n Personal Finance Newsletter - The consequence of chasing past performance : investment insights




Why are asset managers fired? Not only by retail investors, but also by professionals, consultants, and multi-managers? In most cases it is a function of performance, according to Eugene Barbaneagra, senior portfolio manager at SEI Investments. SEI is a NASDAQ-listed multi-manager which serves 23 South African clients through its Johannesburg office-mostly pension funds and a few wholesale distributors. A manager is typically hired after a period of good performance and shown the door following a spell of underperformance, he says.


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