The amleague study indicates that active asset managers can add value compared to benchmarks, with an average yearly outperformance of 1.6% in stagnant equity markets, and greater performance in bear markets. The study also emphasizes that using a quantitative selection methodology can significantly enhance this value, evidenced by the amleague_europe 75 index achieving a 4.8% annualized spread against a passive benchmark since its inception. Overall, the findings support the assertion that active asset managers do create value that can be operationally replicated.
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