Manager tenure blights long-term investment theme

With a further three high-profile fund manager departures last week, the concept of long-term invest...

With a further three high-profile fund manager departures last week, the concept of long-term investing with a single individual is once again looking like an impossible aspiration. With Tom Carroll leaving Schroders, Chris Rodgers HSBC and Niall Gallagher Merrill Lynch in a single week, what price is a manager with a five or even a three-year track record on the same fund? The long-term track records offered by managers such as Nils Taube are no longer realistic in the era of frequent job changes, which can only be to the detriment of investors. Such individuals are becoming rarer by th...