Below is an overview of our free research papers.

These papers aim to help you to better understand what skills fund managers have as a group and also how your managers might compare.

Research Paper 1

Identifying Real Skill and Behavioural Weaknesses in the Active Management Industry

This research paper identifies how managers commonly dilute their returns by falling into well documented behavioural traps associated with the Endowment Effect, through focusing their attention unequally on the longs over the shorts.

Research Paper 2

Are Fund Managers Poor Sellers? Presenting Empirical Evidence of the Disposition Effect

Following on from research paper 1, this paper looks at how behavioural traps, this time associated with the Disposition Effect, cause basis points to be lost through the selling process.

Research Paper 3

Track Records – Luck or Judgement? Introducing Hit Rates and Win Loss Ratios

This paper introduces the measures of Hit Rates and Win Loss Ratios which help firmly identify how skilful a manager is and how they have generated alpha. It also highlights that contrary to the old adage, fund managers don't get 6 out of 10 of their decisions right; they only get 5.