Practical analysis for investment professionals

Performance Measurement & Evaluation

Current Thinking in Investment Manager Selection

Manager selection still does matter. To help readers navigate the manager selection process and stay current on the latest in both theory and practice, Mark Harrison, CFA, has compiled a range of informative materials from CFA Institute publications.

Is Accrual Accounting Actually Accurate?

Accrual accounting often plays a crucial role in investment decisions. But based as it is on subjective judgment and abstraction, does accrual accounting provide an accurate picture of a business?

Meaningful Private Equity Fund Performance Evaluation

Morten Sorensen and Ravi Jagannathan took on the question of how to effectively evaluate the performance of private equity (PE) funds, and they offered a rigorous theoretical justification for using the public market equivalent (PME).

UK Active Fund Managers: Analyzing Their Value

Every day investors are inundated with noise — almost all of it irrelevant — about what they should do. Then, when there really is something important — information that will genuinely help you achieve better returns — it often gets drowned out. Such is the case with a recent study on the merits of active fund management.

Hedge Funds and the Active Management Crisis

It is no secret that active management and hedge funds have underperformed in recent years, but is there a case to be made for them in the long run? When discussing fund performance, the devil is always in the details.

Making Sense of Long-Term Returns

All advisers face the same challenge: How can we best help investors understand what sort of long-term returns they can rationally expect?

Better Investment Consulting Is Long Overdue

Active managers consistently fail to earn their fees year after year. What can change this pattern of repeated failure? Ron Surz, president and CEO of PPC, Inc., weighs in.

Why Hasn’t Active Investing Outperformed Passive Investing in Recent Years?

The results of our latest CFA Institute Financial NewsBrief poll reflect the tug-of-war between the two camps in the long-running active vs. passive debate.

The Volkswagen Disaster: Could Analysts See It Coming?

Volkswagen share prices fell by more than 20% this week amid an emissions scandal that affects 11 million cars worldwide. It has triggered a critical question: Could analysts have seen it coming?

Sustainable Investing and Fiduciary Responsibility: Conflict or Confluence?

An interview with David Blood reveals why sustainability is integral to fiduciary duty.

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