Blake, David; Byrne, Alistair; Cairns, Andrew; Dowd, Kevin - 2005
-weighted) overseas equities. The vast majority of these
funds use passive management. The remaining three schemes offer a with … negative) excess returns generated by active management. The returns
received are also reduced by the pension fund annual …
arrangements.
Table 3 – Prob-Values of Randomness Hypotheses
Hypothesis x n q Prob-value
Active management default is …