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Article: OM European team likely to outperform despite shake-up; Old Mutual European funds should do a good job across the economic cycle.(Old Mutual PLC)
- Article from:
- Investment Adviser
- Article date:
- September 9, 2002
- Author:
CopyrightCOPYRIGHT 2002 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Mark Dampier, Head of Research, hargreaveS Lansdown
The recent fall from grace of Adrian Farthing and his European team at Old Mutual shows how tough markets have been for many to read in recent years.
At first, Old Mutual looked likely to recruit a new high-profile team. But this is becoming increasingly difficult and expensive and is not an guarantee for retail success. Old Mutual instead turned inward to the structured equity team which runs about GBP1.5bn.
The common process is used across many of the unit trusts and the institutional funds. Generally speaking, it works. While these funds may not be top quartile, they do seem to be fairly ...