This groundbreaking new book answers an essential question: why is it that a fund client selects, or an investment consultant recommends, one asset manager over another when the two are, on paper at least, very similar? Also, why is it that some asset managers maintain their mandates during difficult periods in the cycle and others don't, even though their performances are identical? Authors Herman Brodie and Klaus Harnack investigated the drivers of these selection decisions and uncovered that so-called 'soft' factors play the primary role - even more so for consultants than for...