UK fund managers are often labelled as closet trackers due to the similarity of their performance re...
UK fund managers are often labelled as closet trackers due to the similarity of their performance results with the FTSE All-Share indices. This phenomenon has developed primarily as a result of risk controls but the lack of liquidity in the UK market and compliance requirements are other contributors to this ever-increasing trend. Homi Colah, partner of Apax Partners & Co and manager of the Artemis Momentum hedge fund, said investors expect absolute performance. He said if relative performance is the only criteria important to investors, they should invest in a tracker fund, as this would ...
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