Three key questions to ask when selecting 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...