Prando's Asset Management - Excessive hospitality

The chairman learns what the regulator sees as ‘too much'

Julian Marr
clock • 3 min read

"At what point does this count as a hostage situation?" whispered the chairman of the improbably-sized investment company Prandeamus Asset Management as the fund manager's presentation ticked past the 40-minute mark.

"I don't know why you're complaining," I whispered back. "José-Fredo da Bigbadwolff is one of your own people, after all." "I didn't know he'd go on for so long," sighed the chairman. "In fact, I didn't know there was so much to say about emerging markets. Surely he must be wrapping up soon?" "If anything, I'd say he's getting his second wind," I replied. "Looking at our surroundings, of course, this was only to be expected. But I only realised what a posh restaurant you'd booked when I walked in - and then it was too late." "What's our choice of restaurant got to do with it?" frowned...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Investment

Partner Insight: Smoothing the client investment journey to and through retirement

Partner Insight: Smoothing the client investment journey to and through retirement

There are multifaceted challenges that can impact a pension portfolio’s performance and a client’s investment mindset. Smoothed funds offer a potential solution, says Claire Altman, managing director for Individual Retirement Solutions at Standard Life.

Sarka Halas
clock 10 March 2025 • 3 min read
The wonder women from Fundcalibre's rated funds list

The wonder women from Fundcalibre's rated funds list

'These two top-rated women have been quietly delivering for investors for the long term'

Darius McDermott
clock 06 March 2025 • 5 min read
Schroders AUM reaches £779bn as profits rise 14%

Schroders AUM reaches £779bn as profits rise 14%

Firm gives strategy update in full year results

Sorin Dojan
clock 06 March 2025 • 2 min read