Dan Brocklebank sets out the key factors advisers need to consider when choosing an active manager...
The last decade or so has been particularly well suited to a passive investment approach. As Mohammed El-Erian commented recently: "Passive portfolio management is particularly attractive in a world where investment outcomes are heavily influenced by a common global factor." Loose money conditions since the credit crunch certainly acted as that factor; with everything going up, a focus on valuation made little difference. 2022 has shown that times have changed, not least because inflation is back. In this new regime, clients' portfolios need a diversified set of investments more tha...
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