New Study Shows Active Managers Add Average $3.2 Million In Value

Academics Prof. Jonathan B. Berk from Stanford University Business School and Associate Prof. Jules H. van Binsbergen of the Wharton School at the University of Pennsylvania have undertaken a study that points out that the "search for alpha" mantra that hedge fund investors have long followed in assessing active fund managers is conceptually flawed. Their research, published as Stanford University Graduate School of Business Research Paper No. 15-37 shows that active managers do have...

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