CityWire.co.uk – Fund managers who produce above average returns year-in, year-out are a very rare species, research by New Star Asset Management’s fund of funds team shows.
Only one in 34 managers in the UK All Companies sector has produced above average performance consistently for each of the last five years, according to the findings, while just one in 37 has done so in the Asia Pacific (ex Japan) sector. In other sectors it is one in 34 for Japan, one in 15 in Europe (ex UK) and one in 24 in North America.
Mark Harris of New Star, said: ‘It is evident that there are far fewer fund managers who can produce long-term consistent performance than most investors believe.’
