Sir, Well done on hitting the nail on the head in last week's Leader. Those of us who view client...
Well done on hitting the nail on the head in last week's Leader. Those of us who view client investment from an absolute return perspective were clapping loudly when Odey deservedly won the Investment Week European fund award.
You have highlighted both elements of the issue. Firstly, with the vast majority of retail funds being tied to traditional benchmarks, there is a desperate need for something different.
Iconoclastic and perceptive views are required, as opposed to sticking to the status quo simply because it has worked in the past, under very different macro economic, fiscal and monetary conditions.
Secondly, most advisers do not understand risk. They know that there is some kind of difference between volatility and loss but stop there, instead focusing upon glossy marketing material from providers to show that over the long term, equities always outperform bonds.
The new regulations for collectives allow retail fund management groups much greater flexibility in product structure and investment process. Let us hope that these new tools are taken up by those who wish to look forwards and not backwards.
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