Alastair Mundy is portfolio manager of the Investec Cautious Managed Fund and author of You Say Tomayto: Contrarian Investing in Bitesize Pieces.
Clients who visit us to conduct due diligence on our funds often focus on the 4Ps – philosophy, process, people and performance. Unlike an exam, we work on the principle that there are no correct or incorrect answers – the clients are simply seeking to determine if the first 3Ps make sufficient sense to have accounted for historic performance and will combine to generate future performance. Most largish asset management groups run a variant of a portfolio manager/analyst model – a named portfolio manager supported by a team of analysts specialising in certain sectors and/or regions. N...
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