Trustees of the Pallor Corp. pension plan ask consultant Donald Millip to comment on the following statements.
Question:
a. Median manager benchmarks are statistically unbiased measures of performance over long periods of time.
b. Median manager benchmarks are unambiguous and are therefore easily replicated by managers wishing to adopt a passive/indexed approach.
c. Median manager benchmarks are not appropriate in all circumstances because the median manager universe encompasses many investment styles.
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a Incorrect Valid benchmarks are unbiased Median manager benchmarks however are subject to significa...View the full answer
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