We provide a comprehensive analysis of differences between socially responsible investment
(SRI) and conventional funds in terms of manager characteristics, performance and fund …

Default investment options in retirement plans are a potent influence on member choice,
however little is known about how plans set them. We investigate how retirement plan providers …

Utility functions offer a means to encode objectives and preferences in investor portfolios.
The functions allow one to place a score on outcomes and then identify optimal portfolios by …

We interview professional institutional investors to learn how they choose between active
and passive management, select active equity managers and construct multi-manager …

Warren evaluates investing in volatility products under a range of investor objectives, including
risk and return at the total portfolio level, benchmark-relative performance, and liability-…

Using data on portfolio holdings, we examine the performance of 143 global equity funds
over 2002–2012. We find that the average global equity manager outperforms the benchmark …

We interview A ustralian fund executives about how their organisations responded to M y S
uper, a regulatory framework for default retirement savings funds that providers were …

We investigate why investors may be willing to participate in active management, notwithstanding
expectations for negative average alpha after fees across all managers. Our approach …

This study provides the first long-run analysis of the skill of active Australian equity fund
managers based on trades inferred from a market-wide database of monthly portfolio holdings …

The reported returns of US private equity funds are benchmarked against passive exposures
from public equity markets. Over the full sample period, private equity returns display three …