This book analyses investment management policies for institutional investors. It is composed of four parts. The first one analyses the various types of institutional investors, institutions which, with different objectives, professionally manage portfolios of financial and real assets on behalf of a wide variety of individuals. This part goes on with an in-depth analysis of the economic, technical and regulatory characteristics of the different types of investment funds and of other types of asset management products, which have a high rate of substitutability with investment funds and represent their natural competitors. The second part of the book identifies and investigates the stages of the investment portfolio management. Given the importance of strategic asset allocation in explaining the ex post performance of any type of investment portfolio, this part provides an in-depth analysis of asset allocation methods, illustrating the different theoretical and operational solutions available to institutional investors. The third part describes performance assessment, its breakdown and risk control, with an in-depth examination of performance evaluation techniques, returns-based style analysis approaches, and performance attribution models. Finally, the fourth part deals with the subject of diversification into alternative asset classes, identifying the common characteristics and their possible role within the framework of investment management policies. This part analyses hedge funds, private equity, real estate, commodities, and currency overlay techniques.
This book brings together recent research from across the world on enriched methane, and examines the production, distribution and use of this resource in internal combustion engines and gas turbines. It aims to provide readers with an extensive account of potential technological breakthroughs which have the capacity to revolutionize energy systems. Enriched methane, a gas mixture composed by methane and hydrogen (10-30%vol), constitutes the first realistic step towards the application of hydrogen as an energy vector. It provides strong benefits in terms of emissions reduction, that is -11% of CO2, eq emission with the combustion of a 30%vol H2 mixture, if hydrogen is produced from renewable energy sources. Enriched methane offers the following advantages:o it can be produced at competitive costs; o it can be distributed by means of the medium pressure natural gas grid;o it can be stored in traditional natural gas storage systems;
