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There are three basic approaches to style analysis: (i) an examination of the portfolio and security selection procedures used by the fund managers, (ii) a factor model approach, and (iii) return‐based approaches, all with their own strengths and weaknesses. Of the return‐based methods the effective asset mix approach, as devised and popularised by Sharpe, offers the investor the simplest route to style analysis. This study applies this approach to a sample of 37 property funds in the UK and shows that style analysis can make an important contribution to the analysis of portfolio performance. Results that should prove of considerable interest to fund managers and property professionals alike.

This paper addresses itself to the political dimension of the question of life-style (and of a particular model of development to achieve that life-style), which has lately acquired exceptional salience and is widely as well as hotly debated because, rooted as it is in the intolerably asymmetrical and inequitous structuring of the relationship between resources and groups of human beings, it has generated all-round conflict, both domestically (in the societies of the South) and internationally (between North and South and South and South), and is inexorably leading to a disastrous confrontation. It questions the prevailing belief, fostered no less by pressure than by blandishment and example, that development strategy is meant only for the underdeveloped unindustrialized South. It holds that it is even more pertinent for the overindustrialized maldeveloped North, which, having overfed on colonial exploitation, has become prisoner of a self-created cultural paradigm, and therefore needs to liberate itself by relearning that there can be neither freedom, self-fulfilment, nor peace without a measure of self-control. Because this process of relearning is not easy, it will require the help of pressure from the South in co-operation with sensitive and concerned individuals and groups in the North.

The political dimension of the question of lifestyle (& of a particular model of development to achieve that lifestyle) is considered -- a topic that has generated conflict, both domestic (in the societies of the South) & international (between North & South & South & South). The prevailing belief that developed strategy is meant only for the underdeveloped, unindustrialized South is questioned. It is even more pertinent for the overindustrialized, maldeveloped North, which, having overfed on colonial exploitation, needs to liberate itself by relearning that there can be no freedom, self-fulfillment, or peace without self-control. This process of relearning is not easy, & will require pressure from the South & sensitive & concerned individuals & groups in the North. Modified HA.

The practice of policy analysis requires an ability to understand the political context of decisions. This political sensitivity involves a readiness to address certain intellectual questions. In order to answer these questions about the political environment, a practitioner needs to have a particular cognitive style. Examination of empirical studies of planners shows understanding of the political environment among these practitioners to be associated with a distinctive cognitive map and related cognitive style. This cognitive style should be considered part of the requisite expertise for policy analysis. Practitioners without this cognitive style are likely to have little influence in decision making.

This article, by the chairman of the Department of Journalism at the University of Kentucky, is based on research growing out of the author's doctoral dissertation at the University of Wisconsin on Watterson as a political leader.