https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2498743
TLDR; active managers who have a low turnover rate and a high active share (i.e very different from benchmark - not closet indexers) tend to outperform their benchmarks. The industry as a whole is dragged down by short term closet indexers
Submitted September 04, 2018 at 04:11AM by dahak277 https://ift.tt/2CmNvLc
