Checks andbalances

While the investment process used by fund managers may have changed little over the years, the way it is communicated to advisers and investors has been greatly influenced by one key event ' Morgan Grenfell and Peter Young. The negative publicity generated by these events highlighted the need for a system of checks and balances for all involved in the fund management process, no matter their reputation, skill, or otherwise. Although the Morgan Grenfell issue was speedily and fairly resolved, this was a wake-up call for the fund management industry, acting as a timely reminder of wha...