Authored by: Jacqueline Williams

Constructing Superior Equity Portfolios

Executive Summary A common perception among investors that employ active equity management is that the “donut” structure—an all-active manager structure often composed of four or more high conviction managers—is more aggressive, more expensive, and riskier than the “core-satellite” structure—which blends active and passive management by adding a large passive core component to the donut—because of…