It seems paradoxical: In theory, active managers in the aggregate should not generate consistent alpha because for one investor to beat the market, another must lag it.i,iiYet some active managers seem to do better than others – for instance, PIMCO has consistently applied unique insights to seek positive alpha on an after-fee basis for more than 40 years.

Click here to read PDF.

The Author

Mihir P. Worah

CIO Asset Allocation and Real Return

Ravi K. Mattu

Global Head of Analytics