From alpha to beta

Frontier Capital Management's Michael Azlen is not just a self-confessed alpha sceptic, he is also a sceptic armed with a plethora of statistics to support his stance on why the majority of managers in traditional asset classes do not provide alpha and why a substantial proportion of hedge fund returns are also beta driven.Azlen founded Frontier Capital Management in 2004 after working in hedge funds for 10 years.Five of these years were spent as managing director of Asset Alliance Internati