STEPHEN CRANSTON: Flabby unit trust sector has failed to keep up with the times
Majority of funds that won the first Raging Bulls awards have disappeared
Raging Bulls is a catchy name for an evening of unit trusts. It is certainly much more memorable than the names given to similar occasions, such as the S&P/Micropal awards. Even as the awards without the bull they never generated the same excitement.
The first running of the Bulls was in 1997. The investment approach of “equities right or wrong” had proved itself through the 33 years of prescribed assets up to 1989. And in the 1990s the concept of tactical asset allocation was out of favour all around the world. It was hard to beat a concentrated allocation to equities, particularly on Wall Street.