Jeffrey Bailey, David Tierney
Description
<i>Controlling Misfit Risk in Multiple-Manager Investment Programs</i> is a practical, instructive guide which offers a solution to a challenge more a
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nd more institutions are facing-misfit risk. When a sponsor uses several managers for one asset class, style biases can cause the sponsor's managers in aggregate to underperform the target despite each individual manager performing well against the manager's benchmark. In this volume, the authors provide a straightforward analytical framework for evaluating and treating this potentially costly misfit problem.
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