Estonia. The second chapter describes model-based investing as part of active management strategy. Three investment models are …

of returns, leaving little room for active management, we show that taking explicit account of market movement can change … the results significantly. Although active management plays a minor role in global asset allocation, its role is … contribution of active management as a source of performance for pension funds, at least at the asset class level. …

investment and thus reduce the reliance on often, ineffective, active management and remedial strategies during the holding …

fund managers to deliver on their promise to add value through active management, or is it symptomatic of a move toward …

of returns, leaving little room for active management, we show that taking explicit account of market movement can change … the results significantly. Although active management plays a minor role in global asset allocat ion, its role is …

ambiguity aversion and the utility cost of active management. …