Benchmark design for an active investment process

Choosing the appropriate benchmark for active managers is a common debate among institutional investors. Norges Bank Investment Management has produced a “discussion note’ on the benchmark design for an active investment process, in which it introduces a flexible modelling framework that aims to incentivise each portfolio manager to utilise their stock-picking skill.   The benchmark... Read more »

Low-turnover, low-cost quells cap vs equal debate

The debate over cap-weighted or equal-weighted portfolios has been somewhat quelled by the launch of a new strategy by INTECH Investment Management that combines the two approaches.