While the eventual decay in alpha in the average position is destructive, it is not inevitable.
In a supplement to our Alpha Lifecycle research, this paper shows that disciplined active managers who are able to exit positions at or near the peak of their alpha curve – typically a 6 month 'window of opportunity' per position – can preserve more than 120 bps outperformance (net of fees), per year, vs index funds.
Download The Half-Full Glass to explore the substantial investment performance opportunity available to active managers over their passive fund competitors.
1. Select one or more white papers from the list below and complete the form.
2. Hyperlinks to each paper chosen will then appear under the DOWNLOAD button at the bottom of this page.