Smith Expert Draws Accolades in Movement to
Improve Capital Markets
Russ Wermers' recent work toward restoring integrity to capital markets has
garnered international recognition.
He has earned a top industry award for research into improving hedge fund
monitoring and was recently tapped to collaborate with other experts to redefine
global standards for evaluating investment management.
Wermers, associate professor of finance in the University of Maryland's
Robert H. Smith School of Business, captured
first place in the Investment Management Consultants Association’s 2012
Journal of Investment Consulting Academic Paper Competition. Announced Jan. 10,
the winning paper, 'Monitoring
Daily Hedge Fund Performance When Only Monthly Data is Available," is
forthcoming in the journal and cited by the association as "a useful process for
accurately forecasting daily returns of hedge funds, which helps advisors and
investors to better weigh the risk and value within their portfolios."
In the past year, Wermers published "Performance
Evaluation and Attribution of Investment Managers," a textbook detailing the
latest, most optimal methods for judging both active and passive managers of
mutual fund and hedge funds. The work prompted the 70,000-member Chartered
Financial Analyst (CFA) Institute to recruit Wermers to help devise the
curriculum for a new Certificate in Investment Performance Measurement – the
industry’s international accreditation for investment performance analysis.
Vojislav (Max) Maksimovic, the Dean's Chair Professor of Finance and chair of
Smith’s finance department, says the recent developments affirm Wermers – who
earned a university-wide teaching award in 2005 – "as both a research leader in
the field of global investment management and invaluable resource to Smith
finance students for cutting-edge insight to capital markets."
About the Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader
in management education and research. One of 12 colleges and schools at the
University of Maryland, College Park, the Smith School offers undergraduate,
full-time and part-time MBA, executive MBA, MS in business, PhD and executive
education programs, as well as outreach services to the corporate community. The
school offers its degree, custom and certification programs in learning
locations in North America and Asia.