Hermes CEO: Industry 'constantly searching' for next Woodford

Fund manager skill rare

Jayna Rana
clock • 2 min read

Saker Nusseibeh, CEO of Hermes Investment Management, has said true fund manager skill is rare and warned there is not enough for every client.

Speaking as part of a panel debate in front of an audience of advisers and fund buyers at the Morningstar Investment Conference 2016, Nusseibeh (pictured) said asset management is a "simple business but not an easy business". He added: "The industry has a conundrum; there is skill but true skill is very rare. The industry tries to pretend there is a huge amount of skill going to everybody but there is not enough to go around for all clients. "It is constantly searching for the next person with skill - the next Woodford - either by hiring expensive people or creating more complex probl...

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