Fund groups' 'responsible' succession planning rewards young talent

Rewarding younger talent

There can understandably be reluctance within some asset management firms to hand funds from well-known names to younger, less experienced managers.

They know many clients take comfort from the fact their money is in a fund run by a 'star' manager with decades of experience, but what about the younger 'rising stars' coming through? Providers have been criticised in the past for not handling succession planning well, although it is a key part of wealth managers' due diligence when they analyse funds. However, the indications are things may be changing, ushering in an era of more responsible succession planning.   It makes sense for providers to have plans in place to reward up-and-coming managers showing promise with their own mand...