Sharper Fund Management

7 Pages Posted: 19 Nov 2003

Date Written: November 17, 2003

Abstract

The current practice of fund management can be altered to improve the lot of both the investor and the fund manager. Tracking error constraints in mandates can be replaced by an evaluation of the added value provided to the investor by the fund manager. The value of the manager depends not only on the outperformance of the manager's fund, but also on its volatility and its correlation to the rest of the investor's portfolio. Hyperpassive funds - an approach suggested by the new mandate scheme - show promise.

Suggested Citation

Burns, Patrick J., Sharper Fund Management (November 17, 2003). Available at SSRN: https://ssrn.com/abstract=470602 or http://dx.doi.org/10.2139/ssrn.470602

Patrick J. Burns (Contact Author)

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