When it comes to active management, two heads are better than one, and three heads are even better! Harnessing this insight to generate excess returns is a complex portfolio construction problem...

Peter Gunning

A large number of high conviction or "concentrated" equity funds have been released in recent years, all promising higher returns than traditional funds by focusing on the strongest stock selection ideas of a manager. This paper examines the evolution of high conviction funds, looking at why they have been developed, their risk/return characteristics and the broader implications for portfolio management...

Peter Gunning