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...
Songs from writers Johntá Austin, Sean Garrett and Rico Love
Analysts in bullish mood
Uncertainty has resulted in 2% less growth
Expected to complete in Q2