A twenty-year industry retrospective from RSMR's Ken Rayner

Twenty years ago this month, Geoff, Caroline and I started the fund research business Rayner Spencer Mills - now RSMR. We wanted to be up and running, and hopefully profitable, as soon as possible but the global economy had other ideas. We had just come out of a tech bubble where investors had lost both money and confidence in the global stock market. Investors' belief in a technological revolution has been a repeating feature since then, with fast-growing companies challenging the status quo and leading markets both upwards and downwards.  Inflation was a significant theme back then ...