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"Almost all our managers underperformed their benchmarks," he said.
Of six investment classes, four failed to meet their benchmarks.
The study found that, on average, the consultants' recommendations underperformed their benchmarks by about 1 percent.
They charge like a hedge fund only when they beat their benchmarks.
Seventy-two of the funds — more than ninety per cent — failed to outperform their benchmarks.
Its emerging market holdings and private equities holdings exceeded their benchmarks by about 3percentt.
And in long-term performance programs, several companies added capital efficiency measures to their benchmarks.
Both Oxford and Cambridge are currently missing their benchmarks by around 20 percentage points.
Ms. Piaggesi starts by looking for funds that have beaten their benchmarks over five years.
The tasters scribbled their ratings on sheets to keep track of their benchmarks.
(Wisdom Tree's international E.T.F.'s have generally outperformed their benchmarks, however).
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Justyna Jupowicz-Kozak
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