PT  - JOURNAL ARTICLE
AU  - Wenling Lin
AU  - Phil Hoffman
AU  - Ann Duncan
TI  - Investing in Global Equities: <em>An Alternative Approach to Structuring Equity Portfolios</em>
AID  - 10.3905/JPM.2009.35.2.050
DP  - 2009 Jan 31
TA  - The Journal of Portfolio Management
PG  - 50--60
VI  - 35
IP  - 2
4099  - https://pm-research.com/content/35/2/50.short
4100  - https://pm-research.com/content/35/2/50.full
AB  - Hiring the right manager is crucial in capturing the alpha potential of a fully global approach to equity investing. Since 1999, global equity managers, as a whole, have outperformed a combination of U.S. and non-U.S. managers, although evidence of out performance is weaker over the longer term. Only 21% of these global managers have actually added value through their allocations to U.S. and non-U.S. stocks. Managers taking larger active country, sector, and stock bets outperform those who take smaller bets. The greater excess-return potential of global equity managers is due to the broader investment opportunities and additional sources of alpha associated with stock and sector selection across a universe that encompasses both U.S. and non-U.S. stocks.TOPICS: Global, equity portfolio management, portfolio construction