Category: Governance

The decline of active management

Ryan takes a look at managers through an active share lens to classify managers into different styles of active management. He then combines active share with tracking error (discussed in the previous article) to determine the true style of investment funds. This article was first published in Benefits Canada. Follow this link. http://www.benefitscanada.com...

Picking a winner: A tool for selecting active managers

Ryan Kuruliak, Vice President, has written an article in Benefits Canada entitled Picking a winner: A tool for selecting active managers "My previous article discussed techniques for monitoring an investment manager’s track record to avoid making poor (and expensive) hire/fire decisions. In that article I also promised to introduce a tool investors can use...

Is your money manager skilled or just lucky?

Ryan Kuruliak, Vice President, has written a recent article in Benefits Canada entitled Is your money manager skilled or just lucky? "In my previous articles, I demonstrated the benefits of investors extending their time horizon when evaluating an investment manager’s performance because it’s almost certain that even the best managers will underperform at...

Alternatives: Time For Consideration In DC Plans?

Jeff Gray, Vice President at Proteus, has written a recent article in Benefits and Pensions Monitor entitled Alternatives: Time For Consideration In DC Plans? "There is no shortage of evidence that a high percentage of DC plan members have embraced the 'selection simplicity' of target date type funds. Likewise, plan sponsors have widely adopted the dynamic...

The danger of paying too close attention

Ryan Kuruliak, Vice President, has written a recent article in Benefits Canada entitled The danger of paying too close attention "Manager performance is often monitored by committees over a quarterly or monthly basis, and while investment oversight is a necessary and prudent function of fiduciaries, it can also be dangerous."...

Predictable underperformance

Ryan Kuruliak, Vice President, has written a recent article in Benefits Canada entitled Predictable underperformance "While most investors employ active management in an attempt to achieve market beating performance, I don’t believe investors fully realize just how likely it is that they will have to endure bouts of short to longer term underperformance in...

The risks of reaching for yield

Ryan Kuruliak, Vice President, has written a recent article in Benefits Canada entitled The risks of reaching for yield "Pension plan sponsors require higher income to pay pension promises and higher returns to close the gap between their assets and liabilities. It’s not a surprise"....

A tale of two funds: Assessing performance

Ryan Kuruliak, Vice President, has written a recent article in Benefits Canada entitled A tale of two funds: Assessing performance. "Based solely on the amount invested by institutions in Canadian equity mandates, it would appear that most Canadian institutional investors still prefer active management to passive benchmark replication in this particular...

Six questions to ask your investment consultant: Part 2

Ryan Kuruliak, Vice President, has written a follow-up article to "Six questions to ask your investment consultant". Ryan's previous article examined three themes—investment consultant expertise, service models/service delivery and retention of professional staff—in the context of questions to include when creating a request for proposal (RFP) for...

Six questions to ask your investment consultant: Part 1

Ryan Kuruliak, Vice President, has written a recent article in Benefits Canada entitled Six questions to ask your investment consultant: Part I "The goal of the RFP exercise is to find an investment consultant who will become a trusted advisor to fiduciaries; thus, it is critical that the RFP exercise identify the most appropriate candidates who are capable...

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