PGIM: The impact of market conditions on active equity management

| |
Since the financial crisis, investors have enjoyed generally benign conditions, with subdued volatility and strong markets, but active equity managers have remained under pressure. This should not be surprising; history has shown a strong pattern of counter-cyclicality in manager excess returns relative to the equity market. The Impact of Market Conditions on Active Equity Management takes a close look at the relationship between equity market conditions (defined by market returns, volatility, and dispersion) and active equity manager results.

Continue reading at Prudential Research →