Insights
The benchmark problem: how concentrated markets complicate manager selection
Fund selectors and manager selection teams rarely make allocation decisions on performance alone. Performance sits inside a wider due diligence framework used to assess whether a manager is skilled, their performance repeatable, and ultimately if they’re appropriate for a mandate. To make this assessment, the interpretation of performance is key. Relying only on benchmark-relative returns […]
Sep 28, 2026
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The benchmark problem: how concentrated markets complicate manager selection
Fund selectors and manager selection teams rarely make allocation decisions on performance alone. Performance sits inside a wider due diligence framework used to assess whether a manager is skilled, their performance repeatable, and ultimately if they’re appropriate for a mandate. To make this assessment, the interpretation of performance is key. Relying only on benchmark-relative returns […]