio. Finally it shows how to be safe and optimize income within the constraints of acceptable risk. Based on years of experience and invaluable research The Politics of Public Fund Investing is an innovative compelling and much-needed guide to navigating the complex territory where the political environment meets public investing.