Benchmarks and Investment Management
To highly skilled managers, benchmarks are confining, but to managers without the ability to consistently add alpha and to investors, benchmarks are a boon. Benchmarks and Investment Management explores many issues surrounding investment benchmarks and benchmarking. It outlines a compromise that might ease the natural tension between active managers who believe they have real skill and bristle at the need to be measured by benchmarks and investors who want a benchmark so they can measure performance.
Table of Contents
Acknowledgments
Foreword
Preface
Chapter 1: Origins, Uses, and Characteristics of U.S. Equity Benchmarks
Chapter 2: Using Benchmarks to Measure Performance
Chapter 3: Building Portfolios of Managers
Chapter 4: The Evolution of MPT and the Benchmarking Paradigm
Chapter 6: Critiques of Benchmarking and a Way Forward
Chapter 7: The Impact of Benchmarking on Markets and Institutions
Chapter 8: U.S. Equity Style Indexes
Chapter 9: Fixed-Income Benchmarks
Chapter 10: International Equity Benchmarks
Chapter 11: Hedge Fund Benchmarks
Chapter 12: Policy Benchmarks
References
Selected AIMR Publications