The Importance of Investment Policy: A Simple Answer To A Contentious Question

Topics:
Commercial Lending
Tags:
Human Resources,
Investment Policy,
Performance Management,
Policy,
PPCA,
Workforce Management
Source:
PPCA

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Overview: The long-held belief that investment policy accounts for more than 90% of performance results has recently been questioned by critics of the study that established this belief. While the critics suggested - but failed to agree on -- alternative measures to better estimate the importance of investment policy, they unanimously concluded that policy is relatively unimportant. The important questions addressed in this article are: what fraction of return is explained by policy? In addition, what are the characteristics of successful managers? The article describes a methodology and results for the questions of interest: fraction of return explained by policy and possible keys to success. In each section, it begins with a general overview followed by the specifics of each study.

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Format: HTML | Date: Jan 2003 | Pages: 1

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