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White Papers

The Power of Focus: Looking for Alpha in a Sea of Beta

With the popularity of focused strategies on the rise, Alger recently asked Greenwich Associates to explore the appetite for and popularity of focused strategies. The Power of Focus: Looking for Alpha in a Sea of Beta indicates that over the next 24 months, interest in focused equity products, which typically consist of 50 or fewer securities, is expected to increase among 56% of institutional investors. Key findings include:

• The need for increased alpha is driving the shift toward focused strategies;

• Proponents of focused strategies believe the best way to create alpha is to invest with managers who diverge from their benchmarks and allocate to their highest conviction ideas;

• Focused strategies typically exhibited lower risk, as measured by beta and down market capture, than strategies with a larger number of stocks.

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