Prando's Asset Management - Transparently wrong

The chairman reckons one out of seven isn’t too bad

Julian Marr
clock • 3 min read

"So all this time you fund groups weren't being wholly transparent on fees?" I asked the chairman of the improbably-sized investment company Prandeamus Asset Management when I dropped by his office this week.

"What can you do?" he sighed. "All good things come to an end - even, apparently, investment houses choosing what they charge and how." "You don't seem terribly regretful about this conspiracy," I said. "I wouldn't say that," said the chairman. "I regret hugely that this has all come out. But I would also argue using the word ‘conspiracy' is a bit strong. For one thing, it implies a element of organisation and co-ordination, which is hardly a strength in our exalted industry." "So what would you call it then?" I asked. "A ‘fortuitous confluence of self-interest'?" the chairman suggest...

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