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.

Toiletpaper is an artists’ magazine created and produced by Maurizio Cattelan and Pierpaolo Ferrari, born out of a passion or obsession they both cultivate: images. The magazine contains no text; each picture springs from an idea, often simple, and through a complex orchestration of people it becomes the materialization of the artists’ mental outbursts. Since the first issue, in June 2010, Toiletpaper has created a world that displays ambiguous narratives and a troubling imagination. It combines the vernacular of commercial photography with twisted narrative tableaux and surrealistic imagery. The result is a publication that is itself a work of art, which, through its accessible form as a magazine, and through its wide distribution, challenges the limits of the contemporary art economy.

Toiletpaper is an artists' magazine created and produced by Maurizio Cattelan and Pierpaolo Ferrari, born out of a passion or obsession they both cultivate: images. The magazine contains no text; each picture springs from an idea, often simple, and through a complex orchestration of people it becomes the materialization of the artists' mental outbursts. Since the first issue, in June 2010, Toiletpaper has created a world that displays ambiguous narratives and a troubling imagination. It combines the vernacular of commercial photography with twisted narrative tableaux and surrealistic imagery. The result is a publication that is itself a work of art, which, through its accessible form as a magazine, and through its wide distribution, challenges the limits of the contemporary art economy.

Toiletpaper is an artists' magazine created and produced by Maurizio Cattelan and Pierpaolo Ferrari and born out of a shared passion for images. The magazine contains no text. Each picture springs from an idea, often simple, and through a complex orchestration of people it becomes the materialization of the artists' mental outbursts. Since the first issue, in June 2010, Toiletpaper has created a world that displays ambiguous narratives and a troubling imagination. It combines the vernacular of commercial photography with twisted narrative tableaux and surrealistic imagery. The result is a publication that is itself a work of art which, through its accessible form as a widely distributed magazine, challenges the limits of the contemporary art economy.

Toiletpaper is an artists' magazine created and produced by Maurizio Cattelan and Pierpaolo Ferrari and born out of a shared passion for images. The magazine contains no text. Each picture springs from an idea, often simple, and through a complex orchestration of people it becomes the materialization of the artists' mental outbursts. Since the first issue, in June 2010, Toiletpaper has created a world that displays ambiguous narratives and a troubling imagination. It combines the vernacular of commercial photography with twisted narrative tableaux and surrealistic imagery. The result is a publication that is itself a work of art which, through its accessible form as a magazine, and through its wide distribution, challenges the limits of the contemporary art economy.

Issue 9 of of Maurizio Cattelan and Pierpaolo Ferrari's accessible image-based artists' magazine that challenges the limits of the contemporary art economy Toilet Paper is an artists' magazine created and produced by Maurizio Cattelan and Pierpaolo Ferrari, born out of a passion or obsession they both cultivate: images. The magazine contains no text; each picture springs from an idea, often simple, and through a complex orchestration of people it becomes the materialization of the artists' mental outbursts. Since the first issue, in June 2010, Toilet Paper has created a world that displays ambiguous narratives and a troubling imagination. It combines the vernacular of commercial photography with twisted narrative tableaux and surrealistic imagery. The result is a publication that is itself a work of art which, through its accessible form as a magazine, and through its wide distribution, challenges the limits of the contemporary art economy.

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.

The recent turmoil on financial markets has made evident the importance of efficient liquidity risk management for the stability of banks. The measurement and management of liquidity risk must take into account economic factors such as the impact area, the timeframe of the analysis, the origin and the economic scenario in which the risk becomes manifest. Basel III, among other things, has introduced harmonized international minimum requirements and has developed global liquidity standards and supervisory monitoring procedures. The short book analyses the economic impact of the new regulation on profitability, on assets composition and business mix, on liabilities structure and replacement effects on banking and financial products.

Toiletpaper is an artists' magazine created and produced by Maurizio Cattelan and Pierpaolo Ferrari and born out of a shared passion for images. The magazine contains no text. Each picture springs from an idea, often simple, and through a complex orchestration of people it becomes the materialization of the artists' mental outbursts. Since the first issue, in June 2010, Toiletpaper has created a world that displays ambiguous narratives and a troubling imagination. It combines the vernacular of commercial photography with twisted narrative tableaux and surrealistic imagery. The result is a publication that is itself a work of art which, through its accessible form as a magazine, and through its wide distribution, challenges the limits of the contemporary art economy.

