How good is your multi-manager - part 2?

RISK CONTROL AND MONITORING Q: How do you define portfolio risk? How do you monitor that risk and what procedures do you have in place to maximize the return for that level of risk? Watch out for: answers that differ from objectives. Tracking error should be the primaryrisk measure for funds that are attempting to outperform a benchmark, or standard deviation and/or value at risk forabsolute return funds. Answers such as “Risk is diversified away through many top-quality holdings” are avoiding the question and probably indicate a weakness. Any answers that do not explain a formal process...