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Using Active Share and tracking error, Antti Petajisto organizes all-equity mutual funds into various categories of active management and explores the relationships and performance between the most active stock pickers and closet indexers. Petajisto discusses these results in detail, from his July/August 2013 Financial Analysts Journal article, “Active Share and Mutual Fund Performance.”

This is an archived recording of a live webinar that took place on 28 October 2013.

About the Speaker(s)

Antti Petajisto
Antti Petajisto

Antti Petajisto is a researcher and portfolio manager at quantPORT, a systematic multi-strategy asset manager and formerly the proprietary trading desk of Jefferies. Previously, he was a portfolio manager and researcher at LMR Partners, a multi-strategy hedge fund, as well as in BlackRock’s Scientific Active Equities group, where he focused on researching new alpha signals and implementing quantitative trading strategies in global equity markets, including emerging markets. Dr. Petajisto has also worked as a finance professor at the Yale School of Management and the NYU Stern School of Business, where he taught MBA courses on investments, portfolio management, and behavioral finance. His academic research includes the development of the Active Share concept for quantifying active portfolio management, performance evaluation of money managers, pricing inefficiencies in exchange-traded funds, and the price impact of passive indexing strategies. Dr. Petajisto has an MSc in engineering physics from the Helsinki University of Technology and a PhD in finance from the MIT Sloan School of Management.