Potter rejects buy and hold

Gary Potter, fund of funds manager at Credit Suisse Asset Management (CSAM) believes the buy-and-hold strategy on funds is out of date. He said intermediaries should think in terms of leasing a fund, not buying it. After a year of huge fund manager changes and the inconsistency of performance, Potter said, advisers should regularly look at the funds they are holding for clients to see if they are still appropriate. According to Potter, only 2.9% of funds in the top 10 sectors have consistently been in the top quartile over the past three years, while only 20% of funds have consistently...