THEORETICAL AND METHODOLOGICAL FOUNDATIONS OF STRATEGIC ANALYSIS OF INSTITUTIONAL INVESTORS’ ACTIVITIES IN FINANCIAL ASSET MANAGEMENT IN CAPITAL MARKETS
Abstract
The article is devoted to the study of the theoretical and methodological foundations of strategic analysis in the activities of institutional investors in the field of financial asset management in capital markets. The need to align the return, risk, and liquidity of the investment portfolio with the structure of liabilities determines the specific features of strategic analysis in the activities of institutional investors and the specifics of its instrumental framework. This leads to the integration of strategic analysis tools with financial asset management instruments, contributing to the formation of an analytical framework for the investment activity of institutional investors and ensuring a consistent consideration of investment conditions, internal capabilities, and established constraints. The methodological structure of strategic analysis involves a combination of interrelated stages, including macro-environmental and market regime analysis, assessment of institutional constraints, and evaluation of the internal potential of the investor. The results of strategic analysis form a system of analytical conclusions regarding investment conditions, the internal capabilities of the investor, and established constraints, and are further specified at the level of portfolio and asset–liability management (ALM) analysis, ensuring their alignment with the asset structure, as well as the return, risk, and liquidity characteristics of the investment portfolio. At the portfolio level, these conclusions are supported by the assessment of diversification, concentration, and liquidity, as well as by the use of risk-adjusted performance indicators, including the Sharpe and Sortino ratios and market risk measures such as Value at Risk and Expected Shortfall. The final stage involves performance evaluation aimed at assessing the consistency of the obtained results with the characteristics of the investment portfolio and the established constraints of investment activity. This approach ensures the consistency of analytical conclusions regarding the investment activity of institutional investors and forms an analytical basis for determining the asset structure, as well as the return, risk, and liquidity of the investment portfolio.
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