Beyond Alpha

The Folklore of Finance

Our current study takes an in-depth look at the standard measure of success for investment professionals — the production of alpha — and why that model must change for the industry to deliver true success.

To better understand the flawed beliefs and behaviors within the industry, what we describe as “folklore,” we examined the views of thousands of investors, investment providers, government officials and regulators across 19 countries over an 18-month period.

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Redefining Performance

The Influential Investor

How are investors acting? Why are they behaving that way? Is the industry delivering meaningful value? Understanding the answers to these questions is key to generating sustainable returns in the future.

Our report looks at the views of thousands of retail and institutional investors, asset managers, intermediaries and regulators from more than 60 countries. Based on that research, one thing is clear: The future of the investment industry will be determined by the actions investors take — healthy or unhealthy, rational or irrational.

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By the Numbers

The Quest for Performance

In the current, post-crisis environment, asset owners struggle to make sense of conflicting advice. Practitioners and academics alike have advised asset owners to rethink their investment strategies, models and asset allocation decisions — and even question the very premise of portfolio diversification. This paper provides a roadmap for navigating asset allocation in a low-return world.

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