"So is the FCA's Asset Management Market Study the death knell for the sector?" I asked the chairman of the improbably-sized investment company Prandeamus Asset Management when I dropped by to see him this week.
"Oh why do you journalists have to be so melodramatic," he sighed, rolling his eyes. "Everything's always ‘death knells' and ‘debates', ‘plunges' and ‘crashes' with you lot isn't it?" "Sure," I nodded. "While you investment types are always the embodiment of Zen-like calm. But go on - answer the question. I'm not suggesting this is the end of asset management - clearly the passive sector looks set fair for a while to come but what about more active players like your good selves?" "For one thing, there are no active players like our good selves," the chairman replied. "And for another,...
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