Broker focus gives Rattray top-decile returns

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GLG Esprit Continental Europe manager implements process based on broker recommendations to produce top-decile numbers.

Sandy Rattray assumed control of GLG Esprit Continental Europe in 2009 amid the firm’s takeover of SGAM, implementing a process based purely on broker recommendations. It was a risky move to change a top-performing process, but the early signs are good. In the last year, the fund has returned 23.2% versus the IMA Europe ex UK average of 15.3%. Rattray joined GLG in 2007 after 15 years at Goldman Sachs, during which time he was a co-inventor of the VIX index. Such an academic pedigree is evident on the European process, started back in 2005 as GLG looked to identify which brokers were add...

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