IRRC Institute, Mercer – Tuesday, February 9, 2010
This report examines the investment horizon of active long-only equity managers across different geographies and styles between June 2006 and June 2009. The overall aim of the research was not to prove that long-horizon investing is and that short-horizon investing is (or visa versa), as we recognize that there is a valid role and function for all types of horizons and approaches to investment. Rather, the aim was to examine the extent to which there is a mismatch between the time horizon over which investors think and say they invest and how they actually invest. In this process, we examine how much short-termism exists and how that varies by region and by style.