Ardevora's Lang: It took us 20 years to work out the missing piece of the puzzle

Ardevora and the psychology of investment

Ardevora partner Jeremy Lang tells Natalie Kenway why avoiding underperformers is more important than picking winners, and why it took him two decades to create a fully-formed investment process.

There may have been a spate of managers going it alone in recent months, but setting up a business in the more uncertain environment of 2011 looked, at the time, to be a bold call. However, four years after their shock departure from Liontrust Asset Management, Jeremy Lang and Bill Pattisson are at the helm of successful equity boutique Ardevora. The firm, named after the boat in which Lang sailed around the world, now has £1bn in assets under management. One only needs to look at the fortunes of Vinculum Fund Management, set up by Liontrust founder Nigel Legge, to see how challeng...