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John Spiers: I want my active fund to be really active
by John Spiers on Apr 07, 2014 at 12:25
It no longer seems defeatist to accept the certainty of slightly below market returns.
When I do invest in an active fund I expect it to be really active. I don’t mean high turnover – that’s usually wasteful – but I want the manager to make punchy bets to justify the higher fees.
Closet trackers are the worst of all worlds, offering higher costs and virtually nil prospect of significant outperformance.
John Spiers founded Bestinvest in 1986 and served as chief executive officer until June 2010, overseeing its £165 million acquisition by 3i in 2007.
Prior to founding Bestinvest he worked for stockbroking firm W.Greenwell.
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