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And the relative underperformance of the bank's traders of late may just be a blip in their otherwise enviable record.
But none of this takes into account the price an investor is paying because of the relative underperformance of the funds compared with their peers.
In doing so it solves one problem – the relative underperformance of summer-born children in GCSE exams – and substitutes new ones.
"Thus, from the perspective of the mutual fund company, the relative underperformance of young managers in the postbubble period turns out not to be that costly," they report.
Hedge funds, though, remain the industry's problem child – hence the relative underperformance of Man Group Plc, the world's biggest publicly traded hedge fund.
And you say one third of the relative underperformance is asset allocation and two thirds is individual managers.
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The bank said: We believe the recent relative underperformance could be a good entry point ahead of full year results on 27 February.
We believe the recent relative underperformance could be a good entry point ahead of full year results on 27 February.
While no one can accurately call the bottom with any consistency, there are many signs that the bottom is near the relative underperformance of utilities and the relative outperformance of technology in February, just to name a couple.
Despite, ironically, a period of relative underperformance on the pitch in the post Sir Alex Ferguson era, the talk among supporters is now of who will follow Memphis Depay into Old Trafford rather than whether the Glazers will sell up.
MEXT has long acknowledged Japan's relative underperformance, and the need for more internationalisation, targeted funding, and loosening the hold of older professors over research departments.
More suggestions(15)
the relative backwardness
the relative delay
the relative failure
the relative retardation
the relative yield
the academic underperformance
the relative silence
the relative sea
the systematic underperformance
the relative value
the relative lack
the relative calm
the relative reduction
the structural underperformance
the substantial underperformance
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com