Property Derivatives (eBook)

Pricing, Hedging and Applications

Juerg Syz (Autor)

eBook Download: PDF

2008 | 1. Auflage
252 Seiten
John Wiley & Sons (Verlag)
978-0-470-69455-8 (ISBN)

Infos

Property derivatives have the potential to revolutionize real
estate - the last major asset class without a liquid derivatives
market. The new instruments offer ease and flexibility in the
management of property risk and return.

Property funds, insurance companies, pension and life funds,
speculators, hedge funds or any asset manager with a view on the
real estate market can apply the new derivatives to hedge property
risk, to invest synthetically in real estate, or for portfolio
optimization. Moreover, developers, builders, home suppliers,
occupiers, banks, mortgage lenders and governmental agencies can
better cope with their real estate exposure using property
derivatives.

This book is a practical introduction to property derivatives
and their numerous applications. Providing a comprehensive overview
of the property derivatives market and indices, there is also
in-depth coverage of pricing, hedging and risk management, which
will deepen the readers understanding of the market's
mechanisms.

Covering both the theoretical and practical aspects of the
property derivatives markets; this book is the definitive reference
guide to a new and fast-growing market.

Autor

Juerg M. Syzis head of financial engineering investments at Zürcher Kantonalbank (ZKB) in Zurich, Switzerland. He has six years experience of working in structured derivatives across various asset classes with a focus on product development. At ZKB, he was responsible for the first property derivatives traded in Switzerland and for the launch of the first mortgage that is linked to a property index, protecting home equity. Juerg holds a Master of Science in Finance from the University of Zurich, as well as the CFA Charter and a Master in Business Administration from INSEAD. He publishes regularly in internationally renowned journals and lectures at the Swiss Real Estate School and the Swiss Training Centre for Investment Professionals.

Inhalt

Preface.

Part I: Introduction to Property Derivatives.

1. A Finance View on the Real Estate Market.

2. Basic Derivative Instruments.

3. Rationales for Property Derivatives.

4. Hurdles for Property Derivatives.

5. Experience in Property Derivatives.

6. Underlying Indices.

Part II: Pricing, Hedging and Risk Management.

7. Index Dynamics.

8. The Property Spread.

9. Pricing Property Derivatives n Established Markets.

10. Measuring and Managing Risk.

11. Decomposing a Property Index.

12. Pricing and Hedging in Incomplete Markets.

Part III: Applications.

13. Range of Applications.

14. Investing in Real Estate.

15. Hedging Real Estate Exposure.

16. Management of Real Estate Portfolios.

17. Corporate Applications.

18. Indexed Building Savings.

19. Home Equity Insurance.

Appendix.

Bibliography.

Index.

Produkt-Details

• Erscheint lt. Verlag: 8.12.2008
• Reihe/Serie: Wiley Finance Series
• Reihe/Serie: Wiley Finance Series
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Rechnungswesen / Bilanzen
• Themenwelt: Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Immobilienwirtschaft
• Schlagworte: Anlagengeschäft • Anlagengeschäft • Finance & Investments • Finance & Investments Special Topics • Finanz- u. Anlagewesen • Spezialthemen Finanz- u. Anlagewesen
• ISBN-10: 0-470-69455-6 / 0470694556
• ISBN-13: 978-0-470-69455-8 / 9780470694558