Fund groups need to set their managers free

SELECTION

Spending all our time researching multi-manager portfolios, some very interesting issues sometimes arise.

One aspect of fund management which is always at the forefront of our minds is just who is really in charge when it comes to the day to day business of managing clients’ money? In our experience, there is an increasing trend for investment houses to run their funds in a way which makes us ask who is really driving the bus – fund managers, or marketing departments? Before our offices are stormed by irate marketing directors, I should perhaps explain what we mean and what leads us to that question. Portfolios which are expected to remain within absolute volatility boundaries. We fully ...