Active Equity Management Fails Again to Make Its Case
The latest fund-company missive fares no better than than its predecessors'.
A couple of months back, Neuberger Berman issued a white paper, “The Overlooked Persistence of Active Outperformance” (Joseph Amato, Peter D’Onofrio, Alessandra Rago), that advocated active equity management. I was surprised and impressed. Surprised that a mutual fund company would hazard such a feat, in this day and age, but also impressed by its bravery.
However, I cannot score the effort a success.