Behavioural finance is the way forward

Gosling's Grouse

The past decade has thrown up many fascinating developments for me in terms of fund groups, distribu...

The past decade has thrown up many fascinating developments for me in terms of fund groups, distribution, consolidation, fund managers and remuneration. Two groups I believe have had a significant impact on a number of these areas, probably out of proportion to their overall size in terms of assets under management, are Liontrust and Thames River Capital. Both were founded by salesmen, backed by the same rich entrepreneur, and created investment environments that suit the eclectic and, in some cases, maverick personalities of their fund managers. It might be an irony for some, but for tw...