This article provides the key findings of Edhec European Alternative Multi-management Practices Survey. It provides a detailed summary of the results of the survey of the 61 multimanagers carried out, as well as details of the research performed both by Edhec and numerous other professional and...

Despite repeated evidence that asset allocation accounts for a very large fraction of a portfolio return, the industry has never stopped favouring stock picking as the preferred form of active investment strategy. In this paper, we attempt to rehabilitate the importance of active asset...