IRISH STOCK EXCHANGE - INVESTMENT FUNDS 2012

In a more challenging, mature, and increasingly transparent market, this is unlikely to continue to be the case as it is increasingly possible to assembl performance records. Investors are becoming more assertive, and regulations/directives are playing an increasingly important role in the need for disclosure and accountability. The question of how manager performance is rewarded is therefore a key issue for the industry: do performance-related fees, for example, adequately distinguish between risk taking (higher beta) and genuine skill/out-performance (alpha)? ...