It has been a tough few years for European managers, as the Continent has failed to recover from the blows dealt by the crash in 2008. This year, the pressures have escalated, with recession threatening in several eurozone states.
US fund managers have "failed" their clients by focusing on preserving their careers rather than growing clients' capital, according to Baillie Gifford's Ian Tabberer.
Investors using direct to consumer platforms are now among the largest shareholders in investment trusts, as a post-RDR revival for the sector gets underway.
Baillie Gifford has lifted its stake in Hargreaves Lansdown to over 5%, taking advantage of a fresh slump in the D2C platform's share price last week.
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Scottish fund managers have suffered outflows in recent months amid increased uncertainty over the outcome of the country's independence referendum.
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Short-termism can be seen across many sectors of the financial world, but are fund managers becoming too short term in their investment outlook, and how can the industry fight back against this trend?
The ever-faster treadmill of new issues in high yield gives plenty of scope for letting standards slide. Perhaps it is better to focus on established borrowers, argues Donald Phillips, manager of the Baillie Gifford's High Yield Bond fund.