Focused active investment managers have outperformed both generalist active funds and passive strategies over the past five years, according to a report by Northill Capital.
In a research paper, Nowhere to hide: Focused active asset managers outperform, the firm analysed the performance of more than 5,000 active long only equity and fixed income strategies, with total assets under management of $14.2trn, over the five year period 2011 to 2015. Active asset managers offering a single investment strategy, where all professionals work within a single team and share a single research platform, ranked within the top decile for focus. The report found the most focused managers within US equities generated average anualised gross outperformance of 116bps relativ...
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