000075673 001__ 75673
000075673 005__ 20220525082803.0
000075673 0247_ $$2doi$$a10.1016/j.najef.2017.09.006
000075673 0248_ $$2sideral$$a101751
000075673 037__ $$aART-2017-101751
000075673 041__ $$aeng
000075673 100__ $$0(orcid)0000-0002-2525-9049$$aAlda, Mercedes$$uUniversidad de Zaragoza
000075673 245__ $$aLearning about individual managers' performance in UK pension funds: The importance of specialization
000075673 260__ $$c2017
000075673 5060_ $$aAccess copy available to the general public$$fUnrestricted
000075673 5203_ $$aThis study examines the performance of managers over time, as well as its persistence, taking into account both manager characteristics and market conditions. Applying parametric and non-parametric methodologies, we examine a sample of UK equity pension fund managers. Our results help to understand the importance of manager assignments in the industry and reveal the importance and benefits of management specialization. We find certain manager performance persistence, revealing that some managers are better than others and possess superior investment skills. Additionally, we find that managers achieve better results when they run a single fund or one investment-objective funds, which allows managers to focus on specific tasks. Nonetheless, manager performance varies with market conditions and highlights managers’ different skills. Specialist managers perform better in bullish markets, and generalists perform better in bearish periods.
000075673 536__ $$9info:eu-repo/grantAgreement/ES/DGA/268-219/1$$9info:eu-repo/grantAgreement/ES/MINECO/ECO2013-45568-R
000075673 540__ $$9info:eu-repo/semantics/openAccess$$aby-nc-nd$$uhttp://creativecommons.org/licenses/by-nc-nd/3.0/es/
000075673 590__ $$a1.098$$b2017
000075673 591__ $$aECONOMICS$$b182 / 353 = 0.516$$c2017$$dQ3$$eT2
000075673 591__ $$aBUSINESS, FINANCE$$b58 / 98 = 0.592$$c2017$$dQ3$$eT2
000075673 592__ $$a0.634$$b2017
000075673 593__ $$aFinance$$c2017$$dQ2
000075673 593__ $$aEconomics and Econometrics$$c2017$$dQ2
000075673 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/acceptedVersion
000075673 700__ $$0(orcid)0000-0003-3661-5448$$aAndreu Sánchez, Laura$$uUniversidad de Zaragoza
000075673 700__ $$0(orcid)0000-0001-6078-0465$$aSarto Marzal, José Luis$$uUniversidad de Zaragoza
000075673 7102_ $$14002$$2230$$aUniversidad de Zaragoza$$bDpto. Contabilidad y Finanzas$$cÁrea Economía Finan. y Contab.
000075673 773__ $$g42 (2017), 654-667$$pNORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE$$tNORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE$$x1062-9408
000075673 8564_ $$s309194$$uhttps://zaguan.unizar.es/record/75673/files/texto_completo.pdf$$yPostprint
000075673 8564_ $$s48112$$uhttps://zaguan.unizar.es/record/75673/files/texto_completo.jpg?subformat=icon$$xicon$$yPostprint
000075673 909CO $$ooai:zaguan.unizar.es:75673$$particulos$$pdriver
000075673 951__ $$a2022-05-25-08:24:25
000075673 980__ $$aARTICLE