There have been some great funds launched in the last few years - BlackRock Absolute Alpha is one and Schroders Income Maximiser another that immediately springs to mind.
Great products are partly about the fund manager and partly about timing. If the two collide you have a fund that can attract a lot of investor money and produce good performance. So what happens when the manager or managers of a top fund abruptly jump ship – as Schroders’ Lance and Purves did last week, leaving Income Maximiser’s investors and their advisers in a dilemma? Should they stay or should they go? Schroders acted quickly and sensibly and put the excellent Nick Kirrage jointly in charge, which should give everyone a bit of breathing space. No doubt many other groups will ...
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