INVESTOR’S NOTEBOOK: Looking at the value asset managers add
Just 28% of fund managers were motivated by helping clients achieve their goals
I was intrigued when Anne Cabot-Alletzhauser moved to head the research arm at Alexander Forbes. She is somebody who doesn’t laugh at the old joke that "it works in practice but will it work in theory?" It is a maxim by which she lives her life. Forbes has always been pragmatic to the point of cynicism. Twenty years ago it persuaded thousands to surrender their rights as members of defined-benefit funds. In return they were given the uncertainty of defined contribution. Cabot-Alletzhauser used to be a harsh critic of the Investment Solutions Performer fund. It does not fit in with the theoretical construct of a multimanager fund as it gives managers balanced mandates instead of asset class-specific ones.Cabot-Alletzhauser was just the kind of commercial intellectual that former Alexander Forbes CEO Edward Kieswetter was looking for. I am not sure about the relationship with new Forbes boss Andrew Darfoor. He has banned the use of the term "higher purpose" and let’s say he’s more Sta...
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