Harries: Avoid ‘young guns' and stick with experience

Managers must consider client expectations before building portfolio, Harries warns

Mark Harries of Scottish Widows Investment Partnership has warned against investing in new managers in the hope of finding the next Anthony Bolton. Harries, head of multi-manager, said experience is vital across all fund management disciplines and he has prioritised tried and tested managers in his portfolios. “The average experience of managers in our portfolio is 25 years. We do not like the idea you should buy the next young gun, straight out of college, who might be the next Anthony Bolton. 999 out of 1,000 will not be the next Anthony Bolton. Our money goes to managers who are t...