This study pitches investment skill against luck in track records.
The superior outperformance of Australian equity managers has led to a belief that their investment skill is better compared to their global peers. We ask whether this is really the case using Inalytics Peer Group database of institutional investor decisions. We examine whether superior track records equate to investment skill to explore what makes a skilful portfolio manager.
In our research paper, we analyse 62 Australian equity portfolios from Inalytics Peer Group Database to determine whether:
1. the outperformance and success come down to investment skill or luck; and
2. lessons can be learned from about investment skill to help improve the manager selection process.
Download the full study to learn more about how we go about identifying investment skill or contact us to learn more about how we analyse portfolios and decision making to improve the investment process and help select skilful portfolio managers.