Mom turnover harder than claimed

While marketers might claim manager of manager (Mom) funds can change their underlying funds immediately and without excessive cost, the reality, as can be seen by increasing use of groups to oversee transition periods, is hardly so straightforward

While marketing material often claims the manager of manager (Mom) approach allows holdings to be changed immediately, many groups admit that this is not always realistic. Andrew Humphries, divisional director of asset management for St James Place, said: "In an ideal world, you would like the notice period to be as short as possible, but it is often a month or a full quarter. The period can be different, as managers have varying contracts but, on average, our notice term is a month. We would like to be able to give overnight notice, but from a business perspective it is just not always p...