Ralph outlines deadly MM sins

Multi-manager Chris Ralph from boutique Maia Capital believes investor timeframes are dropping ever ...

Multi-manager Chris Ralph from boutique Maia Capital believes investor timeframes are dropping ever lower, with negative consequences for those seeking higher returns. In 1990, turnover on the UK equity market was around 40%pa, equivalent to a holding period of 35 months, but today that turnover stands at 170%pa, equivalent to seven months. This characteristic, which he terms impatience, is one of the seven deadly sins of multi-manager investing he highlighted to delegates at the Roadshow. The second is cowardice, which he defined as managers that lack conviction. Maia, which launch...