Price Vs Value – Active Management Is Still Alive And Well

Find out more on our website: https://bit.ly/3zPwo0N In aggregate, the average active asset manager fails to outperform its benchmark, says conventional wisdom. However, the data on which this conclusion is drawn is both highly biased and plainly misinterpreted. It also leads to a race to the bottom where cost of managing assets becomes the only criteria for the selection of a fund manager. We have seen a race to the bottom that has not benefitted investors and savers. The truth – like in any purchase decision, be it the choice of a restaurant or the buying of a car – is that we should focus on outcome and therefore the after-fee performance of the saving pool. Hence passive investing may not be the best way to reach this maximization objective. Academic research provides tools for selecting fund managers and the evidence is that active management is not dead. Speaker: Jean Keller joined Quaero Capital SA in 2011 as CEO and Partner. He was previously CEO of 3A (Alternative Asset Advisors), the alternative asset management arm of Group Syz&Co in Geneva and was also responsible for the development of the group in Asia. Prior to this, Jean Keller spent 11 years assuming various responsibilities within the Lombard Odier Group. From 1988 to 1992, he was Investment Manager and Investment Analyst with Baring Asset Management in London and Hong Kong. Jean Keller holds a MBA from the Wharton School of Business of the University of Pennsylvania and an Ms in International Relations from the Graduate Institute of International Studies in Geneva.