Document Type
Journal Article
Abstract
It is a reasonable contention for investors and interested observers whether judgement has any value in the investment process, or whether simply constructing an index tracking portfolio delivers a better economic outcome. Recent market failures have fostered the incredulity of investors and other stakeholders regarding the ‘science’ of investment and increased the onus on practitioners to defend the economic rationale and methods of active management. Without the spectre of this debate, it would generally be accepted as common sense that active management would be essential given differing client constraints, and the fact that indices do not measure investment merit or quality.
RIS ID
10222
COinS