Hiding behind excuses: Assessing the fund manager performance challenge
Dashing to cash
Garraway Capital Management's Malcolm Schembri
Most fund managers went into the pandemic holding the wrong companies. As the spread of the virus and the resultant economic carnage became increasingly apparent, many dashed to cash and other safe haven investments.
Unfortunately, this only meant that the stockmarket recovery was missed. The results have not been great, with the average fund within the global equity sector underperforming the market. Excuses ...
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