Martijn Cremers

Martijn Cremers

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Professor of Finance

Office: 264 Mendoza College of Business
Phone: 574-631-4476

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Areas of Expertise

Investment management, social investing, mutual funds, pension funds, corporate governance, executive compensation

Cremers’ research focuses on empirical issues in investments and corporate governance. His academic work has been published in top academic journals such as the Journal of Finance, the Review of Financial Studies and the Journal of Financial Economics. At Notre Dame, he teaches courses on fixed income markets and corporate governance to MBA and undergraduate students. His paper “How active is your fund manager? A new measure that predicts performance,” published in 2009 in the Review of Financial Studies, introduced a measure of active management named “Active Share,” which is based on a comparison of the holdings of a fund with those of its benchmark. The “Active Share” measure has become widely used in the financial industry and was incorporated in Morningstar Direct and FactSet. Hailing from the Netherlands, he was a faculty at Yale School of Management from 2002-2012 after obtaining his Ph.D. in finance from the Stern School of Business at New York University.


Financial Times (U.K.) — Benchmark-hugging fund managers underperform, new study shows
CNBC — Find out if your fund manager is a ‘closet indexer’
The Wall Street Journal — Is Your Mutual Fund Hiding in the Closet?
The Wall Street Journal — How Closet Indexing Minimizes the Fund Manager’s Risk — Not Yours
The Wall Street Journal — Active vs. Passive? Choose Both
CBS News — How Pope Francis turned around troubled Vatican bank
U.S. News & World Report — Francis Challenges Us All
Bloomberg — How Not to Police Mutual Funds
Reuters — Index funds and avoiding the generics paradox
TIME — New Study Identifies the Most Underappreciated Investment Skill
Financial News — Danish regulators launch probe into ‘closet indexers’
The Wall Street Journal — The Peculiar Passivity of Active Management
Financial Times — Active fund managers are closet index huggers
The Wall Street Journal — How to Find a Fund Manager Who Can Beat the Market