The “defensive” and arguably disingenuous way in which fund manager departures are communicated to stakeholders can erode trust and lead to negative assessments of the managers' remaining funds, according to Fundhouse CIO Rory Maguire.
In an open letter to fund groups, Maguire said investment businesses' usual tack when a fund manager leaves their organisation is to feign indifference, claiming the fund's process is team-based, with the departing manager engaged in more of a management and client-facing role. "This defensive message may be intended to protect the fund management business, but we believe it has the opposite effect," Maguire said. M&G's Fedeli: Taking on the CIO role, 'the big industry disruptor' and global opportunities He added that a more upfront communication would be preferable, for example th...
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