TY  - BOOK
AU  - Bares,Brian T.
TI  - The small-cap advantage: how top endowments and foundations turn small stocks into big returns 
T2  - [Wiley finance]
SN  - 9780470615768
AV  - HG4971 B223 S 2011
PY  - 2011///
CY  - Hoboken, N.J.
PB  - Wiley
KW  - Small capitalization stocks
KW  - Institutional investors
KW  - Endowments
KW  - Finance
KW  - Portfolio management
KW  - Investment advisors
N1  - The Small-Cap Advantage --; Two Sources of Outperformance --; Small-Cap Definitions --; The Outperformance of Small-Cap Stocks --; Outperformance within the Small-Cap Space --; Chapter Summary --; Small-Cap Disadvantages --; Research --; Trading --; The Small-Cap Graveyard and Reverse Survivorship Bias --; Capping Assets --; Chapter Summary --; Small-Cap Investment Philosophy and Process --; Institutional Approach --; Passive and Enhanced Indexing in Small-Cap Stocks --; Active Management in Small-Cap Stocks --; Chapter Summary --; Small-Cap Manager Organization --; Creating Value for the Manager --; Launching a Small-Cap Firm --; Investment Team --; Chapter Summary --; The Fund-Raising Process --; General Marketing Strategy --; Institutional Clients --; Foundations and Endowments --; Consulting Firms; Pension Plans --; High-Net-Worth Individuals --; Wrap Fee and Other Subadvisory Relationships --; Databases --; Third-Party Marketers --; The Chicken-and-Egg Problem --; Chapter Summary --; Fees, Agency Issues, and Other Performance Drags --; Common Performance Drags --; Frictional Costs in Small Caps --; Institution-Manager Agency Issues --; Agency Issues in Trading --; Benchmark Tyranny --; Commingled and Separate Accounts --; Chapter Summary --; Small-Cap Managers and the Endowment Model --; The Endowment-Model Approach to Small Caps --; Finding an Edge --; Funding Smaller Managers --; Funding Emerging Managers --; Finding Emerging Managers --; Chapter Summary --; Evaluating Small-Cap Managers --; Institutional Due Diligence Teams --; Assessing Manager Risk --; Assessing Investment Philosophy --; Analyzing a Manager's Process --; Evaluating Firm Principals --; Assessing Manager Operations --; Contributions and Withdrawals --; Chapter Summary; HKBU library; YT2025 M09
N2  - The historical returns of small-cap stocks have exceeded those of mid-cap and large-cap stocks over long time periods. The additional return experienced by small-cap investors has occurred despite inherent disadvantages in the asset class; The excess return available from small-cap stocks can help large foundations, endowments, and other similar institutional investors overcome the drag of inflation and the drain of annual spending. These institutional investors are in a unique position to fund new and often untested managers who are in the best position to benefit from the return premium of small-cap stocks and from the relative lack of professional participation in the space; The Small-Cap Advantage: How Top Endowments and Foundations Turn Small Stocks into Big Returns is a must-have book for aspiring and existing small-cap managers and the institutions that would hire them. It is an insider's account of institutional small-cap investing. The book details the investment, fundraising, and operational challenges encountered by small-cap managers; The Small-Cap Advantage helps aspiring small-cap managers understand the state of the institutional investment management industry. It debunks the notion that small-cap managers who lack long track records or high levels of assets under management are undeserving of institutional funding. It explains the fundraising process for aspiring small-cap managers and how they can handle many of the challenges that come with successfully increasing strategy assets; The Small-Cap Advantage provides endowment-model institutions with a deeper understanding of the unique issues faced by specialist boutique managers who focus on the small-cap space. It will also assist institutional due diligence teams in their evaluation of small-cap managers. --Book Jacket
ER  -