Wealth manager Tilney has cut the number of third-party funds held in portfolios from 70 to 30 due to "mediocre" performance by many active managers.
Chief investment officer Chris Godding (pictured), who joined Tilney a year ago, said the decision had been taken to eliminate "the low-hanging fruit" from portfolios. The move was also driven by Tilney's...
Round-up of diversity coverage
Latest news and analysis
Also introducing administration fee
Case opened on 13 November
Seeking assets with social and environmental impact