As ‘dynamic de-risking' gathers pace, Gerard Callahan, head of UK equity at Baillie Gifford, urges investors to reconsider the many long-term benefits of equity investing...
We got sacked by one of our longer-standing institutional clients recently. We happened to manage a UK specialist equity portfolio for the past 19 years and hopefully did a decent job. They were perfectly nice about it. They thanked us for our efforts and we wished them well. There were lots of references to ‘de-risking’ their pension scheme, shifting to a reduced but global and holistically-managed equity exposure, a dynamic application of strategy, other consultant gobbledygook and all the general hallmarks of value-destructive hyperactivity that has blighted the financial services ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
