Are fund managers getting out at the right time?

With the summer an increasingly distant memory, fund managers are now back at their desks and starting to navigate Q4 - that is, with a few notable exceptions.

Recent months have seen a number of high-profile retirement announcements, consolidating a trend that kicked off in earnest last December, when Investment Week revealed Jupiter’s Anthony Nutt was to retire this year. Nutt has been followed this summer by the likes of his colleague Philip Gibbs, Fidelity’s Anthony Bolton and his successor Sanjeev Shah, and Liontrust’s Gary West. All have either stepped down from fund management or outlined their intention to do so in the near future. These managers undoubtedly all have different reasons for doing so. Bolton’s (second) retirement was li...