Where Do Australian Active Equity Managers Outperform?

Financial Services Institute of Australiasia
Publication Type:
Journal Article
JASSA, 2007, Summer (1), pp. 5 - 10
Issue Date:
Full metadata record
The appropriateness of benchmarks is particularly critical in performance evaluations of equity managers, and inferences made from them in terms of managerial skill Recent empirical research for Australian equity managers shows, on average, outperformance relative to the market over long-run periods. This paper aims to identify more accurately the main sources of that excess return, and finds that it stems from a combination of style exposures and stock selection, both primarily within the large-cap arena especially bank and finance stocks.
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