Craig Lazzara, CFA  is Managing Director and Emeritus Global Head of the Index Investment Strategy Group at S&P Dow Jones Index based in the USA and spoke with IMAP during his time in Australia

• Craig spoke to S&P DJI research showing that index investors have an above-average chance of achieving above-average investment results.
• He debates his view that most active managers under-perform most of the time, with any out-performance tending to be temporary. 
• The effect of transaction costs contributing to the net performance difficulties for active investment management
• The use of wider dispersion across assets as a way to measure the potential value of stock selection ability to construct an index-beating portfolio 

Moderated by David McDonald, CFA of IMAP