Michel Pireu Columnist

“Investors who hire asset managers to run their institutions’ money take thousands of meetings throughout their careers, often hearing out multiple fund pitches in a single day. And they pick up patterns,” says Leanna Orr at Institutional Investor.

“With annual investor letters, for example, the longer they are, the worse the performance tends to be. Holiday gifts likewise inversely correlate with alpha. Receive a bottle of vintage single malt Scotch from a hedge fund portfolio manager who usually just sends a card? Uh-oh.”                  ..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now