Morgan Stanley replaces R&M as FundCalibre's best equity fund manager

The index, which looks at asset managers with the most consistent track record of outperformance over five years, found Morgan Stanley's six equity funds outperformed their respective sectors by an average of 46.5%. River & Mercantile, whose UK equities manager Philip Rodrigs recently left the firm following an investigation into his professional conduct, was second with its five funds all outperforming their benchmarks by an average of 37%. The firm was closely followed by Baillie Gifford, who saw outperformance of 36.6% over five years versus their respective sectors while Hermes, w...