Additional notes: Simon has extensive experience working in the active multi-manager space and has noted that in recent times, active multi-manager investments in listed equity has come "under attack" from (at least) 4 directions:

1) Better returns on private equity/property/infrastructure with less risk,

2) Underperformance of active versus passive,

3) Underperformance of active versus Smart Beta, and

4) Multi-managers have lower tracking errors (or active share) but charge you higher fees.

In this discussion, Simon will address all four directions of attack, and then discuss why it may still make sense to invest with an active multi-manager. We will then open the table to hear other attendees opinions on this (very) relevant topic.

If you would like to attend, please rsvp using the following link:

mailto:qrsvp@qgroup.org.au?subject=[SYDNEY]_I_would_like_to_attend_lunch_series_June_2019

We will respond to all rsvps so that you can be certain whether a spot has been allocated.

If you are interested in being the discussion leader for a particular topic, then please contact us at qcommittee@qgroup.org.au. In the long-term, our aim is for most (all?) members to lead a discussion at a lunch series event, so please do not be shy in contacting the committee.

Kind regards,

The Q-Group Committee
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