Multi-asset interview: Seneca's Peter Elston

Loud and clear

Julian Marr
clock • 8 min read

A truly active fund should be designed with the potential to outperform and the process to help it realise that potential, Seneca Investment Managers chief investment officer Peter Elston tells Julian Marr

Peter Elston knows he is being a little unfair when he describes active, passive and benchmark-hugging funds as, respectively "the good, the bad and the ugly". "Of course passive funds are not actually bad," Seneca Investment Managers' chief investment officer quickly clarifies. "They are great for people who do not have the tools, time or inclination to look for good active managers. Unfortunately, Sergio Leone did not call his movie ‘The good, the OK for some and the ugly'. "But as for those heinous closet index-trackers - in my book, to hug the benchmark and charge active fees for doi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers zoomed in on capital accumulation in Q4 2025

Advisers zoomed in on capital accumulation in Q4 2025

Titan Square Mile research finds

Jen Frost
clock 30 January 2026 • 3 min read
Measure for measure: How to track your tracker fund

Measure for measure: How to track your tracker fund

Tracking difference and tracking error

Terry McGivern
clock 28 January 2026 • 3 min read
SJP and AJ Bell pivot from US mega-caps in MPS as concentration woes continue

SJP and AJ Bell pivot from US mega-caps in MPS as concentration woes continue

Healthcare, energy and EM preferred

Linus Uhlig
clock 28 January 2026 • 2 min read