Nowhere to Hide - Focused Active Asset Managers Outperform
Focused active managers have outperformed both generalist active managers and passive strategies over the 5 year period to 31 December 2015. The debate on whether active managers deliver value for money rages on. But much of that commentary has failed to consider how the business model of asset managers can influence investor outcomes. Focused active managers, who target best in class performance in one asset class specialisation, have significantly outperformed generalist active asset managers. In contrast to the typical active manager, US equity strategies offered by the most focused managers on average outperformed passive mandates on a net of fees basis.
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