Entries in indexing (2)


An update on active vs passive management

The first graph from Indexes Beat Stock Pickers Even Over 15 Years explains the second.


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Another public body blow to active management

The anomalies of language can often be instructive. What Americans properly call “pensions”, British call “schemes”.

The Brits claim to speak English, and we Americans find their accents quaint and, if you consider the rampant overuse of British accents in US media any evidence, vested with a soupçon of sophistication. So it was with interest that we read in the Financial Times, Britain needs local authority pension revolution. Americans particularly like revolutions that involve the British.

It seems the Department for Communities and Local Government had the good sense to retain the consulting firm of Hymans Robertson to review the pension operations & results of funds managed by Local Government Pension Scheme, which is one of the largest public sector pensions in the UK, managing some 99 pension funds for more than 4.6 million members comprising some £178 billion. It’s a pretty big deal.

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