Which Fund Families Have the Best Managers? by Jeff McTague
Thursday, January 24th, 2008
Alpha is the difference between a fund’s actual performance and the performance anticipated in light of the fund’s risk (beta) and the market’s behavior. In other words, the value delivered by the fund’s manager above the relevant investment category’s benchmark index. The chart below represents 113 fund families with at least 7 equity funds with 3 years of past performance — the minimum time required to receive an alpha rating — and represents the collective alpha of the family’s equity funds for the period 2004-2006. (more…)
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