Betting on the style

The investment management industry has become increasingly specialised over the past 20 years. Aside from the myriad of new strategies that have been introduced, such as those used by hedge funds, even the most traditional of money management sectors, active equity, has not gone without change. Managers have evolved from managing broad equity mandates to those that are more specialised. The introduction of factor analysis in the early 1980s, plus the recognition that many managers did, in fact, use a particular 'style' or process to build portfolios led to segmentation within the market....