Departures not necessarily bad news

Coping with star fund manager departures has become an increasingly important part of investment houses' business strategy in recent years, as the number of defections has continued to gather pace. To ascertain whether a star manager departure is always negative for the fund they leave behind, the March issue of Investment Week's sister paper Investment Strategies examined several recent high-profile movers, showing how their successors have gone on to perform. Although the skills and reputation of star fund managers can be an extremely useful sales tool, it can be dangerous to rely on...