Tag Archives: mutual funds
Quantifying Fee Drag on Investment Returns
The impact of fees on investment returns is a widely studied and much debated topic. Over the past decade, as index-linked, lower-cost passive investing has taken hold, fees have become a greater focus. In recent years, there have been several studies published examining the impact of fees on performance. The U.K’s Financial Conduct Authority (FCA),…
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Mutual Fund Portfolios: Equal Weight or Cap Weight?
Equal-weighted indices typically outperform their cap-weighted counterparts (although 2017 so far has proven to be an exception to the general rule). This means that portfolio managers can usually create a performance tailwind by equal weighting rather than cap weighting their holdings. But do they? One way to assess this question is by using the Herfindahl-Hirschman…
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Tips and Tricks in Reading the Persistence Scorecard
Much has been written about the persistence of manager performance. The S&P Persistence Scorecard attempts to track the status of top quartile and top half managers over specified subsequent periods. Over the years, we have received a fair amount of inquiries from our readers regarding the computation, methodology, and interpretation of results. This blog attempts…
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Man Bites Dog
Everyone wants to invest with the ‘smartest guys in the room’. But what do the smartest guys invest in? Well, a poll of mutual fund professionals suggests a very surprising result. As regular readers of this blog will know, while there are plenty of managers who can show attractive returns over the past few quarters…
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