Realism, Skill & Incentives: Current and Future Trends in Investment Management and Investment Performance

23 Pages Posted: 20 May 2015 Last revised: 22 May 2015

See all articles by Andrew Mason

Andrew Mason

University of Surrey - Surrey Business School

Sam Agyei-Ampomah

Cranfield University - School of Management

Frank S. Skinner

Brunel University

Date Written: May 19, 2015

Abstract

We review the recent trends in investment management and performance research and highlight the fields expected to develop further in the future. The trend to adapt the classic CAPM and factor models seems likely to continue, with the drive for realistic factors, which best proxy the drivers of investment performance, playing a key role. The search for skill, based on enhanced benchmarks is also a developing area, with new concepts of identification and verification at the fore. The availability of more qualitative data has allowed corporate finance themes such as agency conflict and incentives to be explored. These are some of the areas where we have seen major developments in recent years and where we expect to see continuing development.

Keywords: Investment Management, Investment Performance, Mutual Funds, Factor Models, Skill, Characteristics, Incentives

JEL Classification: G1, G23

Suggested Citation

Mason, Andrew and Agyei-Ampomah, Sam and Skinner, Frank S., Realism, Skill & Incentives: Current and Future Trends in Investment Management and Investment Performance (May 19, 2015). Available at SSRN: https://ssrn.com/abstract=2608005 or http://dx.doi.org/10.2139/ssrn.2608005

Andrew Mason (Contact Author)

University of Surrey - Surrey Business School ( email )

Guildford, Surrey GU2 5XH
United Kingdom
+44-1483-683093 (Phone)

HOME PAGE: http://www2.surrey.ac.uk/management/people/andrew_mason/

Sam Agyei-Ampomah

Cranfield University - School of Management ( email )

Bedfordshire, MK43 0AL
United Kingdom
+441234754375 (Phone)

HOME PAGE: http://www.som.cranfield.ac.uk/som/p19638/People/Faculty/Academic-Faculty-Listing-A-Z/Dr-Sam-Agyei-A

Frank S. Skinner

Brunel University ( email )

Kingston Lane
Uxbridge, Middlesex UB8 3PH
United Kingdom

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