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Introducing our new portfolio review service for professionals

    The vast majority of pensions funds, charities, endowments and other institutional portfolios have underperformed the market for decades. The way to stop the rot is to have an independent portfolio review, reduce fees and complexity, and increase diversification. From today, that’s precisely what TEBI is offering.   As anyone who’s read The...

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How to beat the bank, by a former banker

It’s noticeable how some of the most forthright and articulate advocates for reforming the investing industry are those who’ve worked in it and experienced at first hand the different ways in which it fails consumers. Most TEBI readers will have heard of Josh...

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Lies, damned lies and private equity performance

A guest post by PRESTON McSWAIN   Are some investors placing votes in favour of private equity based on fake news? According to a recent McKinsey & Company Global Private Equity Review, in 2017 private investment managers raised a record sum of nearly $750...

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We don’t like losing. Ask any sports fan

We all like to get away from work at weekends, but some of us have funny ways of doing it. Me, I’m a sports fan. Barring Formula 1 or horse racing, I’ll watch pretty much anything. But my particular passions are Aston Villa...

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Six findings about investment consultants from academic research

After a big response to yesterday’s post on investment consulting, I thought that I would share some of the academic findings I quoted in a presentation format. Just to clarify, I’m not against pension funds and charitable trusts using a consultant. There are...

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Do investment consultants add value or subtract it?

    Investment consultancy is big business. In the UK alone, the institutional advice sector advises pension funds, insurers and charities on how at least £1.6 trillion of assets is invested. It’s also very lucrative, particularly for the “big three” firms — Mercer, Willis...

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Invoking Adam Smith to justify active management really is scraping the barrel

I used to be mildly amused by the myths emanating from the fund industry about the “dangers” of index funds. This is after all, the same industry that, in the run-up to the financial crisis, peddled products so lethal that the effects of...

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