How can one define the appropriate benchmark asset-class in the case of a new drug for a rare disease?

ECONOMIST: Economics focus

The large percentage of outperformance among international small managers may result from a large portion of them holding a different asset class and being compared to the wrong benchmark.

FORBES: Playing With Active Money Managment Is A Losing Game

Since its inception in 1998, the fund's investor share class has returned a compound 5.7%, versus 5.9% for its benchmark, Lehman Brothers' U.S. Corporate High-Yield Index.

FORBES: Magazine Article