Investors are increasingly looking for more active managers to generate real alpha for their portfolios, Lipper says, with boutiques taking a greater market share as a result.
Lipper says many investors have been disappointed by the performance of plain vanilla active managers during and after the financial crisis.
Detlef Glow, the head of central, north and eastern European research, says the majority of managers has failed to generate value because they use a relative risk management approach.
“Asset management groups with special knowledge and a high degree of freedom in their investment process, who enable investors to gain exposure to niche markets, are enjoying increasing assets under management,” Glow says
“From this point of view, large asset management groups need to think out of the box and review their investment process to regain their growth momentum.”
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