Toiletpaper is an artist's magazine created and produced by Maurizio Cattelan and Pierpaolo Ferrari and born out of a shared passion for images. The magazine contains no text. Each picture springs from an idea, often simple, and through a complex orchestration of people it becomes the materialisation of the artists' mental outbursts. Since the first issue in June 2010, Toiletpaper has created a world that displays ambiguous narratives and a troubling imagination. It combines the vernacular of commercial photography with twisted narrative tableaux and surrealistic imagery. The result is a publication that is itself a work of art which, through its accessible form as a widely distributed magazine, challenges the limits of the contemporary art economy.

Toiletpaper Magazine 16 Collector's Edition of 1000 numbered copies which includes a Toiletpaper jigsaw puzzle! Toiletpaper is an artists’ magazine created and produced by Maurizio Cattelan and Pierpaolo Ferrari and born out of a shared passion for images. The magazine contains no text. Each picture springs from an idea, often simple, and through a complex orchestration of people it becomes the materialization of the artists’ mental outbursts. Since the first issue, in June 2010, Toiletpaper has created a world that displays ambiguous narratives and a troubling imagination. It combines the vernacular of commercial photography with twisted narrative tableaux and surrealistic imagery. The result is a publication that is itself a work of art which, through its accessible form as a magazine, and through its wide distribution, challenges the limits of the contemporary art economy.

The Toiletpaper Calendar 2024 by Maurizio Cattelan and Pierpaolo Ferarri celebrates the imaginary zoo of Toiletpaper.

Issue 12 of Maurizio Cattelan and Pierpaolo Ferrari's accessible image-based artists' magazine that challenges the limits of the contemporary art economy Toilet Paper is an artists' magazine created and produced by Maurizio Cattelan and Pierpaolo Ferrari, born out of a passion or obsession they both cultivate: images. The magazine contains no text; each picture springs from an idea, often simple, and through a complex orchestration of people it becomes the materialization of the artists' mental outbursts. Since the first issue in June 2010, Toilet Paper has created a world that displays ambiguous narratives and a troubling imagination. It combines the vernacular of commercial photography with twisted narrative tableaux and surrealistic imagery.

Issue 13 of Maurizio Cattelan and Pierpaolo Ferrari's accessible image-based artists' magazine that challenges the limits of the contemporary art economy Toilet Paper is an artists' magazine created and produced by Maurizio Cattelan and Pierpaolo Ferrari, born out of a passion or obsession they both cultivate: images. The magazine contains no text; each picture springs from an idea, often simple, and through a complex orchestration of people it becomes the materialization of the artists' mental outbursts. Since the first issue in June 2010, Toilet Paper has created a world that displays ambiguous narratives and a troubling imagination. It combines the vernacular of commercial photography with twisted narrative tableaux and surrealistic imagery.

The upcoming ToiletMartin PaperParr wall calendar 2019 features photographs conceived by Martin Parr, Maurizio Cattelan and Pierpaolo Ferrari, a back-to-back of images made in collaboration among the three artist. In a hotly anticipated follow-up to the first ToiletMartin PaperParr magazine, this calendar presents a selection of the best images conceived by the three artist.

ToiletMartin PaperParr Book limited edition is a high-impact visual volume revealing the most iconic images from the prolific archives of internationally celebrated artist Martin Parr and the duo who created Toiletpaper, Maurizio Cattelan and Pierpaolo Ferrari. Martin Parr's ironic, full color images combine perfectly with the irreverent and poignant wit created by Maurizio Cattelan and Pierpaolo Ferrari. The 120 vibrant back-to-back images included in this compelling volume are sensually and visually appealing, as well as reflecting reality. This book of the books shakes up our minds and leads us to move our gaze in multiple directions. This limited edition comes with a special cover and includes a surprise gift...

The ToiletMartin PaperParr wall calendar for 2020 will feature a new selection of photographs conceived by Martin Parr, Maurizio Cattelan and Pierpaolo Ferrari. The main subject of the new issue will be dedicated to animals.