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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...
Calm down, activistas — passive is a drop in the ocean
Make no mistake, the fund industry PR machine is in overdrive. Every day in the trade press I see articles dissing passive and extolling active management. Most of them are big on rhetoric and light on factual detail, and as such barely...
New research highlights the self-serving nature of the fund industry
One of the biggest problems with the fund industry is that the interests of the fund manager and the end investor are fundamentally misaligned. Yes, of course, individual managers want to see better outcomes for their clients. But they wouldn’t be human...
#SFTW: Struggling to get through to someone? Try humour
SOMETHING FOR THE WEEKEND Humour Believe me, I’ve thought long and hard about how to get it through to people that the way most of us invest is idiotic; that we’re effectively funding other people’s retirement (plus their salaries and bonuses) more than...
More extraordinary revelations from the former head of the fund industry
I must say I can’t quite get used to the idea of Daniel Godfrey as a consumer champion. But he’s doing a brilliant job. Godfrey was for three years CEO of the Investment Association — effectively the figurehead of the UK asset...
Want to make active funds look good? Just use the wrong benchmark
You can see why Jack Bogle’s turn of phrase gets under the skin of his detractors. Take, for instance, this famous assertion in The Little Book of Common Sense Investing: Benchmark. “If the data doesn’t prove that indexing wins, well, the data...
Fund managers — faithful stewards of our wealth?
It’s a mark of how successful fund industry PR and advertising is that most people consider fund managers rather glamorous people. We tend to focus on their skill, their intelligence and their ability to take risks under pressure — all of which are...
