An approach for designing a menu of comprehensive income products for retirement (CIPRs) is proposed and demonstrated. The approach entails for steps: defining and characterising member types based on selected attributes; specifying a utility function to capture the objectives and preferences of...

The literature on whether active management adds value is examined through the prism of the proposition by Sharpe (1991) that active investing is a negative sum game after costs. Focal points include how active fund research does not directly test Sharpe's proposition and seems inconsistent with...

We examine the issues and methods involved in evaluating the size that a fund might attain before it becomes unable to create additional value for investors. We discuss how capacity is defined; identify ten drivers; and outline methods for conducting capacity analysis. Models that predict capacity...

We apply a range of methods for estimating capacity in a fund management context, and discuss the implications of the results. In addition to demonstrating how capacity analysis may be undertaken, we highlight the key determinants of estimated capacity. The central issue is the ability of a fund...

We apply a range of methods for estimating capacity in a fund management context, and discuss the implications of the results. In addition to demonstrating how capacity analysis may be undertaken, we highlight the key determinants of estimated capacity. The central issue is the ability of a fund...

The management of capacity is considered from the perspective of institutional asset owners. How capacity differs across asset classes is outlined. Investment strategies that offer greater capacity are identified. A discussion of capacity management for multi-asset portfolios highlights how...