Consistency dying out as managers continue to move around

The fund manager turnover story is hardly a new one but New Star's recent research on consistency of...

The fund manager turnover story is hardly a new one but New Star's recent research on consistency of returns made for alarming reading. According to the group's own figures, eight in 10 managers have been running their current funds for less than two years and 31% for under 12 months. New Star used the figures to plug the skills of its multi-manager team, which it said can keep close tabs on the constant turnover of managers in the UK. But as the recent departures of Gary Potter and Robert Burdett have proved, turnover can be just as significant, in impact if not frequency, in the fund of...