Fund selectors are increasingly favouring boutique investment houses and rejecting star managers, according to a survey by distribution company Harrington Cooper.
The survey of UK 80 wealth managers and multi-managers, conducted in September and October this year, found 95% were positive about boutique investing, and 41% said they plan to increase their asset allocation to boutiques in the next 18 months. Investors preferred boutique product providers over ‘star’ managers: only 18% of the respondents considered investing in big name managers important, while 82% did not believe brand recognition among customers is key when selecting a fund house. The survey also showed 92% of managers look for funds with a high active share, where fund managers...
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