FYI: (Click On Article At Top Of Google Search)
How active is your fund manager? Nearly A decade ago, Martijn Cremers and a colleague at Yale School of Management posed this question and identified a way to help answer it: Look at the percentage of a fund’s weight-adjusted portfolio that differs from its benchmark.
This metric, called active share, is a quick gauge of whether a manager is truly doing something different or simply mimicking a benchmark. It’s a blow against so-called closet indexers—supposedly actively managed funds that charge for that manager’s expertise, yet look very similar to a broad benchmark. To beat the benchmark, you need to be different from it. That is the point of active management.
Regards,
Ted
https://www.google.com/#q=A+Fitbit+for+Funds+Barron'sActive Shares Website:
https://activeshare.info/Active Shares Example PRHSX:
https://activeshare.info/fund/t-rowe-price-health-sciences-fund-inc
