The 1987 'Royal Event': An ill-fated asset-gathering exercise

A tough economic backdrop, no performance track record, or a lack of clout when it comes to distribution can all hamper a fund launch these days, but thirty years ago the challenges were very different.

Nowadays, the biggest fund buyers in the market - think Brewin Dolphin or Charles Stanley- are able to make or break a launch. Nonetheless, one only has to look at the launch of Neil Woodford's new offering to see how widely funds can be marketed. Adverts for Woodford Equity Income are everywhere, with brokers promoting their ability to sell the fund on every website with a link to finance. It was very different, of course, before the days of internet and email. John Allison, chairman of the agency who won the contract to launch the 'Royal Event' in 1987, one of the most success...