Four ex-Ardevora AM managers set up asset management venture

Heuristik Capital

Former Ardevora Asset Management fund managers Emilia Beck-Friis, Ben Fitchew, William Ayres and Fifo Afaf Auf have set up their own asset management venture.

Named Heuristik Capital, the four managers will use behavioural investment tools to understand bias in markets, said Beck-Friis in a LinkedIn post. According to the firm's page on LinkedIn, they will base their approach on the work of Daniel Kahneman on cognitive psychology in markets in the 1970s. Ardevora Asset Management shuts its doors after 14 years The company noted that around 65% of sell-side analysts have a "yearly earnings forecast error of above 10%", while the International Monetary Fund failed to forecast all recessions the year before they happened over the last two d...