notices - See details
Notices
PO
Paul OBrien (not verified)
3rd June 2023 | 1:35pm

This is a really important topic. I would add a seventh point: Verify! The performance of active managers should be analyzed to identify beta or factor exposures and see what drives relative returns. Do manager returns match up with ex-ante descriptions of their process? In addition, institutional investors should analyze their own performance. Do their asset class returns - which likely include several active managers - align with ex-ante strategic exposures and deliver material added value over bulk beta?