Ph.D. and M.B.A., finance, Anderson Graduate School of Management, University of California, Los Angeles; B.S., chemical engineering and metallurgical engineering, University of Idaho
Summary of Experience
Professor Wermers is an expert on mutual fund performance measurement, the impact of mutual funds on stock markets, empirical tests of the efficiency of stock markets, and the role of institutional investors in setting security prices. His research created state-of-the-art approaches to measuring and attributing the performance of portfolio managers. His research also addresses whether investment managers who actively manage their portfolios can consistently beat the results of passively managed index funds. His papers have been published in leading scholarly journals, and he coauthored Performance Evaluation and Attribution of Security Portfolios, a text on the latest scientific approaches to performance evaluation and attribution of professional fund managers. He has won numerous awards for his research and teaching. Professor Wermers has served as an expert witness in numerous matters, including challenges to mutual fund fees under Section 36(b) of the Investment Company Act, ERISA litigations challenging the selection of investments for plans, and disputes over investment suitability.
D. Lee Heavner