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A 'year of disappointment' for quant managers

Pension schemes suffered a year of disappointment from quantitative active equity managers during 2007, according to investors speaking at a Financial News conference in London yesterday.

Chief investment officers at three of Europe's larger schemes told the European Pensions and Savings Summit that they had been let down by quantitative fund managers in particular (who follow computer models as opposed to fundamental research) and active fund managers in general.

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