Poorly rated?

A whole industry has grown up aimed at measuring the success or failure of investment managers. Every quarter, tens of thousands of pounds change hands for the information the surveys contain. But what is the purpose of performance measurement? Do the reporting services currently available meet the real needs of the pensions investment community? Questions have recently started to be asked both as to the validity of the basis on which the statistics are collected and the use to which they are being put, including the performance measurers themselves. Acceptable ground rules It is princ...