Packing a punch

Buying your favourite stock ideas should hardly be a revolutionary concept. Funds that only invest in their manager's best ideas, however, have been some of the biggest selling products over the past few years. But - as with Longfellow's little girl with the curl - when they are good they are very, very good, but when they are bad… Whether they are known as focus, alpha or aggressive funds, this type of fund is intended to deliver out-performance over the long term by having the freedom to be able to invest in any stocks in any part of the market. The performance of these funds, however, ...