27 October 2015: Fund Forum USA: Are Consultants Hampering Active Management?

I am pleased to be speaking at Fund Forum USA today in Boston, Massachusetts on the panel discussion, “Are Consultants Hampering Active Management?” Hint: yes, and no. Yes, to the degree that consultants and their methods lead to active investment managers to become more short-term oriented. No, to the degree that active investment managers can always say “no” to the Faustian bargain offered by working with investment consultants.