Fund managers as fruit flies

Article Abstract:

UK fund managers often do not achieve moderate targets despite their claims of expertise and strategic thinking. Fund managers' pay does not always reflect their performance. Part of the reason for underperformance lies in difficulties in beating the market. There may also be movements in particular sectors which affect funds in different ways. Fund managers can obtain better deals by trading in larger amounts than private investors, but may also carry out more trades.

Financial markets

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Regulator sees danger

Article Abstract:

The UK Personal Investment Authority (PIA) is concerned over risks to investors from flexible annuities and personal equity plans (Peps) involving corporate bonds. Flexible annuities carry the risk of a non-guaranteed income rather than a guaranteed pension. Corporate bond Peps carry the risk that investments could fall to less than the initial amount, unlike building society accounts, which offer lower rates of interest but greater security.

Pension Funds & Benefit Plans, Pension Funds, Laws, regulations and rules, Financial services industry, Financial services, Pensions

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A professional thinks aloud

Article Abstract:

Duncan Trinder is a UK fund manager who manages Gartmore British Growth, a unit trust. He uses both fundamental techniques, including assessing the economic environment, and price graphs. His approach is unusual in the UK since fund managers tend to use either price graphs or fundamentals. His approach can be illustrated using the case of Rugby, and building group. Trinder was previously a stockbroker before moving into fund management.

Portfolio management

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