Automated investment management: Comparing the design and performance of international robo‐managers
研究了德国、美国和英国15家机器人经理的定性和定量表现，发现各国均有表现突出的产品，且再平衡成本对绩效影响较小。
Abstract Robo‐managers offer automated asset management; however, their overall performance is highly debated. We analyze 15 robo‐managers from Germany, the United States and the United Kingdom by conducting a comprehensive qualitative and quantitative study. The qualitative comparison shows considerable differences between the various robo‐managers, not only across but also within countries. The quantitative evaluation utilizes different measures to evaluate the performance of the robo‐manager sample. Our results indicate that each country has one particularly favourable robo‐manager. Furthermore, we find that the costs and characteristics of rebalancing measures have only a small effect on performance.