Institutional investors focus on track records

A survey of Asian institutional investors recently conducted by AsianInvestor magazine has revealed some puzzling results. Perhaps in reaction to the extreme market events of 2008, investors report a focus on track record and brand, as well as risk management, when it comes to selecting external fund managers. This may reflect a desire to stick with those managers that performed relatively better during last year's turmoil, but at the risk of paying less attention to the process behi…