Thames River MMs slam underperforming funds

Thames River multi-manager heads Rob Burdett and Gary Potter's latest quarterly report on the fund management industry shows just 2.68% have posted top quartile performance over the three years to Q2 2011.

However, the figure is up from 1.4% in Q1, with funds in the UK All Companies, UK Smaller Companies and Japan sectors delivering above average performance. In his FundWatch report, Burdett said there has been an improvement in returns from all three sectors, which has meant the proportion of funds delivering above the median has risen from 8.6% last quarter to 13%. He named Paul Marriage's £55m Cazenove UK Smaller Companies fund as the standout performer for Q2, returning 15.4% compared to the sector average of 2.5%, in the IMA UK Smaller Companies sector. “Of the 1,268 funds in th...