A number of papers have demonstrated that over historical periods, a specified set of factors have outperformed actively managed funds. However, in almost all cases, the factors employed or the procedures followed are not replicable by tradable passive investments. In addition, tradable passive...

Managers of Fund of Funds have access to information not available to the general public in evaluating funds from their own family. However, they may have family or self‐serving motives that can hurt shareholder performance. By examining a history of individual transactions of Funds of Funds,...

Research has shown that individual investors make poor asset allocation decisions in 401k plans. In response to this research, 72% of all 401k plans now offer Target Date Funds where asset allocation decisions are made for the investor and 43% of the assets of young 401(k) plan participants are...