Asset Managers – Page 128
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Special Report
Active Management: Alpha? Bravo!
One of the interviewees who contributed to this month’s special report recalls meeting someone with an unusual business card. Instead of a run-of-the-mill job title – ‘Managing Director’, say – this person styled himself ‘Alpha Generator’.
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Special Report
Active Management: Feast and famine
The ability to generate alpha might be a skill, but the amount of alpha available from the market is not a constant. Martin Steward asks how we might measure the alpha opportunity and whether investors should vary the risk budget they allocate to active management as a result
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Special Report
Active Management: False economies?
An influential consultancy tasked with finding savings in the UK’s local government pensions scheme has put forward the idea of pooling its funds into passive investment. Brendan Maton looks at the issues and the sector’s response
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Special Report
Active Management: The active-versus-active debate
Tracking error has often been used as shorthand for ‘activeness’ in portfolio management. Eric Colson explains the weakness of that approach, and how active share is a much stronger predictor of active performance
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Special Report
Active Management: Passive skeletons in the active closet
Charlotte Moore tests the limits of quantitative measures of ‘activeness’ in portfolio management, and finds that a good dose of qualitative common sense is a vital part of the manager selection process
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Special Report
Active Management: Diluting by concentrating
Concentrated portfolios can look like a proxy for high-conviction and high-alpha portfolios. Martin Steward asks if the two things necessarily follow one another
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Special Report
Active Management: The portfolio tax
C Thomas Howard argues that active equity fund managers are superior stock pickers but destructive portfolio managers, to the extent that stockpicking skill is completely wasted
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Special Report
Active Management: Understanding investment skill
Rather than outcomes-oriented measures, Michael Ervolini argues that to assess active managers’ skills they need to be isolated by comparing their portfolios with alternative, ‘adjusted’ portfolios
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Special Report
Active Management: DIY active
Charlotte Moore looks at the smart beta phenomenon and asks, is it really ‘smart beta’, or rather ‘cheap active’?
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NewsFriday people roundup
Morningstar Investment Management, La Française AM, Redington, Union Investment, Kames Capital
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News
Larger Dutch schemes pay more for asset management, survey shows
LCP reveals findings of survey on Dutch pension funds’ asset management fees
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News
Amundi, EDF in joint venture to offer energy-transition financing funds
New asset management company targets €1.5bn fundraising
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NewsWednesday people roundup
UK Investor Forum, Ballast Nedam, JP Morgan Asset Management, Schroders, Union Bancaire Privée, Aviva Investors, Investec Asset Management
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NewsIntricate risk controls have damaged portfolios, says 300 Club
Idaho’s Bob Maynard says ‘transparency’ should be main method of controlling risk
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News
UK roundup: Ashridge Pension Scheme, P-Solve, Legal & General, PRIAC
The £50m Ashridge scheme selects P-Solve for fiduciary mandate focusing on manager selection, tactical allocations
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News
USS, RPMI to sit on UK Investor Forum board
Investor Forum also announces John Kay, author of key report that led to its foundation, as board member
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News
Mandate roundup: IPE-Quest, Sutton, M&G, Berkshire, RWC
German corporate investor seeks manager for high-yield US corporate bond mandate
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NewsAsset management roundup: Swisscanto, ZKB, Amundi, Bawag PSK
Swiss cantonal bank ZKB in talks with Swisscanto over possible takeover
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News
UK roundup: Merseyside Pension Fund, Research Machines scheme, PIC
The £6.1bn Merseyside Pension Fund returns 6.2%, aided by successful European equities, property
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News
Lothian wins approval for standalone investment company
Scottish local authority fund proposed launch of special purpose vehicle amid concerns over ability to retain staff
