Benchmark game drags active managers down, US investor argues

Two trends are making US equity indices increasingly concentrated and momentum-oriented. As a consequence, many active managers' portfolios are becoming progressively limited to a narrow group of stocks. Money managers must think differently to generate long-term alpha, one US portfolio manager contends.
Brian Massey is co-founder of and portfolio manager at the US-based Mar Vista Investment Partners. | Photo: PR
Brian Massey is co-founder of and portfolio manager at the US-based Mar Vista Investment Partners. | Photo: PR

Berkshire Hathaway, Markel, XPO Logistics, American Tower and Honeywell.

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