Yet another multi-manager on the move

With Richard Philbin's departure from F&C last week, every front-line multi-manager, with the except...

With Richard Philbin's departure from F&C last week, every front-line multi-manager, with the exception of Jupiter's John Chatfeild-Roberts and New Star's team, has changed job at least once in the past three years. The arguments about high turnover and lack of loyalty are well versed, without repeating them again here. Suffice it to say that multi-manager has sold itself as a proposition able to take the investment burden away from intermediaries, freeing them up to run their businesses and advise clients. One of the alleged reasons behind this growing investment burden is the level ...