The Trust Mandate

This groundbreaking new book answers an essential question: why is it that a fund client selects, or an investment consultant recommends, one asset manager over another when the two are, on paper at least, very similar? Also, why is it that some asset managers maintain their mandates during difficult periods in the cycle and others don't, even though their performances are identical? Authors Herman Brodie and Klaus Harnack investigated the drivers of these selection decisions and uncovered that so-called 'soft' factors play the primary role - even more so for consultants than for end-clients. They also discovered that these soft factors are essentially the means clients use to judge an asset manager's benevolent intentions, one of the two dimensions of the universal human evaluation more commonly known as trust. Backed by compelling data and research from multiple disciplines, The Trust Mandate breaks open the science of trust for asset managers, revealing the systematic steps clients take in their search for evidence of good intentions - the essential, but often missing, component in business relationships. It also shows how trusted managers are able to win more clients, keep them longer, merit good recommendations, allowed to take more risks, and justify higher fees. The clients of trusted managers enjoy reduced anxiety, earn higher long-run returns, and avoid costly and pointless transitions from firm to firm. So high-trust relationships are a genuine win-win situation. Yet the task of initiating and nurturing them falls squarely on the service provider. Asset managers must learn to convey their good intentions. The Trust Mandate shows why - and how - in unprecedented detail.

An examination of state lands, from a state rather than federal government perspective. This study presents information from 22 US states in its discussion of state trust lands as models of public land administration.

This book constitutes the refereed proceedings of the 13th IFIP WG 11.11 International Conference on Trust Management, IFIPTM 2019, held in Copenhagen, Denmark, in July 2019. The 7 revised full papers, 3 short papers, and 6 work-in-progress papers presented were carefully reviewed and selected from 32 submissions. The papers cover a broad range of topics related to trust, security and privacy and focus on trust in information technology and identity management, socio-technical and sociological trust, and emerging technology for trust.

From 1923 until May 1948, Palestine was under a British Mandate. Beginning in 1927, on the Eve of the tenth anniversary of the Balfour Declaration, Palestine began producing its own money. The coins and banknotes that were legal tender during these two decades are especially interesting both to collectors and historians. A brief history of Palestine up to 1948 and information on the Palestine Currency Board provide background information. Complete numismatic information is then presented for each coin and banknote. Also covered are the mysterious 1927 Holyland Token, counterfeit issues, and vignettes of the religious sites featured on banknotes. Appendices present the text of the British Mandate for Palestine, catalog numbering systems for Palestine coins and banknotes, and a checklist for collectors. (The text does not introduce a new numbering system.) Color and black and white illustrations bring these beautiful pieces of currency, many now rarities, to life.

The growing interest in investment in Latin America - particularly in commodities production and real estate development - has increased the use of trusts as investment vehicles throughout Latin America. Written for the English-speaking practitioner, the book covers Argentina, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, México, Panamá, Paraguay, Perú, Uruguay and Venezuela and provides a practical, clear, and thorough explanation of trusts as legal vehicles for investment in Latin American countries. Trusts in Latin America provides a comprehensive, comparative review of statutes, case law, and examples of trusts in Latin America, and also highlights differences between these countries and common-law systems.