{"id":5389,"date":"2013-09-23T05:51:17","date_gmt":"2013-09-23T11:51:17","guid":{"rendered":"http:\/\/www.zmetro.com\/?p=5389"},"modified":"2013-09-23T05:51:17","modified_gmt":"2013-09-23T11:51:17","slug":"billions-of-dollars-wasted-on-investment-advice","status":"publish","type":"post","link":"http:\/\/www.zmetro.com\/?p=5389","title":{"rendered":"Billions of dollars wasted on investment advice"},"content":{"rendered":"<p><A href=\"http:\/\/www.ft.com\/intl\/cms\/s\/0\/f20eb888-213a-11e3-a92a-00144feab7de.html?siteedition=intl#axzz2fiR7L1EL\">Steve Johnson<\/a>: <\/p>\n<blockquote><p>On an equal-weighted basis, US equity funds recommended by consultants underperformed other funds by 1.1 per cent a year between 1999 and 2011, according to analysis of 29 consultancies accounting for more than 90 per cent of the market by a team from Oxford university\u2019s Sa\u00efd Business School.<\/p>\n<p>\u201cThe enormous power wielded by consultants is not matched by their performance,\u201d said Jose Martinez, one of the authors of the study.<\/p>\n<p>\u201cIn US equities, one of the largest asset classes, investment consultants as an industry appear to add no value in fund selection,\u201d added co-author Howard Jones.<\/p><\/blockquote>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Steve Johnson: On an equal-weighted basis, US equity funds recommended by consultants underperformed other funds by 1.1 per cent a year between 1999 and 2011, according to analysis of 29 consultancies accounting for more than 90 per cent of the market by a team from Oxford university\u2019s Sa\u00efd Business School. \u201cThe enormous power wielded by [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/5389"}],"collection":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5389"}],"version-history":[{"count":0,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/5389\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5389"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}