Only 5% of UK All Cos boast 5 year record

The gap is even more pronounced for North American funds, with just the single fund out of 62 beating the median in every year. F&C’s multi-manager director Richard Philbin says the figures highlight the value of identifying managers who can deliver consistent returns. “It just shows you cannot expect every fund manager to perform above average year in year out,” he says. “You need to try and find those who can deliver consistent returns, and put together the different managers doing different things at different times.” Dean Cheeseman, who co-manages F&C’s £1bn multi-manager range...