Tax-Aware Investment Management

"Tax-Aware Investment Management is the most comprehensive guide to portfolio optimality. From capital allocation to manager selection, Doug Rogers clarifies the critical issues and provides strategies for maximizing after-tax returns. He has succeeded in applying the principles of modern portfolio theory to taxable investors."Peter K. Scaturro CEO, U.S. Trust CorporationAlthough some tax rates on investments are lower now than in the past, many investors pay much higher rates to the IRS simply because they or their advisers don't search out the best tax-aware investment strategies. For example, they may sell before a gain qualifies as long-term. In that case, the tax rate can be 35 percent, not 15 percent.Surprisingly, says Douglas S. Rogers, CFA, most managers of mutual funds and other investment vehicles ignore such tax considerations when buying and selling securities, leaving investors with lower after-tax returns than they deserve. Tax-Aware Investment Management offers new thinking, new research, and new analytic tools to help advisers raise the after-tax returns on their clients' portfolios and improve their investments, their overall financial picture, and their estate planning.