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"Even good funds underperform their peers over some period of time," he said.
"I don't get much push back from people who are operating good funds," he said.
Using the Morningstar bell curve, then, it would be more difficult for good funds to get top ratings.
And many of the good funds seek uncorrelated results, so that the returns don't move in lock step with the stock market.
"We'll start the quiet stage of the campaign early next year," he said, "so that good funds are in place when we ask for public donations".
The trouble is that good funds attract more money— so much money that they tend to become billion‐dollar funds, which changes their basic character.
Similar(26)
I am a pretty good fund-raiser.
"Fundsmith is a very good fund.
"They are ambassadors, tight knit, good fund-raisers".
So investors in a good fund ought to be happy to stay put.
Like any good fund manager, Mr Slater finds deciding when to sell his biggest challenge.
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