Syz Property Derivatives

Pricing, Hedging and Applications
1. Auflage 2008
ISBN: 978-0-470-69455-8
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 252 Seiten, E-Book

Reihe: Wiley Finance Series

Property derivatives have the potential to revolutionize realestate - the last major asset class without a liquid derivativesmarket. The new instruments offer ease and flexibility in themanagement of property risk and return.
Property funds, insurance companies, pension and life funds,speculators, hedge funds or any asset manager with a view on thereal estate market can apply the new derivatives to hedge propertyrisk, to invest synthetically in real estate, or for portfoliooptimization. Moreover, developers, builders, home suppliers,occupiers, banks, mortgage lenders and governmental agencies canbetter cope with their real estate exposure using propertyderivatives.
This book is a practical introduction to property derivativesand their numerous applications. Providing a comprehensive overviewof the property derivatives market and indices, there is alsoin-depth coverage of pricing, hedging and risk management, whichwill deepen the readers understanding of the market'smechanisms.
Covering both the theoretical and practical aspects of theproperty derivatives markets; this book is the definitive referenceguide to a new and fast-growing market.

Autoren/Hrsg.

Syz, Juerg

Inhaltsverzeichnis

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.

Über Autor(innen)

Juerg M. Syzis head of financial engineering investments atZürcher Kantonalbank (ZKB) in Zurich, Switzerland. He has sixyears experience of working in structured derivatives acrossvarious asset classes with a focus on product development. At ZKB,he was responsible for the first property derivatives traded inSwitzerland and for the launch of the first mortgage that is linkedto a property index, protecting home equity.
Juerg holds a Master of Science in Finance from the University ofZurich, as well as the CFA Charter and a Master in BusinessAdministration from INSEAD. He publishes regularly ininternationally renowned journals and lectures at the Swiss RealEstate School and the Swiss Training Centre for InvestmentProfessionals.