The Economics of Fund Management

The investment management industry is huge, enormously influential, wildly profitable but often little-understood outside its own confines, with most of the literature focused on the approach of its most famous money managers. Ed Moisson ably explains the other pillars of asset management, explores how the business actually works and dissects what its future might look like.

-- Robin Wigglesworth, Editor, FT Alphaville, and author of Trillions

A fascinating and extremely well researched insight into the business of asset management and how the industry makes - and sometimes loses - money. A must-read for anyone looking to delve deeper into an influential sector of the economy managing trillions of dollars.

-- David Ricketts, author of When the Fund Stops

There are a lot of people in and around asset management who can paint little bits of this picture, but Ed Moisson is the only one with the skills and experience to show us the full landscape. A masterpiece.

-- Magnus Spence, Director, FidesIQ

This useful book walks the reader through the business of asset management - a business critical to the modern economy. Ed Moisson covers thorny topics such as conflicts of interest, scandals and regulatory intervention taking a balanced view. An important contribution to a better understanding of asset management.

-- Heather Hopkins, Managing Director, NextWealth

Having started in investment management 50 years ago when the fund business was a cottage industry (with less than GBP1 billion under management), I found this book an excellent analysis of the vast industry it has become. It will enable any reader to understand the complex dynamics of today's business.

-- Mark St Giles, co-author of Managing Collective Investment Funds, and Chairman, Cadogan Financial

A timely and important piece of work. Too few people understand investment management as a business and until there is a broader understanding of some of the conflicts and challenges that exist, the sector will remain in the shadows of banking and insurance. Opacity rarely goes hand in hand with excellence nor does it allow investment management to earn proper credit for the vital role that it plays in financing growth and wellbeing.

-- Will Goodhart, Chief Executive, CFA Society of the UK