Royce Funds How have narrow credit spreads, lower-than-average volatility, and higher-than-usual small-cap returns put pressure on active stock pickers with a quality focus?
The Perfect Storm For Risk-Aware Active Managers
Michael Gelband’s Exodus Point launched in 2018 with $8.5 billion in assets. Expectations were high that the former Millennium Management executive would be able to take the skills he had learned at Izzy Englander’s hedge fund and replicate its performance, after a decade of running its fixed income business. The fund looks to be proving Read More