Welcome to the start of the fund manager merry-go-round

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The first hint of spring - and the end of the tax year when bonuses are paid - has seen the inevitab...

The first hint of spring - and the end of the tax year when bonuses are paid - has seen the inevitable start of the fund manager merry-go-round. Last year, by Investment Week"s reckoning, 123 fund managers running portfolios in the retail space moved jobs, quit or were made redundant. It was mainly the bond managers who banked their big bonuses after a five-year bull run and decamped to new pastures. Good timing on their part as the bull run ended and the bond managers will have to get back to the equivalent of investment obscurity and hand over the baton to their equity colleagues. Last ...