Investment professionals at over two thirds of US asset managers are under pressure to deliver value on their long positions within a year, according to a new report, which warns that employers who take a short-term view on evaluating performance might encourage managers to take unnecessary risks.

The report by consultants Cerulli Associates is based on a proprietary survey of institutional and retail investment managers, the majority of which were long-only. It found that 68% of asset managers surveyed evaluate their staff on a time frame of 12 months or less.