The income alternative

Is manager selection top-down or bottom-up, and how many funds are in the portfolio?

Our approach is purely bottom up. We do not asset allocate across strategies as we have no evidence that such a subjective and directional approach adds value consistently. Our research highlights the difficulty of imposing a directional approach. If an investment manager is successful calling the future direction of a particular financial asset class, it is practically impossible to determine which fund will

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