Investing in Skill (Man Group, Mar 2022)
For allocators and recruiters, the tendency to focus on portfolio outcomes as a proxy for investment skill can be alluring – who hasn’t been guilty of extrapolating a track record at some point?…
For allocators and recruiters, the tendency to focus on portfolio outcomes as a proxy for investment skill can be alluring – who hasn’t been guilty of extrapolating a track record at some point?…
Active share is a measure of how much a fund’s holdings deviate from its benchmark index, and funds with the highest active share tend to have the best relative performance (in order to outperform,…
A great deal of research effort has sought to understand whether fund managers have skill. However, most of this research draws inferences from fund returns attributable to funds that may have been…