Active Management Council Releases Papers on Active Investing

A research brief from the Active Management Council provides an overview of the latest thinking on active and passive investing. The research brief summarizes a number of academic works, including research that reassess the conventional wisdom regarding active management; the role of active management in sustainable investing; revisions to approaches to measuring investment success; and the centrality of active management in maintaining market efficiency. The Council says that the papers present a more balanced narrative about the value of active management and suggest “that active and passive both add value for investors in different ways and that active investing is essential to the health of the markets.”